Homeowners are always looking for ways to save money on home insurance. While certain factors, such as the type of property you own and your location, can affect the cost of your policy, there are some simple ways to reduce premiums making sure that you get cheap home insurance without compromising on coverage.
1: Check Comparison Sites
Shopping around to compare quotes is the best way to save money on home insurance. Comparison websites are designed to help you quickly and easily find the cheapest cover. These sites list offers from many different providers at once and let you compare them in a streamlined manner. You can find reliable comparison sites online and make sure that you’re getting a good deal for your policy.
2: Look Out for Discounts
Don’t forget to take advantage of any discounts. Many insurers offer discounts for taking out more than one policy, buying online, and having security features like burglar alarms, smoke detectors, etc. installed in your home. Be sure to ask your insurer what kind of discount they offer so you can save as much money as possible on your home insurance policy.
3: Increase Your Excess Payment
Increasing your excess payment is one of the most effective ways of reducing your premium. Excess is the part of a claim that you will pay in addition to what your insurer will pay towards it. An increased excess means cheaper premiums, but be sure to only increase it to an amount you can afford should something occur and you have to make a claim.
4: Include Security Measures to Reduce Your Risk
Installing safety and security measures in your home can significantly reduce the risk of theft or damage to your property, which may result in a lower premium. Ask your insurer about any discounts you may be eligible for after you install smoke alarms, burglar alarms, security lighting, or deadbolt locks. These kinds of upgrades are also likely to make your home more secure in the long run.
5: Mind Your Home Maintenance Habits
Make sure your home is well-maintained to qualify for more affordable rates. Home insurance carriers may request an inspection of your home before issuing you a policy, so ensuring everything looks in good condition can help you save. Stay up-to-date with regular maintenance, repair broken items promptly, and avoid any visible hazards on the property. Keeping up with regular maintenance like roof repairs or painting can help keep your premium low.