from your current provider on your Home and Car Insurance policies. After mortgages, this is the best area to save money by requesting new quotes. According to the RAC, the average quote of £629 for car insurance falls to £415 if you shop around, while home insurance cover tumbles from £385 to £250. The internet makes it incredibly simple to find quotes, and if you don’t spend at least one lunch hour a year finding a better deal then I wish I had as much money as you!.

1. Reclaim Loan protection insurance
Pricey and poorly sold, Loan protection insurance is one of the most profitable products formed by the finance industry. It can add £3,000 to the cost of a £7,500 secured loans. Many people who were sold ppi could’t claim on it against it these people are abel to demand their money back again.

Many companies will attempt to claim the money back, but you will pay a 25% premium on the monies awarded. Instead, call the FOS which is currently upholding around four out of five complaints about being missold PP . Helpfully, it offers a factsheet on how to make a complaint about PPI which you can find at financialombudsman.org.uk

2. Cancel your mobile phone insurance
Naive youngsters are strongly pressured in phone shops into spending between £50 and £70 a year on this insurance. But the benefits are minimal: most won’t cover you for the only major risk, airtime abuse (if your phone is ued to call overseas, and if your phone is lost your home and contents should coiver it.

Mobile phone insurance is easy to cancel just stop the direct debit.

3. Rethink your life insurance
You can also cancel your life insurance. Just because the life insurance was sold to you with your mortgage you don’t need to to stick with that provider for the life of the home loan. the policy can be canceled at any time to get a cheaper quote. With the human lifetime improving (ie. fewer people dying), the insurers have been cutting rates for many years.

If you are in a job at a big employer, it is likely to offer “death in service” benefit worth up to three times your annual salary, and often more. Do you really need all that life cover on top as well?

4. Don’t pay for travel insurance you don’t need
Step 1 Obtain a European Health Insurance Card (EHIC) from ehic.org.uk or at your local Post Office. This has replaced the old E111 forms and gives you reducedcost or free medical treatment in EU countries and Iceland, Liechtenstein, Norway and Switzerland. You may even obtain treatment faster, as you won’t have to rely on a hospital waiting to receive authorisation to treat you from an insurer.

Step 2 Check your home insurance policy. most cover your belongings ouside your house.

Step 3 Check your medical insurance policy, if you have one. These often pay treatment costs incurred abroad. If traveling to Europe, the only real benefit that travel insurance cover brings is cancellation cover. Can you justify paying the premiums?.

For those who travel outside the EU, travel insurance is a must, though. Policies that last for a year and cover you for more than one trip always make sense if you go away more than once a year don’t pay for what you don’t need. E.g., f you don’t ski or snowboard, you don’t need winter sports cover.

I had been taking care of my grandson Justin since the day he was born. Since I was with him almost 24 hours a day, my daughter insisted I get a cell phone as a means of contacting help, if I ever got into trouble, especially since Justin was usually with me in the car. I did a lot of driving and took him with me.

I decided, as a precaution, to get some mobile phone insurance, while I was at it. Being a toddler and playful, he liked to play talk on my mobile phone and often took it without my knowledge. However, I was always able to keep him and the phone within my sight.

I finally found a mobile phone insurance company, recommended to me by a friend, that I also felt comfortable with, and took out a policy on my phone. The coverage was as complete as I could get. It included theft, loss, accidental damage, fraudulent calls were covered and something I did not expect…water damage coverage, and this was not usually covered by most mobile phone insurance companies. Now I felt better about my mobile phone. And did not worry should anything accidently happen to it or I lost it or anything else that might happen.

The weather had gotten very warm and I thought a trip to the seashore would be nice. The trip would take no more than thirty minutes and we could spend the day. So off Justin and I went. Stuffed food basket, mobile phone and any other essential needed.

I always keep my mobile phone clipped to the waistband on my slacks, so that it was always ready at a moment’s notice. We played in the sand and Justin managed to relieve me of my phone. However, he didn’t stop there. As quick as he was to take it, he was that much faster in getting up and running away, down towards the ocean. Being seventy years old, I wasn’t as quick and he reached the water before me.

I reached the water shortly after Justin and found a giggling smiling little imp, but no mobile phone. Yes, you guessed it. The ocean got a very expensive present that day. Thank heavens I was covered for water damage. Something I would never have thought of getting if it had not been the suggestion of my mobile phone insurance agent.