Insurances

[FusionChefGeoff]

So we're a bit higgeldy piggedly but we pay separately for:

Home insurance
Travel insurance
Gadget insurance
Life insurance
Critical illness cover

Presumably we could save money combining some of these?

Any experience? How do I find a broker to take us through it?

I wouldn't think you would get a better deal by combining. They are different products with different risks.

If you do it separately, you can get exactly what cover you want and compare prices more easily.

If they are combined, its going to different products meshed together and might not be exactly what you are after. A broker will take a big cut because someone who wants to be sold everything is a dream customer.

I'd cut down the amount of cover. Insurance is very expensive. You've got to pay for the broker, the underwriters, shinny central London offices, the insurance company profits, tax, other people's fraudulent claims etc.

For every pound you pay, on average you'll get back less than half so only get it if you are going to be in serious bother without cover. Take a chance with gadgets or holidays. You will be better off over your whole life just paying for when things go wrong yourself.

We have travel cover as standard with our household insurance (direct line).
Is the phone covered under a bank account?

We don't pay gadgets insurance- if you add up how much it costs annually, it is a lot and might not be worth it. Depending on your pensions, you might choose not to pay life insurance - pensions can be a large, tax free payout in case of death ( provided you've saved enough).

In 20 years I've never paid a penny on gadget insurance, white goods / electricals extended cover etc.

I had a phone stolen in 2006 that cost me £100 to replace.

That's it. A lot of insurance money saved!

Travel insurance - I get it through my bank account and it has paid for itself.

Life insurance - I agree with thinking what you actually need. I have death in service, and my XH has quite a lot of money. I massively reduced it and increased critical illness instead.

Life and Critical illness is generally cheaper together if it isn't already part of the same policy but if you are looking to save money make sure you look at the critical illness conditions or take advice to make sure you aren't excluding an important area of cover.

It miht be possible to cover your gadgets on home/travel insurance but I would check the excess on your home insurance in particular.

It's also worth bearing in mind that an excess plus increased premium after making a claim might not make it worthwhile.

It may be worth having a pay monthly bank account which includes phone and travel cover

I agree that a lots of those are such separate products that I haven't come across them being combined. I do have my gadgets on my home insurance, though - including if my handbag is stolen! From www.homeprotect.co.uk