How To Save A Fortune On Your Home Insurance
If you’ve recently purchased a new home for your family, you probably have lots to think about before you can settle. Firstly, you’ll need to deal with unpacking, and that can be a stressful experience. Just because everything fits well into your last home, that doesn’t mean it will do the same in your new property. After that, you’ll want to think about undertaking some redesign work. At the end of the day, the chances of your new home having decorations that suit your personal taste are pretty slim. Lastly, you’ll need to find a suitable home insurance policy.
There are so many different types of cover that it can be tricky to know where to start. However, the basic rule of thumb is that you must read the small print. That is the only way to ensure you have appropriate cover. You should then look towards ways in which you can reduce the quote you receive. Thankfully, we’re here to help.
Purchase all your cover from the same company
Insurers want your business, and so you stand the best chance of reducing costs by using the same company for all your cover. Most people buy building and contents insurance separately, bit that is not a smart move. You will almost certainly get a price reduction if you purchase them as part of a package from a single insurer.
Don’t ask for accidental damage cover
It’s important we all try to save money on the essentials in life. However, there is no need to get accidental damage cover as part of your home insurance. Experts suggest leaving that element of the cover alone could save you around 25%. When all’s said and done, you would only use that part of your policy if the kids spilled some drink into your TV. We think it is much more sensible to deal with an issue like that as it arises. The worst that will happen is that you have to do without a television for a few days. It’s not exactly the end of the world, is it?
Pay for your cover annually
Opting to pay for your home insurance annually will usually mean you pay a little less for the cover. While it can be more convenient to spread the costs over many months, most insurers reward you for settling the deal at the start of your contract periods. It is usually cheaper to pay the money in one go because you avoid lots of handling and processing fees that are incurred when spreading the payments over a longer period.
Pay more than the compulsory excess
Most home insurance policies will give you a compulsory excess amount that you have to pay towards any claim. However, you can also choose to pay a voluntary excess amount on top of that. Opting to do that will bring the price of your premium down in most instances. Even so, it’s still vital that you read the small print.
We hope you now have enough information to get a better deal on your home insurance this year. Good luck with your search! Just remember that you must shop around and get multiple quotes if you want to find the lowest prices.