Reduce your home insurance premiums with confused.com’s top tips

Paying your home insurance premium can be a costly affair – but it doesn’t have to be. So Confused.com have compiled some top tips to ensure that your premium is as lean as possible – without compromising your level of cover.

Don’t over-insure

Firstly, it can be all too easy to over-insure. On your buildings cover, be sure to state that the amount you’re insuring is the rebuild value of your property – not the market value. The difference can be substantial, so be certain you’re not paying for a level of cover that you don’t require.

Likewise with contents insurance, don’t hazard a guess at the value of your possessions, as you may well find you’re aiming too high. Be as accurate as you can be.

Safety first

Your contents cover is likely to be cheaper if you are perceived by insurers to be less of a risk. Having a smoke alarm and fire extinguisher makes good sense anyway – but can also reduce your premium. Likewise, keeping your house secure against burglars can save you not only heartache, but also money on your insurance. Install a NACOSS or SSAIB approved burglar alarm, and be sure to mention this on your application. Likewise, fit secure locks to entry points – such as deadlocks to doors, and key-operated locks to accessible windows.

Claim only when necessary

Making a claim will lead to more costly premiums next time round, as you will have proved yourself to be a risk. So it’s wise not to become a serial claimant. Before falling back on your insurance, see if it’s economical to pay for damage yourself, for example. In the case of minor claims, the amount of money requested may be less than the resultant rise in your premium.

Be sure to compare policies!

And the best tip has been saved until last – shop around! Or, better yet, get a comparison site such as Confused.com to do your shopping around for you. When assessing home insurance quotes, companies apply different criteria. This will lead to a variation in the cost of premiums offered. To ensure you get a deal that’s good value for money, don’t just settle for your first quote. So if your mortgage lender offers you a home insurance quote, do not feel obliged to take it. Furthermore, using a comparison site to shop around is likely to save you time as well as money, as you will only have to fill in the appropriate details once.