It may be that people are naturally lazy, or it may be that people tend to be creatures of habit. And that is where a certain inertia creeps in when it comes to renewing insurance – whether for our car, our home or our business.
Many people simply renew their insurance cover without bothering to check:
- whether the policy is still appropriate for their needs;
- if they could get a more cost-effective deal elsewhere.
So when an automated renewal notice arrives through the post, it might be the easiest thing in the world to simply “roll-over” the existing cover into a further year.
If that is what you are tempted to do, it might be helpful to review how you might be missing out. Your annual renewal is an opportunity – unlikely to be best served simply by repeating what you did last year without any further thought.
It is an opportunity to review your current policy and determine whether:
- it continues to meet your needs and requirements;
- an alternative insurer might offer a better match to those needs;
- you are able to secure a more competitive quotation on the cost of the premiums.
Why may my renewal no longer offer the most appropriate solution?
Your insurance needs change from one year to the next – for instance you may have undergone a renovation and refurbishment of your home and this may have increased the value and sum insured. So unless you take the opportunity to review your current insurance cover there is a risk that you may be dangerously under-insured. This may result in the cover you have failing to meet the cost of a claim or damage you may suffer.
Similarly, if you are looking to renew your motor insurance, there is an opportunity to reconsider whether:
- the excess to which you have agreed continues to secure the most appropriate deal;
- your no claims discount is gaining a sufficiently attractive reduction in the cost of premiums; and.
- better value for money might be achieved by choosing a different motor insurer.
While reviewing your needs and policy options may sound easy, any successful review depends on you understanding precisely what type and level of cover might be needed and, perhaps more to the point, what new or different products may be on the market to meet those needs.
How we can help
At Alan Blunden Insurance Brokers we are here to provide just that skill, expertise and experience in providing you with the most appropriate quote. Our many years’ in the business have taught us a great deal about the particular needs and requirements of our customers, with whom we have taken the time to develop a close and continuing business relationship.
Our wide knowledge of every sector of the general insurance market enables us to match customers’ needs with the products available – and to do so at some of the most competitive prices on offer.
At Alan Blunden Insurance Brokers, our aim is to make sure that you always have the most appropriate and cost-effective cover at all time. This includes your policies at renewal time, which we carefully review before providing the details to you.
So, the next time a renewal notice drops through your letterbox, rather than letting any inertia take its course, it might be worth making the most of this positive opportunity to review with us your current needs and see whether you might save money by switching to a different insurer.
Call us now on 01702 826060 to see how we can help.