Ways to reduce the cost of insurance
If you’re experiencing financial difficulties, it’s even more important to maintain some level of insurance. If something happens, it lessens the financial burden of replacement or repair and protects what you own. The best way to reduce your premiums is to chat to our insurance experts to discuss some of the following ways to save.
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Remove optional cover add-ons
Remove any optional add-ons you don’t need. Optional cover can be things like; excess-free glass and bathroom fixtures, breakdown service, or matching carpet cover. -
Check your sum insured is accurate
Your ‘sum insured’ is the most we’ll pay for a total loss claim if your home, car or contents were destroyed. The amount should represent the cost to replace your insured items or rebuild your home. Some assets decrease in value over time, so it’s worth checking to see if the sum insured amount on your policy is accurate. You may be able to reduce your sum insured to lower your premium.
Login or register for a My State online account to review your policy.
Calculate the cost to rebuild your home (your home sum insured).
Calculate the cost to replace your belongings (your contents sum insured).
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Increase your excess amount
Your excess is the amount you contribute towards paying for repairs or replacement when you claim. It might be worth asking about opting for a higher excess to help lower your premium. Conditions apply.
Login or register to check your current excess. -
Remove under 25-year-old drivers on private car policies
If they no longer need to be on your policy, removing drivers aged under 25 can help reduce the cost of your car insurance.
Login or register to review named drivers. -
Reduce your cover
If you still need to lower your premium after considering the options above, you could look at reducing your cover. You may be able to lower your level of cover, and premium, while staying insured.
Call us to discuss any changes you’d like
to make to your insurance.
Support is available
Each situation is unique, so we offer a range of tools to support you if you're having difficulty paying for your cover.
Our experts are on hand to support you in reducing your premium, while staying insured.
Extra care for customers in need
If you’re experiencing a sudden reduction of income or have concerns about your ability to afford insurance, please fill in this form. We’ll be in touch within five working days to see how we can help.
If you think you could benefit from a higher level of care and support, or have additional accessibility needs, please fill in this form.
Extra care for business customers
We know this is a challenging time for businesses, so we've put together some extra support to allow for the new ways businesses are working and to help those experiencing financial difficulties.
If you'd like to reach out for extra support, please fill in this form and we'll be in touch to help within five working days.