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Investing Private Health Insurance Savings: Other Insurances

October 31st, 2011 0 comments
Budget

Once you’ve completed your private health insurance comparison and chosen your policy, you might want to look at how any savings you’ve made can be spread among other insurances.  It’s worth considering whether you want to keep building up your insurance portfolio.

Image by Ryan Loos

Consider Various Insurances

Are you neglecting a certain insurance product that could prove useful to you, or are there any areas of your existing insurances where you’d like to expand your cover?

If you’ve made a saving on your health insurance, you might be tempted to spend more on other things.  And while there’s nothing wrong with that, you could use a portion of your savings to increase your insurance coverage instead.

Take a look at your car insurance, life insurance, and/or home insurance policies.  Is there an element of coverage that you have been forgoing due to its added cost?  Now may be the time to re-evaluate this decision.

Insurance Comparison Tips

Now that you have some experience in health insurance comparison, you can also look for savings by comparing other types of insurance. It is good practice to carry out insurance comparison on a regular basis for every type of insurance you hold.  Thus, if you are comparing health insurance premiums today, maybe this would be a good time to do the same for your other insurances. By comparing insurance quotes regularly, you will improve your chances of saving money on insurance premiums of all kinds.

Consider a Multi-Policy Insurance Package

Where you hold two or more insurances with the same insurer, you may be eligible for a multi-policy insurance package that can cost less overall than the equivalent policies would cost if bought separately.  Ask your insurer, or potential new insurers, about this possibility for lowering your insurance expenditure. If their quoted premiums interest you and they are a reputable company, you might decide to get some of your other insurances from the same company.

Saving money on your health insurance premiums is a possibility.  You may be able to increase your level of cover in other types of insurance with the money you save, or you might find that multi-policy insurance with a single insurer reduces your total premiums. Comparing insurance premiums is a good way to look into these possibilities.

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