It seems as if every year your insurance premiums go up...and not just a little bit either. Why is this happening? The answer is, unfortunately, Mother Nature. Since the Black Summer bushfires, there have been a series of extreme events and challenging years. More claims mean that premiums have to go up if insurance companies are to stay afloat. High inflation is also contributing, especially for home insurance.

So, there's a good reason why your premiums are going up...but that doesn't make it any easier to afford them! How do you keep your rising insurance premiums under control in a time of rising cost of living and often stagnant wages.

How Insurance Brokers Can Get Better Rates

If you are struggling to afford your premiums, it might be time to speak to an insurance broker. How can insurance brokers help? There's a variety of ways in which they can do so:

1. They know what policies are available and can find the one that is most affordable for your specific needs. This saves you the time you would otherwise spend shopping around.

2. They have good relationships with insurers, which can be leveraged to get you good rates. They also have risk assessment experience and can often convince insurers you are less likely to make a claim.

3. They can help you decide whether you should "bundle" insurance or go with different companies. Often people assume bundling is the best deal, but it isn't always.

Your broker will sit down with you and discuss all of your needs, your claims history, etc. Make sure you choose an independent broker with no ties to any specific company so as to avoid conflicts of interest. Make sure your broker is working for you. Their goal is to protect you whilst getting you the best deal possible...and they can save you significant time as well as money.

Looking Beyond the Premium

Your broker's job doesn't stop with negotiating you the best deal. In fact, they are invaluable if you need to make a claim. Some brokers also offer claim management, which means they will take care of the entire process of making the claim and get you the best outcome. Failing that, they will help you understand the claims process...and their existing relationship with your insurer will help.

When you're making a claim, you're already stressed. You may be dependent on the payout to get your life back together. Always ask about your broker's claims service before working with them. Ideally, choose a broker that offers "claim management" or "claim handling" and will take care of the entire thing for you so you can focus on other aspects, such as replacing your furniture or recovering from an injury.

Your premiums are going up for a reason, but so is everything else. As life becomes more expensive, Clutterbuck Insurance Brokers can help keep your premiums under control. We also offer comprehensive claim handling services that reduce your stress and maximise your payout.  Reach out to get a quote today on your insurance, whether it's home, auto, or complex needs such as farm insurance. We handle it all!