Many homeowners with their home insurance policy don’t even try to beat their annual renewal premium; they just let it renew automatically without getting another quotation from another insurance provider. Well, these people are not going to get a better deal. But if you take the time to shop around and carry out some of the following cost saving measures you could potentially get a cheaper priced quotation.
On average over fifty percent of homeowners do not get another quote, this statistic is a bit alarming because it kind of shows that the once the insurance company has you on their books you are likely to stay with them for a few years, and that better for them. They always tend to put the price up as well each year if you notice; it never seems to come down in price.
Anyway here are just a few ideas that could save you some money. Look at increasing the excess on the policy to a higher amount; this will reduce the price of the premium. Be careful though because if you make a claim, this is you contribution towards the cost of the repairs.
Has your property got a security alarm fitted? Insurers will give small discounts to homes that take security seriously and attempt to keep thieves out of their home. The same goes if you are a member of the neighbourhood watch scheme. Cooperative home insurance may give an additional discount. Check then out!
Having a smoke detector can also get you a small discount too; it helps to prevent fire damage in your home.
It is sometimes cheaper to buy buildings and contents insurance separate rather than a combined policy, take the time and get a quote for each policy separately. The insurers always seem to bulk these two policies together with an incentive to buy both, such as free contents cover or half price contents cover.