5 Ways To Save Money On Home Insurance
Have you noticed a steep rise in insurance costs recently? Be it home, car, health or any other type of insurance policy, insurance costs have risen dramatically across the board. The good news is there are things you can do to bring the cost of home insurance premiums down and here’s a list of 5.
There are a few ways you can try to get a joint deal on your home insurance policy.
Firstly try getting a quote from one of your existing insurance companies, your car insurance company for example. Insurance companies will often give you a discount on your home insurance policy if you hold other forms of insurance with them. I think it’s important to try this option before you hit the comparison sites because the quotes you get from comparison sites won’t include these types of joint discounts. It’s also worth trying your bank, if you hold some type of premium bank account you may be entitled to a discount on a home insurance policy.
Secondly be sure to get quotes for joint buildings and contents insurance, not just single policies. Many insurance companies offer a discount if you take out joint buildings & contents insurance. Oddly enough this doesn’t always mean they’ll be from the same provider as some insurance companies simply act as a middle man for several other insurance providers.
When taking out a home insurance policy it’s important to be clear in your mind about what home security systems you have in place. You might for example have special security locks on your doors and windows that you’re not aware of. The same goes for the type of alarm system and security lights you may have installed. Check around your house and be sure of exactly what security devices you have fitted, then make sure you input these correctly on home insurance application forms. Good security devices can help you to save money on home insurance.
It may be worth upgrading your home security system. Good home security systems not only provide extra protection for your property, they often save money on home insurance in the long run.
Increase Your Excess
Increasing the excess on your home insurance policy is a great way to bring the cost down. When increasing the excess it’s important to be balanced. Most of us won’t make a claim on our home insurance policy for small damages because it drives future premiums up. On the flip-side if you need to make a claim for something like a TV, you won’t want your excess to be so high that you can’t make a claim and then have to replace it yourself.
Use Comparison Sites
I’ve put this money saving idea towards the end of the list because I think a lot of people use comparison sites now. What I would say is be sure to check all of the insurance price comparison sites, not just one. Not all insurance companies feature on every comparison site, some comparison sites also give exclusive discounts which you might miss if you only check one.
Use CashBack Sites
A lot of people still don’t use cashback websites. Sites like Topcashback & Quidco offer users cashback when they purchase an insurance policy through them. My advice is to check all the comparison sites and then when you’ve found the cheapest 3 prices, check cashback websites to see if your cheapest 3 insurance companies are offering any good cashback deals, that way you’ll be sure to find the ‘True’ cheapest price on home insurance.