When people think about improving their finances, they often imagine dramatic changes, like massive pay rises, strict budgets, or cutting out every little joy. But sometimes, the biggest impact comes from small, smart adjustments.
We can’t speak to how you spend your money on entertainment, groceries, or fuel. But we can talk about your insurance. You see, insurance is 1 of those areas where minor tweaks can deliver serious value without upending your life.
Here are a few adjustments you can make to your insurance portfolio that have the potential to make a big difference to your budget.
Tweak 1: Adjust your excess wisely
It’s often overlooked, but actually, your excess can make a difference to what you pay monthly. How it works is that a higher excess = a lower premium, and a lower excess = a higher premium.
At King Price we can adjust your excess. Typically, we can suggest that you take a slightly higher excess which can reduce your premium. Importantly, our advice is for you to make sure that this excess amount is still affordable if you need to claim.
Remember, it’s about balance, not extremes when it comes to your excess.
Tweak 2: Insure what matters most
Over time, we accumulate stuff and sometimes we insure everything automatically. Reviewing what you actually still own and use can prevent overpaying. On the flip side, newly bought valuables may need to be added.
Our thinking is that accurate cover equals smarter spending.
Tweak 3: Consider usage changes
Driving less? Working from home? Parking somewhere safer? These details matter. Updating us with accurate usage info can lead to better-suited cover and pricing.
Tweak 4: Portable possessions done right
Instead of replacing stolen or damaged devices yourself, portable possessions cover ensures you’re financially protected. It’s a small monthly cost that protects items you rely on daily.
Tweak 5: The power of proactive reviews
Annual insurance reviews aren’t just admin… They’re an opportunity to discover savings, better options, or gaps that need closing before they become costly problems.
Here’s a closer look at these opportunities:
- Savings: Checking what’s insured vs what you still own is a good place to start, for example, you no longer have a TV (that you were paying to insure) because you swapped to using a projector on the wall.
- Better options: Your second car is barely used and 15 years old, so you could switch from comprehensive to 1 of our third party options.
- Gaps: You got new gadgets for Christmas that you haven’t insured, but if something happens to these goodies before you get insurance, you’ll have to pay to replace or repair them out of your own pocket.
The royal takeaway
You don’t need to overhaul your entire financial life to see improvement. Small insurance choices, made thoughtfully, can protect your budget, reduce stress, and prevent unnecessary losses in 2026.
FAQs
1. Does changing excess affect premiums?
Yes, a higher excess usually lowers monthly premiums. Then key is to make sure you can afford the higher excess, because if you claim, you’ll have to pay this amount.
2. Should insurance be reviewed yearly?
Yes. It helps keep cover accurate and cost-effective.
3. Is portable possessions insurance worth it?
If you regularly carry valuables, absolutely. Things like your laptop and smartwatch are easily lost, stolen or damaged by accident and these days, our devices are expensive and essential to our day-to-day lives.
4. Can changes to my insurance really save money?
Yes, when tailored correctly, you could benefit from some discount or reduction in your premiums.
5. Is it risky to reduce cover?
Only if it creates gaps. Reviews help avoid this.
