Contents insurance

Contents insurance is insurance that pays for damage to, or loss of, an individual’s personal possessions while they are located within that individual’s home. Some contents insurance policies also provide restricted cover for personal possessions temporarily taken away from the home by the policyholder.

In this context «possessions» means anything that is not permanently attached to the structure of the home (possessions that are permanently attached to the structure of the home can only be insured via home insurance.) Some contents policies may also include possessions kept in outbuildings or in the garden area attached to the house.

Contents insurance is usually sold alongside home insurance but it can also be purchased as a stand-alone policy, especially for those who are renting rather than owning their home.
Originally published June 20th 2017

Here’s four ways to cut your car insurance premiums.

Don’t auto renew
1. Don’t settle for the price you get from your existing insurer. Shop around when it comes to renewal, because you’ll almost certainly be able to beat the price that they offer.

Don’t pay in instalments
2. Avoid instalments. If you can afford it pay the whole lot, in one go, up front. Otherwise you’ll be charged interest, and it could be as much as 30%.

Security is key
3. Increase security on your car, and if you can, park off road overnight. It is best to park on a driveway, away from the road entirely.

Swerve the bad habits!
4. Drive safely. Now it sounds obvious, but if you can avoid accidents you’ll boost your no claims bonus, and that can be worth 70% or even more, off the price of your premium.

Save money here

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Balance transfer cards are for moving your existing debt from one credit card to another, without paying any interest for a set period of time.

You’ll normally have to pay a fee to transfer your balance. This varies, but is usually about 3% of the amount you’re transferring.

You can’t usually transfer a balance from one card to another if they are both issued by the same provider, or even part of the same banking group.

The 0% term gives you time to pay off your debt without paying any interest.

But when the interest free period comes to an end, the card provider will start to charge you interest.

So you’ll want to get a card that gives you enough time to pay off your debt before the 0% period ends.

If you miss your monthly repayment, or your payment is late, your credit card provider could end the interest free offer and bump you to a higher rate of interest.

So it might be worth considering setting up a direct debit so you never miss a monthly payment.

If you’re paying interest on a credit card balance, moving it to a 0% balance transfer card could be an option to help you save money.