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Pre­mi­ums on mo­tor, home, pet and health in­sur­ances are all on the up due to a change in In­sur­ance Pre­mium Tax, so now’s a good time to make sure you’re only pay­ing for cover you re­ally need

Good Housekeeping (UK) - - Front Page - For more tips on in­sur­ance, go to good­house­keep­ing.co.uk/how-to-save-on-in­sur­ance

MONEY WELL SPENT

CON­TENTS From smash­ing a fam­ily heir­loom to flood­ing the kitchen, con­tents in­sur­ance will usu­ally pay out. Check your pol­icy word­ing, as some will even in­clude

bliclyclle or lap­top) when they’re out­side your home. Don’t al­ways go for the cheap­est op­tion – make sure you have enough cover, and pay your pre­mium an­nu­ally (the av­er­age is £138 ac­cord­ing to Money Ad­vice Ser­vice).

TRAVEL Ev­ery­one should have travel in­sur­ance, even when buy­ing a hol­i­day in the UK. You can in­sure trips in­di­vid­u­ally or take out an­nual cover; it’s worth check­ing out the cost of both, es­pe­cially if you need ex­tra cover for spe­cial­ist sports. Multi-trip in­sur­ance starts from £12 a year for Europe, but if you only take one trip a year, in­di­vid­ual in­sur­ance can cost un­der £10 for a week.

GH TIP: Some pack­aged bank ac­counts also in­clude travel cover. Check yours. PET Only a quar­ter of the UK's 16.5 mil­lion pets are in­sured, ac­cord­ing to An­i­mal Friends In­sur­ance. It’s es­sen­tial for rare breeds and ex­otic an­i­mals, but worth con­sid­er­ing for any pet. The av­er­age cost of pet in­sur­ance is £366 a year, and the av­er­age claim is around £700, but claims can run into thousands if your pet has an on­go­ing con­di­tion need­ing treat­ment.

GH TIP: Be­ware of poli­cies where you pay a share of the claim rather than a fixed limit. If your pet gets se­ri­ously ill, this could get ex­pen­sive.

CON­SIDER CARE­FULLY

MO­BILE PHONE Small print can make it tricky to claim. Most in­sur­ers don’t cover loss or theft un­less you pay ex­tra, and even if you have paid, you're ex­pected to take rea­son­able care with your phone. Com­pare deals and don’t just pick the plan that’s bun­dled with your net­work provider – this can ble

GHI TIP: If your hand­set is worth a great deal or you have a phone con­tract, in­sur­ance may be worth­while – if you break or lose your hand­set, you'll have to pur­chase a new one AND keep pay­ing the re­main­der of your con­tract.

LIFE It costs an av­er­age of £240 a year (for a non-smoker), ac­cord­ing to Le­gal & Gen­eral, to know your fam­ily will have the cash they need if you die sud­denly. Some ex­ist­ing med­i­cal con­di­tions are harder to in­sure, but be hon­est about your health and al­ways shop around. If you have no de­pen­dents, how­ever, you don’t nec­es­sar­ily need this cover.

GH TIP: Check if your em­ployer pro­vides life in­sur­ance as part of your ben­e­fits be­fore you take out a pol­icy.

KEEP HOLD OF YOUR CASH

SKY PLUS In­sur­ing your Sky TV sub­scrip­tion costs from £107.88, on av­er­age, with Sky Pro­tect, and it's prob­a­bly un­nec­es­sary. As you're leas­ing your box, it is Sky’s re­spon­si­bil­ity to fix it if some­thing goes wrong. If any set-top box (for ex­am­ple, Sky, BT, or Vir­gin Me­dia) is ac­ci­den­tally dam­aged, this should be cov­ered by your con­tents in­sur­ance.

Woman’s best friend… Pet in­sur­ance is worth con­sid­er­ing

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