Save £££'s on your home insurance

HOME INSURANCE SAVING TIPS

There are many different types of insurance cover, and these protective policies are designed to offer peace of mind and financial security in a range of circumstances.

One of the types of protective insurance cover is home insurance or sometimes referred to as home cover. This is a type of cover designed to protect both your home and the contents, on the level of cover that you decide to take out. Choosing the right cover can be a minefield, some find that house insurance premiums can be high, so below are some top tips to reduce the cost, which is the best house warming gift one could receive!

• Get in touch with the provider: The consumer can discuss with them the assessment of their house and discover the reason the premiums are the way they are.
• Reduce the risk: It may sound too simple but by installing a burglar alarm, or door window locks, this could lower the cost. The less likely a home is to be damaged or burgled, then the less of a risk it is. Therefore, the premiums reflect the level of that threat. If an insurance company knows that your personal valuables are kept in a safe, then they will respond in favour.
• Shop around: There may be many firms providing home insurance deals, but it does pay to research and look around for the type of cover that will suit your needs best. Also, there are comparison sites just a click away to do the leg work for you. These websites can search up to 7000 sites and won’t get tired legs!
• Raise the excess on the policy: The consumer usually has to contribute £50 to any claim request, but a willingness to pay extra can often lead to long term benefits.
• Prepare to barter: Rates can be variable, so discuss and negotiate with the insurer the price offered. This can frequently have an impact on the rate of the premium in favour to the customer.
• Health, health, health: Believe it or not, some insurers take into account the type of lifestyle the customer leads whilst assessing their application. Drinking or smoking habits, even keeping a pet can have an effect on an insurer’s judgement.
• Plan ahead: If a claim has been made, a home insurance policy can typically be cancelled with a complete refund. Knowing this, the customer can then look at different options, and move to an insurer that is more suitable, without having to wait for their existing cover to expire.
• Always ensure that you are not underinsured: Conduct a yearly inventory by keeping receipts and making sure valuable individual goods are covered. This could help you save money if you need to make a claim.

The cost of home insurance can be based on a number of factors such as past claims and the area in which you live. The cost of cover can vary, but always read the small print, as the cheapest policy may not turn out to be the cheapest in the long run, as you may be paying slightly less money for a policy, but that means you might not have any real benefits. If you wish to take out both buildings and contents cover with your home insurance, you are able to buy them separately. Alternatively, you can make one big saving when you purchase both buildings and contents cover together, so it is worth looking into buying these two types of cover as a pair. Follow this guide to getting the right home insurance for you, and you will not be left out in the cold.