2025 is here and no, we don’t have flying cars yet. Nor are self-drive cars mainstream for now. So, while insurers are hard at work figuring out how these transport evolutions may affect the insurance risks, let’s take a closer look at the risks we face today.
When it comes to our cars, we’re pretty much still facing the same risks we’ve always faced… Accidents, theft, and the possibility that we may accidentally cause damage to other people’s property. When it comes to our own possessions, and our homes, some things have changed, and some haven’t. Some of our personal circumstances have changed. So, taking all of this into account, here’s how you can plan to transform your insurance from a reluctant expense to your greatest ally.
Establish your risks: Before buying or updating your insurance, consider your vulnerabilities. Ask yourself:
- What are my biggest potential losses?
- Can I handle these costs without insurance?
For example, insurance that covers the theft and write-off of your own car may seem budget-friendly, but it won’t help you if you crash into someone’s shiny new SUV. Comprehensive cover, while slightly pricier, covers your liability for other people’s property in addition to accidental damage and theft, and could save you from financial despair. Taking it a step further, agreed value car insurance allows you to fix your car’s insured value for 3 years, which allows you to plan around the pay-out you can expect of the worst happens.
Review your existing insurance: Think of your current insurance as a cluttered cupboard. And recognise that it’s time for a clean-out!
- Are you insuring items you no longer use or own?
- Can you adjust your cover to reflect your current lifestyle?
- Are you paying to insure your home contents against theft when you live in a secure area?
Taking stock of what you have, what you’re paying for, and what your most likely risks are can guide the insurance you need now.
Talk to your insurer: Your insurer isn’t a mind reader, but they’re there to help. Here’s what to do:
- Compare quotes from different insurers to find the best deal. (But make 100% sure you’re comparing like with like.)
- Bundle your policies with 1 insurer for discounts.
- Get comprehensive car premiums that decrease monthly as your car loses value.
- Customise your cover to match your lifestyle and risks.
Combining car, buildings, and home contents insurance will likely not only save money, it can also simplify your life if you need to make a complicated claim.
2025 is your year to outsmart life’s unexpected challenges with insurance that works for you. By knowing your risks, optimising your cover, and partnering with the right insurer, you’ll be ready for whatever comes your way.
Start managing your risks better, right now! Simply click here or WhatsApp King Price on 0860 50 50 50 for a commitment-free car insurance quote.
Psst… This blog provides general info only, and doesn’t count as financial or product advice from King Price or our legal and compliance experts. Remember, all our premiums are risk-profile-dependent, and T’s and C’s apply. Our most up-to-date KPPD (policy wording) can always be found here.
Our website T’s and C’s can be found here. King Price Insurance Company Ltd is a licensed non-life insurer and registered financial services provider. (Reg no. 2009/012496/06 | FSP no. 43862)
