Insurance is a priceless tool for helping you take care of and preserve the things you value most in your life. No matter what you’re looking to insure, it’s essential to select the right provider to suit your lifestyle and specific needs.

Depending on your financial situation, you have plenty of choice when it comes to finding that perfect plan, but here’s what everyone should consider when they’re making the decision.

How much excess is too much?

Millennials often shirk insurance for their possessions, tending to believe that the excess they’d have to pay out should the worst happen, combined with the possible monthly cost of insurance simply isn’t worth it.

Before you buy insurance, consider measuring the cost against the value. Does the cost of the coverage and the excess should the worst happen to outweigh the importance or worth of the item? Or do you prefer those smaller-cost items like your laptop or bike in mint condition, however much you have to spend?

What do their customers say?

Customer service is vital when choosing the right insurance provider. Claiming insurance is never a happy occasion, it’s one that usually only occurs when something has gone very wrong. It’s therefore of paramount importance to choose a provider who can offer you reassurance, and make each transaction as easy as possible.

Always choose an insurance provider who is open and honest about its customer reviews. Ideally, the right provider will have a wide range of open methods of communication, from social media to call centres, preferably based in the UK. If they do have such means of offering feedback, then it’s likely their customers will have left reviews for all to see. Though reviews should always be taken with a pinch of salt – after all, people who are under a lot of stress can sometimes be extreme – it’s good to keep them in mind when finding that perfect plan.

Are they in it for the long haul?

It’s highly likely that your insurance plan will be built to last you a lifestyle, but your question must be: is your insurance company built to last just as long? Look for businesses who you can be sure will be around for years to come, as the price you’ll pay for investing money in a company that won’t be around for as long as you want could be a heavy one.