8_Easy_Tips_for_Cheaper_Home_Insurance by collectorcarin1


8 Easy Tips for Cheaper Home Insurance

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Home insurance is a necessary expense for most of us, but that doesn't mean we have to pay over the odds.
Try these eight simple tips to see how you could reduce your premiums.

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No one likes paying for home insurance, but it's a necessary evil for most of us. This doesn't mean you have
to pay through the nose for it though - try these 8 easy tips for cheaper home insurance and see how much
you could reduce your premiums by.

- Shop Around

By comparing prices from several insurance companies, you'll probably be able to reduce your premiums by
a substantial amount. This may seem obvious, but research has shown that a surprisingly large proportion of
people either just renew their current policy, or get only one or two quotes. Many insurance web sites will
automatically compare dozens of policies for you, making this one of the easiest ways to reduce your
insurance bill.

- Buy online

If you buy your policy online you can often get a discount of up to 20% on normal prices, because there are
less administration costs involved and the savings can be passed on to you.

- Combine your buildings and contents policies

Many insurers will give you a discount if you take out both types of home insurance with them, and this
usually works out cheaper than getting the two kinds of policies from different companies.

- Pay upfront

Although most insurers let you pay your premium in monthly instalments, many will charge interest for this.
If you can afford to pay a full year's premium in advance, then this will work out cheaper in the long run.

- Don't claim for small amounts

Making many small claims can increase your insurance costs, as your insurer may see you as a greater risk
and increase your premiums. You will also lose any no claims discount your policy has. Of course, you're
entitled to claim for anything your policy covers, but ask yourself if making a small claim is really worth the
hassle and possible future costs.

- Voluntary excess

This is related to the last point. Insurance policies feature something known as 'excess', which basically
means that the policy won't pay out on claims below a certain value. On some policies, if you choose to raise
your excess to a higher level, then your premiums will be lower.

- Increase your home security

Beefing up your home security with better door locks, window locks, outdoor lighting, and alarm systems
can all result in lower premiums. Ask your insurer what you could do to get extra discounts.

- Reduce your cover

Many policies feature benefits that you might not need, such as cover for personal possessions while
travelling, or 'free' legal advice. Look through your policy and see what parts of it you really need - by
cutting your cover down to size you may be able to reduce your premium.

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