As far as bills go, the home & content insurance bill that comes through the letterbox every month isn’t the worst, nor is it the biggest. In fact, it may even seem relatively small compared to some of the others you receive. Nonetheless, money is money, and as premiums continue to rise, it may be time to look towards finding a better deal.
If you’re open to slashing the cost of your home insurance premiums, these three tips will help. A penny saved is a penny earned, as the old saying goes, and hopefully, by following this advice, you’ll be able to save more than just a few pennies.
Check the Stated Facts
Insurers aren’t going to send somebody out to verify all of the information you give them. Instead, they’ll just made several basic assumptions that will tie in with their calculations.
One fact insurers will assume is that your property is over a certain age. They’ll also assume you only have standard locks fitted on your door. If you can correct your insurer and tell them the info they have on you is incorrect, you’ll likely save money. Sometimes you’ll be asked to verify this, so keep relevant documents handy.
Insure Certain Individual Items
To help bulk up the cost of your premiums, insurance companies will give you more cover than you need. While this isn’t a bad thing if you value peace of mind, it is a negative if you’re looking to save money.
The basic cover will likely be enough to cover all of your possessions, meaning you don’t need any of the fancy extras. If you do have lots of valuable possessions at home, such as jewelry, insuring them separately is probably your best bet. This way, you’ll get your coverage, but without pushing up the overall cost of your home and contents insurance.
With many different insurance companies around, your insurer knows that you’re blessed with heaps of options. Because of this, they’ll usually make a special effort to hold on to your custom, especially if you’re a loyal customer.
This gives you some leverage, and allows you to negotiate for a better deal. Your insurance company will hope that when you receive your renewal quote, you’ll happily accept it and keep handing over your money for another year. This isn’t the smart thing to do. Shop around after getting your quote, and let your insurance agent know if you find a better one. Usually, they’ll try to match it or perhaps even beat it. Doing this only stands to save you money, so is a highly worthwhile thing to do.
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