I don’t know if you are aware but many homeowners just seem to let their home insurance policy automatically renew with out even trying to beat there renewal quotation. Policyholders of a buildings and contents insurance policy should always take the time out to try and beat their current quote.
All you have to do is shop around. Use one of the many comparison websites to help you compare all the main providers’ features and discounts - but remember to check and make sure that you are comparing the same levels of cover such as features, exclusions and excess level.
With some home insurance providers, you may be able to get a multi policy discount, which applies when you purchase other products from them such as car and travel insurance.
Another popular strategy is to increasing the excess on your policy, which will bring the cost of your premium down. But, this also can have a negative effect; in the event of a claim you will need to pay this amount to the insurer, it’s like your contribution towards the cost of putting things right. Think about the level of excess that you could realistically afford to pay before taking this option.
Many of the top house insurance companies like direct line home insurance will give you an additional discount if you show to them that your home is secure and protected against thieves. Installing a security alarm that has been NACOSS approved will get you a discount. Plus, if you have installed smoke alarms, and are a member of a local neighbourhood watch scheme you’ll get another discount.
Not a lot of homeowners know this but separating your buildings and contents cover, rather than getting combined cover could save you money. It’s not always the cheapest option to combine the cover here, so it might be a good idea to get separate quotes and see what the difference is.
Make a point of reviewing your policy on an annual basis, especially with home and contents insurance, as the value of your personal possessions may have changed and you might not need as much cover as think. With contents cover always try to calculate the full value of all items accurately, because just guessing could leave you under insured.