There are few assets more valuable than your home and so to have home insurance is a bit of a no-brainer. And if you have a mortgage outstanding on your home, then home insurance is a pre-requisite. Contents cover is always more of a choice, but think about it, if your house was damaged by flood or fire, how would you feel about having to replace all your possessions without any insurance cover?
But you don’t want to have to pay more for home insurance than you need to. With any luck, you’ll have a trouble-free year and won’t need to put in any claims, so why spend more than you have to?
Run through the following checklist when getting a home insurance quote to make sure you keep the premiums as low as possible.
Use an insurance comparison website like igo4 limited as this will save you hours of searching around the web for the most competitive quotes. One search will bring up a number of different home insurance products from a number of providers. Then all you need to do is read the details and make your choice.
Buying buildings and contents insurance cover as a combined policy will usually reduce the premium costs. Also, if you put all your insurance policies (auto, travel, pet and home) through the same insurer, you may qualify for further discounts.
Opt to increase the voluntary excess you are willing to pay when you file a claim. The higher the excess you are willing to pay, the more confidence insurers will be that you’re unlikely to be filing small claims through your policy.
Make sure you have all the available security measures in place at your home. Not only will this make your property more secure and less at risk, but it should entitle you to discounts on your home insurance premiums.
With contents cover, check that you have enough cover in place, but aren’t paying higher premiums for a level of cover that your belongings simply don’t justify. There’s no point in insuring beyond the value of your contents.
When you have received a number of comparable quotes, check if any of them come out cheaper than your current insurance provider. Then call them and ask if they are willing to match the lowest quote in order to keep your business. This method is often surprisingly successful!