Getting Cheaper Home Insurance
Simple ways to reduce your home insurance premiums
Shop Around!
Perhaps the most obvious way of reducing your premiums is to shop around. The insurance market is fiercely competitive, with companies trying to outdo each other to gain your custom.
Traditionally, most people got their insurance from the same company year in and year out, as researching the deals available was just too complicated and time consuming.
These days, however, the internet makes it a lot easier. Not only can you get quotes from many different insurers at home via your own computer, but services exist that will automatically search the market to get you the best deal, all with the least amount of effort from you.
Combine Buildings and Contents
Home insurance comes in two basic forms:
Buildings Insurance - which covers the structure of your home and insures against storm damage, fire etc. This kind of insurance is required by mortgage companies before they lend to you.
Contents Insurance - this covers your possessions, clothes, valuables, furniture, and other things not directly related to the building itself.
You can get seperate policies from seperate companies for the two types, but as you'll normally get a discount for taking both policies out from the same company, it's usually cheaper to do so.
Pay Your Premium Annually
Never ones to miss a trick, insurance companies will often charge interest on your premium if you pay monthly rather than annually. So to save money, either pay for a year's cover up-front, or get your cover from a company like Virgin Insurance who offer a monthly payment option at no extra cost.
Buy Your Policy Online
This tip is probably the simplest, but still worth a mention - arrange your home insurance online. Almost all companies will offer an online discount, especially if you're switching your insurance to them. Discounts of up to 15% or more are common, so why not see if this can help beat your current insurance deal?
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