With consumers facing significantly increased home insurance premiums in recent years, household budgets have still become more constrained.
Finding home insurance at the right price is now a fundamental, rather than savvy, choice for many.
If you are looking at ways to lower the amount you are spending on your home insurance, here are five easy ways to bring your premium down:-
1) Don’t just auto-renew.
This may sound obvious but automatically renewing insurance cover without checking if cheaper insurance can be sourced elsewhere is an insurance mistake thousands of consumers make year after year. Conduct research on and offline to find out where you can obtain the cheapest deal.
2) Be accurate in the level and type of cover you seek.
The type of cover you want could include home emergency cover from Castle Cover. Underestimating the value of your contents or property rebuild may save you money at the time of buying your premium; however you will be forced to dig much further into your pockets should you be under-insured and need to claim.
3) Consider what might make you a good insurance prospect.
Homeowners over the age of 50 are often seen by some insurance providers as lower-risk, as their children have flown the nest and they are viewed as more careful property owners.
Consider if you fall into an insurance sector such as this and approach specialist insurers to see if you can get a better deal with products you need.
4) Review your excess levels.
Many insurance providers have been upping their excess levels recently in order to be able to provide cheaper insurance.
Providers that up their excess levels on your policy can be a problem if left unchecked until the point of claim.
By opting for a higher excess if you have access to savings can afford to dip into, you may save yourself a tidy sum initially by being flexible.
5) Step up security.
Insurers work on an a risk-assessment basis, so if you can make your home more secure it will stand in your favour. Fit mortise locks, join your local neighbourhood watch scheme and install a burglar alarm.
Don’t forget to check with your insurer to see if they have any preferred burglar alarm systems – as choosing to fit one of these could bag you a tidy discount.