7 simple ways to reduce your home insurance premium
Everyone could do with saving a few pennies from time to time, especially on costly items like insurance. If you fancy reducing your monthly home insurance premiums, here are a few simple tips to get you started:
1. Look online and compare a range of policies from different providers. By shopping around, you could find a much better deal than your existing one. Always compare the policy features as well as the price to make sure it’s the right deal for your needs.
2. Buy a burglar alarm. Some insurers will offer a discount if your home has a fully operational alarm installed to help security. Check with your chosen provider to see if they do offer discounts and if there are any brands they particularly recommend.
3. Upgrading the locks on your windows and doors could also see you make savings as it could help prevent break-ins.
4. Try not to claim for small things as this will push up your premiums. Weigh up the cost of making a smaller, less significant claims and try to remain claim free where possible.
5. Accurately assess the amount of contents cover you need. If you overestimate the worth of your possessions you could be paying for cover you don’t actually need.
6. Don’t confuse the rebuild cost with the market value. The rebuild cost is typically a lower amount and getting it wrong could result in unnecessarily high premiums. Check out the BCIS website for more info on this.
7. Buying building and contents insurance together from the same provider could see you make savings.
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