4 Ways to Avoid Insurance Increases


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Like many things in life we come to expect (or dread) our annual insurance renewal notices. Nine times out of ten you'll receive a notification that your insurance premium has increased.

With the rising costs of living, & mortgage repayments on the rise for many, an increase in insurance premiums is often the last thing we need.

As Kiwi's we're known for our resilience & finding ways to adapt. However, when it comes to money & in particular insurances, there are some things you can do to keep a little more of your hard earnt money where it belongs, in your bank account.

1.   Review your options: Premium increases vary by insurance provider. If you don't have policies arranged by us, we may be able to find you a more competitive offer, with the same or similar coverage.

2.    Increase your excess:  The low or no excess options will often mean higher insurance premiums. By increasing your policy excess you're likely to decrease your annual premium.

3.    Switch to a yearly premium: Rather than paying monthly or quarterly. Consider paying your premium annually - most insurance providers will offer a discount for an annual payment. And if you switch now to an annual payment you may delay the premium increase for a year.

4.    Bundle your policies: Check with your provider if they offer a discount for having multiple policies with them. The more business you have with one provider, the greater the leverage you have when it comes to negotiating discounted premiums overall.

So next time that insurance renewal notification comes in the mail (or email) don't just ignore it - try some of the tips above or simply reach out to our insurance specialist Neil Steeman to save you time & provide you with expert advice. 027-545-4003 or neil@ffgl.co.nz 


  • Insurance
  • Money Management