Reducing your premiums by increasing your deductible.

One of the quickest and easiest ways of reducing you insurance premiums is by increasing your deductible. The deductible, sometimes referred to as excess, is the amount that you pay in the case of an accident, fire or theft. Once the deductible has been paid your insurance company will cover the rest of the cost of repair.

Standard insurance policies come with a low deductible which means that the insured can claim for even minor damages such as paint scratches on their car, unfortunately this ability to claim for even small problems comes with a high cost, a good way of lowering this cost is by increasing the deductible.