When you get a renewal reminder for your home insurance, it’s more likely than not that your premiums will have crept up from what you were paying last year. If you’re like most of the population, you might tut to yourself as you file the piece of paper away, but you won’t actually do anything about it.
However, with just a little time and effort shopping around, you could save yourself a considerable amount on home insurance by switching insurer. At the very least if you get a couple of house insurance quotes that come in lower than the current amount you are paying, you may be able to go back to your current insurer and see if they are willing to match the lower price to keep your business.
Of course, when you get a home contents insurance quote, you need to make sure that you give the same details and ask for the same cover from each insurer to make sure you are getting a like for like quote.
Some companies will include items such as home emergency cover, personal possessions cover and accidental damage cover in the standard quote. However, all of these are optional extras and will push up the price of the quote. If you’d rather do without those options and save on the annual cost of the insurance premiums, make sure they are taken off the quote with each company you talk to.
It’s also possible to reduce the amount you pay for home insurance by asking to increase the voluntary excess you are willing to pay and by making sure you take the minimum level of contents cover. Of course, you should make sure that the excess is set at an amount you can afford to pay in the event of a claim, and that the contents cover level equals the value of your possessions otherwise you might end up out of pocket.
You should also check whether any of the insurers you contact will offer you a discount for having your other insurance policies with the same company.
By ringing around and looking at comparison websites, you should be able to lower your home insurance costs. Certainly, it’s worth investigating to make sure you’re not missing out on a better deal than you currently have.