|  Boring though it is, insurance is a necessity. Here
we take a look at home insurance and
show you how to get the best possible
deal for your home contents, home buildings
or combined household insurance policy.
First
of all, the continued misapprehension
that consumers fall under is that they
have to arrange their Buildings Insurance
cover with the mortgage company. This
is NOT the case. You are free to look
anyway and free to buy from anywhere.
The requirement is that you have the
cover in force.
So
that is one reason why. The other is
because your home is you biggest single
asset and you basically need to cover
this in the event of a loss unless you
can simply right that off and go an
buy a new house every time anything
happened to your existing one.
While
Contents
Insurance is certainly
not a compulsory insurance, it is just
as important. With the average UK household
having £25,000 worth of contents
in value within their home, anyone not
insuring their possessions are simply
running the risk of loosing some or
all of another large asset.
So,
Home Insurance can be expensive, but
not nearly as expensive as the unlucky
events it protects you from. However,
that doesn't mean you should just pay
any old premium you're quoted. We think
that, instead, you're entitled to a
reasonable price for cover that you
decide to purchase.
Here
are some ideas to getting and keeping
your premiums low and some industry
tips to help you along.
- Fit
approved locks (could achieve a 5%
discount)
-
Join a neighbourhood watch (less common
as a discount but can still sometimes
get a 1% saving with some insurers)
-
Fit alarms and have an alarm maintenance
contract (fitting NACASS standard
burglar alarms could get a 7.5% discount
but remember they may require an annual
check). It may at first appear that
the cost of all this improved security
can outweigh the reduction in insurance
cost but this will prove fruitful
in the end.
- Agree
to increase the standard policy excess
(most policies will want a £50
excess but if you are willing to increase
the discounts available are dependant
on the amounts)
-
No claims (not claiming this could
enable you to earn a no claims discount
like car insurance. Some insurers
offer up to 20% discount)
-
Shop around as many providers as possible
is the only real way to find the best
price as there are so many variables.
Once the research is continue by contacting
the top 2 or 3 Insurers direct and
see how you can get the price down
further by discussing direct you options
and ability to reduce the risk to
the insurance company. Do not be scared
to negotiate with the insurance company
on their prices, you have done your
homework no make the effort worthwhile.
Finally
our “Top Tips”
for getting and keeping your home insurance
low
1.
Look to consolidate your Buildings and
Contents if the discount is large enough
to make both policies competitive with
the same insurer
2. Discuss with your potential insurer
all discounts available, even things
like memberships of certain organisations
could get you a further discount
3. If your contents total has gone down
instead of up then notify your insurer
as this could reduce the amount you
pay.
4. Keep valuables out of sight. Look
to buy a safe or cash box.
5. Take good care of your house keys.
Take them off of any hooks near doors
or windows.
6. Keep valuable electrical items out
of view. Turn those stand by lights
out and shut TV cabinet doors to hide
the TV
7. Get property pens to mark your possessions.
By marking your contents with your postcode
and house number, you will be able to
help the police get found property back
to you if stolen and recovered.
Why
not get a quote now
|
With
property commentators banging on about
how the housing market is slowing down,
you may think that your only chance
of selling your home is via an estate
agent.
Request a home energy check from your utility providers.
Normally these checks are free and will
help find out if your house is as safe
and energy effective as it could be
– saving you money in the long
run!