10 Ways To Cut Your Insurance Costs

“In light of the economic doom and gloom, more than five million Brits are planning to slash their insurance costs in 2009 by reducing their policies or even cancelling them completely, according to insurance provider LV=. But while it might seem pointless to pay money for something you’ve never claimed on, ditching your insurance cover could backfire. Step eight: keep in shape Heart disease, high cholesterol and blood pressure are all associated with obesity, so the more overweight you are, the ‘riskier’ you will be classed as by your insurer. This is reflected in your premiums, which are ‘loaded’ accordingly. A body mass index between 18.5 and 24.9 is deemed healthy, but if your BMI is over 30 you can expect to pay considerably more. The same applies, if you’re below 18.5 and underweight. Some insurers reward you for leading a healthy lifestyle. For example, Prudential’s ‘Vitality’ programme offers a discount on various things such as gym membership and travel, as well as lower life and critical illness premiums, if you can demonstrate you are leading a healthy lifestyle. ‘You can reduce your premiums on your insurance by up to 2% a year by leading a healthy life; moreover, in November last year, Pru launched what’s known as ‘premium locking’, where the policy locks in at the lower premium until it ends,’ explains Carr.”

http://www.moneywise.co.uk/everyday-money/insurance/article/2009/05/11/10-wats-to-cut-your-insurance-costs