Home insurance is necessary when considering the risk such as a fire. Imagine the expense of not only replacing everything you own inside the house, but the hassle and further expense of finding temporary accommodation.
The following is a list of tips for home insurance:
- Policy to hand - Before you make a call to an insurance company or get an online quote, make sure you have the relevant information available for them. They will ask many questions including the current value of your home, its contents and its current security situation including any neighbourhood watch schemes operating in your street. Ask important questions of your own. If you're sure your existing policy meets your requirements, use this as the basis for requesting a quotation from a potential new insurer.
- Reduce the risk - Remember to install burglar alarms, window and door locks or fire alarms this will have an effective decrease on your premium The less likely a property is to be damaged or burgled, the less the risk is to the insurer and the premiums reflect the level of that risk. It is also possible that if there is a local Neighbourhood Watch scheme, by joining it, you could cut your premium.
- Multiple policies with same company - Some companies provide discounts if you hold more than one insurance policy with them. So if you already have car or life insurance with a single company, ask for a quote for your home insurance, and ask if they can offer you any discount seeing as you're providing them with all of your insurance business. If you can, it is an idea to pay your full insurance premium in one lump sum rather than through monthly repayments. This can save you money as some companies may charge you a rate of interest for the privilege of paying monthly, on top of your premium.
- Only buy cover you need - Only buy the cover you need. Make sure that you need all the cover that you are getting. There is no point paying for cover of the garage contents if you do not have a garage. Asking for this cover to be removed should reduce your premium.
- Excess Cover - Always check your excess amount when taking out home insurance policies. If your excess is set too high then it could stop you from making smaller claims but it will reduce the cost of your policy. Set it too low and it will increase the cost of your premium but make it cheaper to make smaller claims.
- Claims - Think carefully before you make a claim. Ensure that the insurance company knows if you have not claimed on your home insurance in the past. Remember your record and your no claims bonus or discount will be affected if you making a claim. This will directly affect your home insurance premium in the future.
|
