Home insurance is essential if you want peace of mind for your home and family, and it needn’t cost the earth. Whether you’re looking for a new policy, or shopping around for a renewal, take a look at these tips that you can follow to ensure you keep the price of your home insurance down as much as possible.
Cut Out Home Insurance Extras
There are several extras that you can add on to your home insurance policy, for example, accidental damage cover. It’s fine if you feel you need this, but if it’s not a necessary then you could save as much as 25% by excluding it. Choosing a basic policy is a great way to reduce your premium.
Pay Your Home Insurance Annually
Although you do have the option to pay your home insurance premium monthly, which may be more convenient in the short term, it’s almost always more expensive to do it this way. Making a one off payment will be cheaper as there is no admin fee, so will save you money in the long run.
Increase Your Voluntary Excess
Although you’ll have to choose a compulsory excess, there is the option to choose to pay a voluntary excess, which could bring the cost of your premium down further. Remember, though, that this will need to be paid on top of your compulsory excess in the event of a claim, so make sure you can afford the total excess before you make a commitment.
Build Up Your No Claims Discount
You can earn a discount on your home insurance premiums if you don’t make any claims over a certain length of time. With some insurers, this discount can be up to as much as 50% after 5 years. Therefore, protecting your no claims discount can be a great way of reducing your premium. If an accident does occur, consider covering the cost yourself, as if it’s only a minor repair or replacement, it might be more cost effective in the long run to protect your no-claims discount.
Combine Contents and Buildings Cover
If you combine contents and buildings cover and take the policies out with the same firm, you’re in an excellent position to negotiate a discount with them. It goes without saying that they want your business, so are far more likely to offer you a discount if you take out more than one policy with the same firm.
If you are looking to find a great deal on your home insurance, contact City Insurance to find a low cost home insurance policy today.