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5 Ways to save on Home Insurance

Your home is your haven and also the place where you keep all your valuables. Having Home Insurance is a must, but there are some factors you have to be aware of in order to pay less on your Home Insurance premiums.

It is important that you shop around before deciding on an Insurance Company. Select the Home Insurance package that suits your individual needs, lifestyle and budget.

The following tips will als help you to pay less on your Home Insurance premiums.

1. Consolidate your Home Insurance and other insurance

If you consolidate all your insurance with one Insurance Provider, you will get discounts on all your insurance packages.

2. Increase your Home Insurance excess amount or deductible

When you increase your excess amount or deductible, your monthly premiums will be lower. You can save a great deal of money this way, as long as you do not claim regularly. Further, you should always have the excess amount available in case you have to submit an unforeseen claim.

3. Don’t get too much Home Insurance

Remember not to include the value of the land in your replacement cost. Your Home Contents Insurance covers all the loose contents in your house and Buildings Insurance covers the physical structure of your house.

4. Claim less on Home insurance

If you have a history of claiming regularly, you can be sure that your insurance premiums will be high. Claim only when you relly need to. Keep in mind that the quantity of claims reflect on your claim history, but the size of a claim does not adversely affect your claim history.

5. Ask for Discounts on Home Insurance

Never assume that your Insurance Company will automatically inform you of available discounts. You have to ask them.

Discount for the following may be provided:

  • If you own your home outright
  • If your home is situated in a safe area with low crime
  • If you add security devices and alarms

Remember to ask the consultant about discounts and suggestions on how to be eligible for lower insurance premiums.

Finally, another way to reduce cost on your Home Insurance is to buy your policy online. Many Insurance Providers offer discounts for online policies, so you have to shop around and find the Insurance Company that meets your needs.