Be Your Own Risk Manager
The worldwide economic slowdown, as well as high interest rates and skyrocketing food prices, has resulted in consumers having less and less disposable income available. Meeting one’s monthly expenses has become increasingly difficult for many and necessitated a more prudent approach to managing household expenses.
The beginning of the year brings with it those dreaded ‘annual premium increases’. We all know they’re coming, but are no less effected (or more prepared) when they do finally make their arrival. Although little can be done to avoid them, preventing any further premium hikes during the year is something that can, to a large extent, be managed.
Being one’s own risk manager, at least in terms of personal and household safety, can go a long way towards managing claim-related premium hikes. Personal security awareness, and knowing what to do around the house in the case of an accident, can prevent the insured from having to lodge costly claims and thereby incur additional premium increases.
