Here are some tips that you should consider:
Have a security system installed. Not only can this reduce your home owner’s cover, but you and your family will have peace-of-mind knowing that the system is protecting it. While there are home security systems with a whole host of different features, you should definitely consider purchasing one that is linked directly to your local police station. That could reduce insurance premiums for homes, by 5% or more!
It all starts with the home. While choosing the right cover for your home is crucial, buying the right home is equally as important. That is because houses with structural flaws or safety issues will ultimately require you to pay higher premiums. So to reduce the probability that you will need to file a claim later, have a home carefully surveyed before signing on the dotted line. It could ultimately save you a small fortune.
Shop around. It might seem logical to get house cover from the same company that already supplies you with an insurance policy, such as car cover or health cover. And you can certainly get a fantastic deal when you take out multiple policies from the same company. But never assume that your current cover provider can give you the best deal on an insurance policy. While it is possible, there is no guarantee! So make sure to shop around, before purchasing any policy.
Check on discounts. Companies that sell insurance offer a wide array of discounts. Before taking out a policy, learn about all of the ones that you qualify for. You might be surprised about how many you can receive. In fact, you could save quite a lot on the price of your cover if you qualify for multiple discounts.
Increase your voluntary excess. This is one of the best ways to reduce your long-term premiums significantly. As a word of caution, it will also increase your out-of-pocket expense if you need to make a claim. So if your home experiences minor damage, it might be wiser to repair your home using funds from your personal savings. However, even if you have to file a claim or two after increasing your voluntary excess, it is still possible that your out-of-pocket expense would be lower than if the voluntary excess had remained unchanged.
Get referrals. It is highly advisable that you get referrals for home cover companies, from friends, relatives and co-workers. It is highly unlikely that such people would lead you astray, which will boost your chance of finding a policy with lower premiums. So get as many referrals as possible before choosing a company. Good advice can lead to lower direct home insurance line.
