Renewing your home insurance is always a pain, but in the current economic climate now is not the time to be complacent about getting a decent home insurance quote. If you are looking to reduce your home insurance quote, here are a few hints and tips that will hopefully make your insurance cheaper.
1. Shop Around
The only way you're going to find the best home insurance quote is to shop around. There is no point getting just one quote from one company; you'll need to have a look around at a number of companies to get a broad understanding of the market.
Comparison websites can do a lot of the leg-work for you, but there is no substitute for sound research of your own and looking through the insurers out there which can give you the best deal.
2. Increase Your Excess
The amount of money you pay as an excess before your insurance company begins to pay your claim can have a dramatic effect on your home insurance quote. The higher the excess you are willing to pay, the lower you insurance premium will be.
Depending on the company, you could save up to 25 per cent on the cost of a home insurance quote if you are prepared to increase the excess on your policy from £250 to £500. If you can afford the extra excess expense this is a useful money saving tip.
3. Buy Online
Most insurance companies that have both a high street and an online presence will offer an online incentive discount, typically between 10 and 15 per cent. If you buy online then you're doing all the hard work yourself and removing the need for the company to pay an employee to do the work for you.
Not only is this usually the cheaper option, you can be certain by buying online that all your details are correct and there will be no communication breakdown or lost in translation errors between you and the sales assistant.
4. Buy Car and Home Insurance Together
A lot of the top insurers that offer both car and home insurance will be willing to offer a significant discount if you buy both at the same time. You can reduce your home insurance quote by up to 20 per cent simply by going with the same company that insures your car.
This tip will not only save you money but it will also save you hassle, as one company will have all your details and you can start building customer loyalty with the one insurer.
5. Improve Your Home Security
You earn additional discounts on your home insurance quote by adding some simple home security measures. Installing fire alarms and deadbolt locks are just two simple ways to improve the security of your house without spending an excessive amount.
More expensive measures include burglar alarms that call the police automatically, fire sprinkler systems and a house safe for valuables. Whilst costly these will undoubtedly improve your house safety and can help to reduce your premium.
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