How to really cut the cost of your home insurance

The economy may be squeezing our pockets dry, but there are still ways to save money

Saving money has become one of the key issues for many households in the current economic climate – especially those with children. The cost of childcare, property, fuel and food is all taking a toll on the purse strings…but you can save money on some things.

When it comes towards the time when you need to buy your home insurance it probably isn’t something that you enjoy paying money out on.

Having the right home insurance cover is vitally important. Most people want to make savings on the amount of money they spend, but most people shouldn?t cut their home insurance cover because in the long run, not having the right protection could cost you more.

There are different ways for you to cut the cost of your home insurance premium, here are a few of them:

1. Don?’t just go for the first quote that you get. Make sure that you shop around to find a variety of quotes from a number of different places. The better the variety of quotes you get the more likely you are to get a good deal as you would have compared a lot more.
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2. You can increase the amount of excess you are willing to pay on your policy. This is the amount that you are willing to pay up front should you have to make a claim. It?s likely that if you opt to pay a higher excess, insurers won?t look at you as such a risk to insure.
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3. Make sure that your house has proper security measures. If insurers see that you have things like good locks on your doors and windows and a burglar alarm, as well as some other possible measures, then you are more likely to be offered a cheaper home insurance policy.
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4. It?’s important that you don’t over estimate the amount of insurance cover that you actually need. A good example of that would be if you specify that your home rebuild cost is more than it actually is. It?’s important to remember that your home rebuild cost is normally far lower than the market value of your property. It costs significantly less than the market value of your property to rebuild your home.

It can be fairly simple to cut the cost of your home insurance if you do a few simple things that have been outlined above. Home insurance isn’t?t something most people look forward to paying, but it definitely is an essential insurance cover.