Tips On How To Arrange Cheaper Home Contents And Buildings
Insurance
If you are looking for tips on how to reduce the yearly premiums
you pay on your home contents and/or home buildings insurance
policies, the following are some sure-fire ways to do it:
Increase the insurance excess amount
While still maintaining a sensible threshold, why not increase
the excess amount on the insurance policy? The excess amount is
the amount you and the insurance company agree you'll be liable
to pay you can make a claim on the insurance policy. In theory,
with an increase in the excess amount should come a reduction in
the premium - as there is less chance you'll claim.
Increase your home security
Insofar as home contents insurance is concerned, security is a
major contributing factor. Therefore, if you want to reduce your
home contents insurance premiums, you should seriously consider
beefing up your home security system. Depending on the valuation
you have put on your home contents, ideas here should include
putting in a home alarm system.
Rent a safety deposit box
While none of us like the idea of keeping our most prized
possessions safely locked away in a safety deposit box, if you
have one or two very valuable personal items, you may well find
that it is a lot less expensive to keep these in a safety
deposit box and only bring them out on special occasions than it
is to pay an expensive insurance premium to keep them on-hand
all the time.
Look around for a new insurance provider
Although you do need to consider whether or not your home
buildings insurance provider is an approved insurance company,
so far as your mortgage lender is concerned, these days the
insurance industry is a very price competitive one. As such,
take advantage of this and look around to see if you can get a
cheaper deal either on the Internet or in the real world.
Insure against the mortgage value
Although it is never recommended practice that you only insure
your home buildings against the mortgage loan outstanding, if
money is tight and the amount of your mortgage outstanding is
not too far off the real value of your home, you may want to
consider insuring your home for the value of the mortgage loan
outstanding. This way, with a lower home valuation should come
reduced premium payments.
Although there are a number of ways that you can reduce both
your home contents and home buildings insurance, where possible
it is best practice that you try to maintain adequate
insurance to reflect the real value of all your wonderful
possessions.