I like to play things safe and therefore my husband and I have always been well insured. We’ve been in the fortunate position that we have been able to afford this, however, of late insurance premiums have gone up and up and up, and insurance is by far our biggest spend annually. It feels out of whack. So I need to review it all. But I need y’all’s help please!
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Has anyone paid for an insurance review? Ie hiring someone to take a look at all your insurances and giving advice on the right level of insurance? NB this would not be a broker who is paid commission on policies. Did you think it was worth it?
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TPD insurance (total and permanent disability insurance), this one is by far our biggest expense. It was set up years ago before we had kids and I think it’s no longer fit for purpose. How do I work out how much cover we need? Is there anything I need to be aware of if I change providers?
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Health insurance, we are with Defence Health whom we find excellent. We are generally fit and healthy but I’ll probably call them and review our extras cover to see if we can cut this back somewhat.
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Home insurance we recently changed to AAMI when the previous insurer changed the terms of the policy so that they would only insure our home to an agreed value and no longer offer to simply pay what it would cost to rebuild the home to its current standard in the event of total loss.
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Pet insurance, actually wouldn’t be without this one though it does seem like luxury. Our beautiful boy is aging and has been insured since 8 weeks old. It meant it was a no brainer on 2 separate occasions where he required extensive, life saving treatment. We could just say yes to what was needed without stressing over cost. He is now being treatment by a vet who specialises in supporting mobility in older dogs and insurance helps cover some of this cost. For us it’s been been well worthwhile for both peace of mind but also to be able to access the best possible treatments, when medically necessary.
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Car insurance for both vehicles is with a single insurer. Across both vehicles, they offer the best price. I am looking to drop the hire car option on this though to reduce the policy cost.
So for the insurance experts out there, where do I start? What’s working well for you and your families? Hope we can all share some tips here so we might all be able to save a little on our premiums whilst maintaining our coverage!