Here are his insurance tips:

■ Shop around for the best deal for your particular needs, as insurance is very competitive.

■ Don’t buy on price alone. The cheapest policy may look best for your needs, but it might not be in reality, so make sure you have the right cover for you.

For example, if you have a pre-existing health condition and are looking for health or travel insurance, then you may need to seek some specialist advice from an insurance broker.

■ Read the policy, so you know what is covered, and excluded.

■ Make sure you know what to do should you need to claim so that any claim can be dealt with as quickly and simply as possible.

■ Keep any emergency contact numbers for your insurer, such as 24-hour helplines so that, if the worst happens, you can get hold of them as quickly as possible.

■ For life insurance, health insurance and pensions, it is often sensible to seek advice from an independent financial adviser, especially as life insurance and pensions are long-term contracts, making it important to get the right policy for your long-term security.