How to reduce my home insurance premium?

By: Weknowmoney  18/08/2011
Keywords: home insurance, Cheap home insurance, homeowners insurance

It is a commonly used phrase, but your home is likely to be the biggest and most important financial investment of your life and for such a huge commitment, it is worth spending time looking at the right insurance policy that will make sure your home, along with the contents inside, are adequately covered. Although home insurance is vital when you own your own property, the cost of the premiums can be a financial burden and it is always worth shopping around for a premium that won’t leave you feeling light in the pocket. Many people will use a reputable price comparison website when it comes to home insurance and great deals can be found, which can significantly reduce costs. Looking for home insurance online will enable you to tailor the policy requirements to your personal specifications and to find a policy that will suit your budget. Finding a competitive price is a bonus, but there are a number of things you can do to further reduce the cost of your policy. If you have one insurance company taking care of your building insurance and another providing your contents cover, it may well be worth combining the two and opting for a policy that covers both. Many insurance companies offer combined home and contents insurance and as well as being more convenient, it can also work out cheaper. Combined policies may not always show up on price comparison searches, so it is often worth enquiring about your options beforehand. Many insurance companies offer a no claims discount, similar to when purchasing car insurance. All the years you have not claimed may lead to a reduction in price and your existing insurance provider may already offer this discount, you should enquire if you are not already benefitting from it. It is also a consideration if you are shopping around for a new home and contents insurance provider. Although most homeowners will choose to pay their home insurance in a series of instalments through the year, it is often a more expensive way of paying. If you can, pay the full value of the premium in one lump sum to avoid interest payments and hidden charges. It goes without saying that security is fundamental when it comes to home insurance and is also a major factor in terms of your quote. Simple measures such as the installation of double glazing, burglar alarms, window locks, smoke detectors and even being part of a neighbourhood watch scheme can all help to reduce your premium and could all be taken into account if you are looking for a new quote. Your existing insurance company can advise you on what measures will help to reduce your bill and it is worth contacting them for their advice. All of these steps can appear to be complicated and time consuming but it is well worth making the extra effort to make sure you are getting the best value from your home insurance UK cover.

Keywords: Cheap home insurance, home insurance, homeowners insurance

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