"A penny saved is penny earned", so the proverb goes, and
every penny counts. This article aims to help you to save a
few pennies on your home insurance premiums.
1. Research the area you're moving into
If you're moving home it pays to do some research into the
area you're moving into. Premiums can fluctuate
dramatically within a very small distance - the size of the
premium can also indicate how safe the area is.
2. What cover do you need?
It's a basic tip but how much cover do you really need?
Some insurance companies will heap on extra benefits as
part of your policy and try to sell you upgraded services.
Look carefully at what you really need and find a policy
that matches your needs exactly, rather than paying for
anything extraneous.
3. Shop around
It's easier than ever to buy insurance policies - the
Internet has hundreds of information sites like Motley Fool
where you can research the different policies that are
available, or visit a comparison site where you can search
for the product that suits you. Many of the major
supermarkets offer home insurance packages, such as ASDA
Finance.
4. Buy online
Many insurance providers give a discount (usually around
5%) for buying online.
5. Home security
When you move in change the locks. Most insurers recommend
five level mortise locks on external doors and two bolt
locks on the windows, while an approved security system
could save you over 5%. Other tips include time-switch
lights and security lighting - let your insurance provider
know what you are doing and ask them to lower your premiums
accordingly.
6. Join Neighbourhood Watch
It's a straightforward tip but in many areas joining an
approved Neighbourhood Watch scheme has been shown to
reduce premiums by up to 5%.
7. Fire
As with security, taking measures to reduce fire risk
including smoke alarms and a fire alarm system can reduce
premiums significantly. In addition, making sure open fires
are protected and any heat source is given adequate
ventilation and is not near anything combustible. Once
again, inform your provider of the measures you are taking.
8. Don't smoke
Increasingly insurance providers are asking their customers
whether they smoke or not - smoking obviously presents a
greater risk of fire from discarded cigarettes and
unattended ashtrays.
9. Increasing your voluntary excess
The bottom line is that the higher the excess you choose on
your policy the lower the premium. By choosing to take a
higher voluntary excess you could save up to 20% on your
insurance premium.
10. Only claim when you really need to
By only claiming when you really need to you will protect
your no claims bonus and keep your premiums lower.
Finally, there's one extra tip that most insurance
companies won't want you to have - that is, haggling. There
are dozens of insurance providers out there vying for your
custom. By shopping around and then haggling you can often
get a better deal.
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Take out ASDA Home Insurance at
http://www.asdafinance.com/home-insurance.html and you
could pay less for your cover and save money on your
electricity bill. They are giving away one energy saving
lightbulb could save you £9 each year.
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