The importance of getting more than one home insurance quote
If your household insurance policy is coming up to renewal,
don't automatically accept that your current insurer is offering
you the best deal there is. The truth is, you could save money
simply by shopping around and getting more than one home
insurance quote.
Most insurers - whether it is home, pet or car insurance - know
that when it comes to renewal time, around 70% of their
customers will accept the quote, without even seeing if they
could get it cheaper elsewhere. This could be because the
householder simply feels don't have the time or the inclination
to bother or they genuinely believe they are being offered the
best deal there is.
However, this complacency could you tens - even hundreds - of
pounds. By shopping around and getting a home insurance quote
from several household insurance providers, you could save
yourself a hefty wad of cash. And the good news is that it
doesn't have to be a time consuming exercise.
The easiest way to do this is online, rather than ringing round
for quotes or trawling the high street. Many online insurance
websites have tools which search the insurance marketplace for
you, finding some of the best deals available.
And it is simple to do .. in most cases, you simply enter your
personal and household details just once and a list of insurance
policies that match your needs will be displayed - along with
the premium.
This will give you a good idea of how premiums can vary -
providing you have requested a quote on a like-for-like basis as
your existing one. It's then on to the next step.
You see, getting a favourable home insurance quote isn't just
about shopping around - although it is the major factor in
getting a good deal. There are also other ways that you can
ensure you can get and keep your premiums low, such as:
* Agreeing to increase the standard policy excess (most policies
will want a Ј50 excess but if you are willing to increase
the discounts available are dependant on the amounts). * Fitting
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. * Fitting approved locks (could achieve a 5% discount) *
Joining a neighbourhood watch (less common as a discount but can
still sometimes get a 1% saving with some insurers) * Not
claiming (not claiming this could enable you to earn a no claims
discount like car insurance. Some insurers offer up to 20%
discount).
By spending just a few minutes of your time focussing on getting
a better home insurance quote by using the tips we've discussed,
you'll soon feel the benefit in your pocket!