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7 ways to save on house insurance
Get a quick home insurance quote 
Taking out or renewing your
house insurance can be expensive but is essential for any homeowner or tenant.
By following some simple guidelines it is possible for households to save hundreds
of pounds on their annual home insurance policy. Follow these simple guidelines
and see your premiums fall.- Shop around on the internet: Shop around! Many house insurers specialise
in insuring different types of risk. By shopping around you can significantly
improve your chances of finding the right product at a suitable price. Use
the Insurancewide.com house insurer comparison service to find the most
suitable insurer for your house insurance.
- Purchase house insurance online: Some house insurance companies
offer discounts if you buy your insurance online.
- Security: Make sure you have the right security locks fitted such
as mortice deadlock or rimlock conforming to British Standard 3621. You
should also install a NACOSS approved burglar alarm and join a neighbourhood
watch scheme. Increased security measures can lead to a 5-10% discount on
your policy.
- Payment: Consider paying your house insurance premium annually
rather than monthly as some insurers charge high APR on monthly instalments.
- Keep your sum insured up to date: If you fail to inform your house
insurer of any new purchases or home improvements they may refuse to pay
out in the event of a claim. You could then find yourself paying out a large
sum of money. The correct level of buildings cover should cover the full
cost of rebuilding the property not the market value. Contents insurance
should cover all your possessions inside your home.
- Avoid living in an area at risk of flooding or subsistence: If
you live in a known flooding or subsistence area you will have limited insurance
options available. The best advice from the industry is stay with your current
insurer and not to be drawn by the lure of different prices or schemes from
other insurers. House insurance problems are not usually experienced by
an existing owner, but the hitch comes when a house is sold and the new
owner tries to secure home and contents insurance. To prevent being caught
in this trap, ask the current owner of any problems they encountered when
insuring the property. If the existing owners have experienced problems,
find out the name of the insurance company they used, to ensure the most
appropriate cover.
- Check policy exclusions: A cheaper policy may be unsuitable due
to the exclusions. House insurance does not provide cover for everything
that could happen. Read the small print to ensure you are fully insured
for your needs. Failure to have the correct insurance could result in your
insurer refusing to pay out. Things to be aware of are the contents value
and individual item limits included in the standard policy. If you require
additional cover this can usually be added for an extra cost.
Get a quick home insurance quote |
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and regulated by the Financial Services Authority. Insurancewide?s service
is subject to its terms
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