You need to know about the Type of insurance you need

You need to do your research about the type of insurance you need, whether you’re looking for car, buildings, home contents, health or life insurance.

You need to know how insurance claims work

After an accident, your insurance company will subtract your excess, process your claim and pay out to cover the assessed damages, but only up to the maximum levels you have purchased on your policy. You need to find out how long it takes to process claims before you agree to any policies.

You need to know how insurance rates are worked out

This may include factors such as:

  • Gender- in some cases, women get lower insurance quotes
  • Age – with car insurance younger, less experienced drivers are considered high risk
  • Marital Status- in terms of car insurance, statistics show that married drivers tend to be more responsible and safe
  • Where you live- if you are looking for car insurance, you need to consider that densely-populated urban areas with traffic congestion and higher rates of theft lead to higher premiums.

You need to know how various insurance discounts work

In terms of car insurance, these discounts are savings associated with the make, model and type of your car you drive

You can get different discounts such as:

  • Defensive driver discounts
  • Safe driver discounts
  • Low mileage discounts
  • Policy discounts such as multi-policy discounts
  • You can also get discounts on your home insurance if you are living with someone older than the age of 50

Get all the facts

Before you get an insurance quote, make sure that you gather all your information. Before you agree to anything make sure that you understand everything within the policy.

Read the fine print

Compare multiple quotes

If you want to save quite a bit, you need to make sure that you compare various quotes.