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House insurance is vital to preserving the sanctity of your home. Protecting your biggest asset can be divided into three sections, buildings insurance as well as contents insurance and a combination of both. Now that you have mastered the basics, it’s time to cut down on your monthly premium.
1. Don’t Cry Wolf: You will have a lower premium if you claim less often. You should only claim on the damage or loss to your home or possessions if you absolutely have to. Check whether your insurance company offers no-claim bonuses or discounts on the following year’s premiums if you don’t claim.
2. Fortify Your Home: Increase the security you have on your home with burglar bars, secure garaging, good quality locks on your windows and doors, and a reliable alarm system. You can also consider getting involved in your neighbourhood watch programme or your area’s homeowners alliance so you can keep up to date on all security issues in your area. All of these factors will bring down the risk you pose to the insurance company and therefore decrease your premium.
3. Don’t Let Your House Go Up In Smoke: Consider fitting smoke detectors in your home. They are generally inexpensive and they can offer you just that extra bit of confidence in knowing your family and your home will be well-protected.
4. Go Window Shopping: Use our useful comparison features to find the most affordable and comprehensive house insurance options. Your current house insurance company may not offer you a comparative renewal quote so shop around before you renew your contract. Keep in mind that insurance companies may offer discounts to new customers.
5. Up Your Excess: If you agree to pay more excess, your monthly insurance premium will be cheaper. Excess refers to the amount of money your insurance company will charge for the cost of making any claim. You should increase your amount of excess before you start paying your monthly premiums.
©Diane Moalem for Compare Guru
