There are plenty of ways you can save money on your home insurance – from comparing quotes to installing security measures. Read on to find a few of the top money-saving tips to save money on your cheap home insurance.
Tips to help choose the right policy:
- Don’t just buy insurance from your mortgage provider – You can buy home insurance from any provider, with a range of options available in the market.
- Combine your building and content cover – Consider taking both from the same provider to negotiate a better price.
- Make annual payments – Although paying over months seems more manageable, the overall cost is more expensive due to the additional fees involved.
- Increase excess – One of the most common ways to reduce cost is to increase voluntary excess. The higher the excess, the lower your premium.
Tips for an existing policy:
- Build up your ‘no claim discount’ – Not making any claims over some time will usually get you a discount.
- Pay for expenses from your own pocket – Rethink before making a claim and protect the no claim discount.
Security tips for your home:
Make these changes to your home and safety and lower premiums over time:
1. Install a security system:
- Compare systems – A wide range of systems are available in the market so choose which options suit your requirements.
- Budget – Shortlist the offerings considering your budget.
- Make the right choice – Ensure that you get the right system for your area.
2. Suitable locks:
- Locksmiths – A locksmith can offer professional advice about locks best suited for your property. A secure lock is very important when locking external entrances above the legal minimum standard requirement.
- The right lock – Get the right lock for your door type. For example, a five-lever mortice deadlock is good for wooden front doors and three-point multi-locking systems are good for PVC-u external doors.
3. Smoke alarms – Faulty electrics can cause house fires, so make sure that you have smoke detectors installed on your property.
4. Insulation – Insulate your pipes as leaking pipes can cause damage to your home.
5. Additional security – Consider window locks, door chains, safes, burglar alarms, security lights, and time switches.
6. CCTV – You can also set up CCTVs to ensure increased safety.
