save on home insurance

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.

Double Up

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.

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11 Responses to 5 Ways To Save Money On Home Insurance

  1. Pauline says:

    Great tip about the joint saving, although usually I find that companies are competitive with one product mainly. Comparison sites plus Quidco is usually my cheapest option.
    Pauline recently posted..13 money resolutions for 2013: #11 give back!My Profile

  2. WorkSaveLive says:

    Great tips! I’m fortunate in the fact that I get to use a company called USAA for auto/home insurance. They’re a non-profit company that serve families that have close ties to the military and their prices are amazing. I’ve made sure to shop their rates though (as my premiums have been going up) but they still seem to be better than anybody else out there.
    WorkSaveLive recently posted..Tips to Save Money on your Cable BillMy Profile

  3. Great tips! We’ve used many of them in the past. However, like Jason, we have USAA as well and would be hard pressed to seriously look elsewhere.
    John S @ Frugal Rules recently posted..How to Take the Emotion Out of InvestingMy Profile

  4. I have been dealing with increases slowly each and every year. I have a multi-policy discount and can’t find any other company that compares. I don’t have access to USAA like Jason and John, so I just have to always ask how to lower my bill.
    Grayson @ Debt Roundup recently posted..Global Investment and the Fiscal Cliff – The Markets PerspectiveMy Profile

  5. I used comparison sites when I lived in the UK and I do the same here in Canada. It’s worth the time spent because it may mean the difference between paying hundreds or even thousands of extra dollars per year.
    Canadian Budget Binder recently posted..A Personal Story:Chores and Money Lessons Growing UpMy Profile

  6. I got my home insurance reduced by searching for insurance companies that my employer worked with. By going through them, I was able to get all of my regular discount PLUS the corporate discount.

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