Eight Ways to Make Your Cheap House Insurance Even Cheaper

Your house is quite probably your most important asset – both financially and emotionally. Houses are more than just buildings. They’re places where life happens. It’s important to protect your home and family with an insurance policy that will help you rebuild your life, should disaster strike. Luckily, every year there are more and more options for cheap house insurance. By taking a few simple actions, you can easily reduce your premiums so that your insurance is even less expensive!

Don’t make too many claims.
While you’re obviously going to make a claim if your house is damaged in a disaster like a flood or a fire, making claims for many small repairs and replacements can drive your premiums through the roof. The price of paying for a small repair yourself might be much, much less than the cost of higher premiums over the coming years. Before you make a claim, find out how it will affect the cost of your insurance – and then decide if it’s really worth it.

Shop around.
Online price comparison sites have led to fierce competition between insurers, which means lower prices for homeowners. Rather than simply allowing your insurance to automatically renew every year, take a few minutes to do some comparison shopping and see if you can get a better deal. This is especially true when you’re buying a new home. Mortgage lenders will strongly encourage you to sign on with an affiliated insurance provider. You’ll almost certainly be able to find a better deal on your own.

Know what you’re insuring.
Buildings insurance is meant to cover the cost of rebuilding your home. This will generally be much lower than the market value of your property, so make sure that you’re not overinsuring. Likewise, be aware of the value of the contents of your home. Overvaluing your contents will cost you on a monthly basis, while underinsuring might cost you should disaster strike and you find yourself making a claim.

Increase your excess.
Your excess – what you have to pay out-of-pocket when you make a claim – will vary based on your insurance policy. A lower excess generally means higher premiums. It might be cheaper in the long run to increase your excess and lower your premiums. If you choose to go this route, you might want to set up a savings account and put aside some money for emergencies.

Combine your insurance policies.
Most insurers offer deals to customers who choose to bundle their policies. Consider purchasing buildings insurance, contents insurance, auto insurance, and any other policies all from the same provider.

Protect your home against flooding.
Taking steps to protect your property against flooding can lead to lower monthly premiums. If you live in a high risk flood area, it can even mean the difference between finding a policy that works for you and not being able to insure your home at all. Risk management measures include increasing the flood resistance of your house by purchasing covers for ventilation bricks and doors, or by installing one-way drain pipes. You should also consider increasing the flood resilience of your home with measures such as tile floors, raised electrical sockets and wall-mounted televisions.

Protect your home against fire.
Not only will fire extinguishers and smoke alarms keep your family safer, they can also save you money. Some insurers even offer slightly lower premiums for non-smoking homes. Contact your insurance provider to see if fire-proofing your home can help lower your premiums.

Protect your home against burglary.
Taking steps to protect your home against burglary can provide you with peace of mind and with a few extra pounds in your pocket. Insurance premiums can often be lowered by installing a burglar alarm, a personal safe or better locks on doors and windows. Some insurance companies also offer incentives for people living in neighbourhood watch areas.

Of course, in the perfect world you’ll never have to make an insurance claim at all. Since the world we live in is not perfect, then it’s simply good sense to take the time to find cheap house insurance. If disaster does strike, it’s comforting to know that your insurance can help you rebuild your home – and your life.

Sam Jones the author advises readers looking for cheap house insurance that they can compare insurance quotes on uSwitch, a compariosn website where all the main providers can be compared.