by Gilly Brewster
No one wants to pay too much for home insurance, but no one wants to have to pick up the bill when they’re the victim of a crime or unfortunate accident either. Hedging your bets and getting a home insurance policy is probably a good bet, and with these few simple tips, you can reduce the cost of your quote.
Firstly, make sure you have security systems and devices installed in your home. This doesn’t need to be James Bond-esque laser defence systems and full CCTV surveillance, but a burglar alarm is a good idea. Many other off-putting security features exist; real (or fake) CCTV cameras will put off would-be burglars, for example. Also ensure your home has at least one fire extinguisher and a working smoke alarm. Simply ensuring these basic things are in place can save you some money on your insurance.
Considering the requirements of your cover is also a way to save money. Some insurers will try to sell you policies that cover things you might not have. While these one-size-fits-all policies are convenient, they can cost more money than their counterparts. Examine your policy to see whether it contains any redundant clauses (a flood cause, for example, may not be necessary if you live in an area that never floods), and ask if these can be removed.
Similarly, ensuring that any specialist items you have are covered will reduce your costs if anything happens to them. Most policies will have a maximum value for each item that can be insured, so if you own anything worth more than this value, ask that it is included. While this may increase your quote slightly, the opposite of what this article is trying to achieve, it will save you money in the long run!.
A good tip for saving money on your insurance policy is to ask companies with whom you are already insured for something else. Many companies are attempting to widen their customer base by offering multiple kinds of insurance, so your car insurance provider may also be able to insure your home. If you have been with a company for a long period of time, it is likely that they will offer some kind of loyalty discount, meaning you can save money when taking out your policy.
Keeping on top of your insurance is also important: make sure to let your insurer know if you sell items that are insured individually, or if you acquire new items that may not be covered by your existing policy. Also keeping an eye on the trends and discounts in the insurance market may present you with opportunities to move your policy and save further money.
Hopefully these tips will save you some money on your insurance!