Everyone wants to save money on their home insurance; and one of the best way to do this is to look online for the best rates.When the time comes to renew your insurance, do not just sign the papers and go with the same company.
You will often have the opportunity to bargain with your insurer if you take out cover for buildings and the contents at the same time. Insurers want all the business that they can get and will be more willing to negotiate with you if you are taking out cover on more items.
Try to pay annually
You can save a lot of money if you can pay your insurance premiums in one payment at the beginning of the year. It might seem convenient to pay smaller monthly instalments, but you are going to be charged extra for admin costs for the privilege of being able to pay this way. Save money by paying everything upfront.
Get an alarm for your home
Making sure that your home is secured is important for your family and for the company that is going to ensure you. Insurers welcome people who secure their homes with burglar alarms, but normally request that you get an approved system installed before they will consider reducing your premiums. Getting an alarm system can possibly reduce your premiums by up too 7.5%.
No claims discounts
Try to build up your no claims discount. You can actually get up too 50% back on your premiums over a five year period if you do not claim in that time. You can only do this if your home is secured, so the more security measures that you can have fitted to your home, the better your chances of getting your no claims discount. Prevention is the key to making this possible.
When you are away
Your home becomes more of a target when you are not there, so take the necessary steps to ensure that you lower the risk of being broken into. Cancel your milk and newspaper deliveries when you know you will not be home. Find someone who can come to your home everyday to open and close your curtains, making it appear that there is someone at home. Get time switch lights that can be programmed to go on and off at preset times.
Make sure that your smoke alarm is in proper working condition. Many people die each year because their smoke alarms were not working or the battery was flat and they had no idea that there was a fire. Make sure that you put candles out before going to bed, never leave your pans on the stove unattended and always make sure that you do not overload your wall sockets. Faulty electrics can easily spark and cause a fire in your home.
Make sure that you insulate your water pipes. Many insurance claims are for burst water pipes and this can be prevented by insulating them and therefore preventing them from freezing in wintertime. Find someone who can check on your home, especially when you are away for long periods of time. Turn the water off while you are gone to prevent the pipes from freezing up.
Pay more voluntary excess
All home insurance policies come with an excess amount that needs to be paid when you make a claim, but if you choose to pay more excess when you claim, you can reduce the amount that you end up paying for your premiums. Be sure that the total excess is affordable just in case you need to claim.
Choose a basic policy
There is no point in taking out a policy that has a lot of added extras if you do not need them. Make sure that you get the cover that suits your needs and those of your insurer. Added extras can end adding up to 25% onto your premiums every month.
These are all simple, but effective ways to reduce the amount that you are going to end up paying on your home insurance. Why pay more than you actually need too? Life is already so expensive. Save where you can and use these savings for something important such as your children’s education.