Home Insurance premiums are rising rapidly, so now more than ever we need to be prudent about how we spend our money. To get the best premiums, we need to put in place a few simple measures.
Home Insurance is made up of two main areas: Buildings Insurance and Contents Insurance. Buildings Insurance tends to cover your building itself and many of the fixed items that feature in your house, such as bedroom and bathroom suites. Contents Insurance is similarly self-explanatory, covering your possessions against things like accidental damage, malicious damage, loss, or theft.
Policies aren’t as simple and uniform as they used to be. Tailor your policy to suit your needs exactly so that you don’t end up paying over the odds for a one size fits all, generic insurance scheme. You should generally try to combine your buildings and contents policies with the same insurer; this will lead to reciprocal discounts and probably better value premiums. Never value your building and contents too highly or this will add to the premium.
The internet has revolutionised many markets, including insurance. Buy online so that you can compare the best providers and benefit from some of the many online discounts available.
Security is a major factor in deciding how much your premium will be. If you have approved locks and alarms, membership of a neighbourhood watch scheme, security lighting and a host of other potential deterrents, you could well reap the rewards.
Just like Car Insurance, you can build a no claims bonus – so don’t always claim for things that may affect your renewal premium. Weigh up the benefits and losses before you claim. It is also wise to set your voluntary excess at as high a rate as possible, but nevertheless a rate which you can afford to pay should the worst happen.
Find excellent tailored policies at companies like endsleigh insurance, who design insurance packages for individual buyers.