9 Tips to Lower your Homeowners Insurance Costs.

5/18/2017

1. Combine buildings and contents cover
Think about taking away each with the same insurance company, as you'll be able to usually negotiate a less expensive price. It’s price comparing the price of getting your buildings and contents cover one by one too, thus you'll be able to make sure you’re getting the best deal.

2. Cut out the frills
Check what extras you’re paying for, and whether or not you need them. you may reduce the price by going for a basic policy and cutting out, for example, accidental damage cover. this could save as much as 20% on the cost of your insurance.

3. Increase your excess
One of the most common ways to slash your cost is to increase the voluntary excess. this can be the quantity you need to pay within the event of a claim, and it will vary from about £50 to many pounds. the higher the excess, the lower your premium.

4. Pay annually
While spreading your payments over monthly instalments could appear more manageable, it’s almost always more expensive because you’ll be charged an extra admin fee.

5. Pay your own way
Think twice before making a claim. If it's only a minor repair it would be better to use your own money to sort out the problem, then protect your no claims discount.

6. Build up your no claims discount
If you don’t make any claims, you may typically earn a discount on your premiums. this could cut the cost of your insurance by as much as 50% after 5 years.

7. Join a neighborhood watch scheme
This might cut back your premiums by around 5%, and provides you additional peace of mind.

8. Fit smoke alarms
Faulty electrics cause around 7,000 house fires across the country each year, thus ensure you've got smoke alarms throughout your property. keep in mind to check them frequently to create certain they’re working properly.

9. Insulation
Burst water pipes are among the most common home insurance claims, thus ensure to insulate your pipes.

13 Comments

Ernest London link

10/26/2017 06:50:21 pm

I like that you mentioned that joining a neighborhood watch could cut your premiums back by 5%. That is crazy! I am trying to lower my insurance costs, and I definitely want to keep the community safer. This could be a great option for me, I will have to look into it.

Michael Robinson link

11/15/2017 04:20:26 pm

I like that you took the time to mention paying your own way in this article. Just like you mentioned, you should think about whether or not to make a claim when repairing something minor in your home because you could fix the problem using your own money. I definitely agree with you on this point; however, there have been many times in my life where homeowner's insurance has really come in handy and has saved us from having to spend a lot of our money. Thanks again for the information!

James Thompson link

1/11/2018 08:44:11 am

Its amazing that such a simple thing like Insulation could make a difference in home insurance premiums I will definitely be looking for a contractor to do this for me this year. Also paying yearly is one thing I surely have never thought of. It would be a big hit initially but it may be for the best in the long run like you said.

Earnest Watkins link

2/15/2018 01:42:46 pm

I found it really helpful to learn that insulated pipes can help make sure I get lower home insurance costs. I've never owned a home before, so I found this to be helpful. I'll definitely look at doing this once I move into a home to help save on my insurance costs.

Celestia Stratheimer link

3/2/2018 08:26:27 pm

It sure got my attention when you said that there's a possibility of earning a discount for the home insurance if we won't make a claim regularly. I guess it will be best that I suggest that to my mom considering that she has the tendency to file a claim for every minor detail. If we will follow your tips, then we will save enough money to do the repairs and potentially help us more in dealing with bigger problems in the future. Anyway, thank you for sharing this.

Kayla link

3/5/2018 10:34:00 pm

I didn't know that it's important to know that it=f it's only a minor repair it would be better to use your own money to sort out the problem, then protect your no claims discount. My parents bought a property and want to secure the repairs in the future. My aunt suggested purchasing homeowner insurance and shared this article with them.

Gerty Gift link

4/13/2018 11:14:03 am

Thank you for the tip about paying annually. I had no idea that there was a fee for paying it monthly. I think that my husband and I will be discussing this when we get home tonight.

Millie Hue link

4/17/2018 02:32:45 am

My father is planning to buy a new house in another state as a vacation house for the family. And one of the important things to get is the home insurance. I wanted to know if there are ways to cut costs. So it's great that you've mentioned that paying for minor repairs in the future could help us protect our no claims discount and earn a discount as much as 50%. Thanks for the help!

Mariah Seagle link

5/2/2018 08:34:46 pm

My brother wanted to buy a home for his wife and my mom reminded him to also purchase a home insurance. It was mentioned here that he could lower his home insurance by paying annually. Moreover, it will be best to consult professionals before purchasing home insurance.

Watson Williams link

5/8/2018 01:10:45 pm

I'm looking at getting affordable homeowner's insurance on my first home. I like how you suggest paying annually instead of monthly installments since it could mean I end up paying less. I would be willing to do this in order to save a little bit of money.

5/21/2018 08:02:26 pm

My sister and her husband bought a house because they are expecting their second child. It was mentioned here that they could lower the home insurance by paying it annually. Furthermore, it's highly recommended to only avail insurance from professional insurance companies.

Ivanna Flint link

5/22/2018 12:43:19 am

It was nice to know that not making any claims in five years can actually help in reducing the insurance premium cost by fifty percent. It was good that I learned about this because reducing costs is one of the things that I consider most important. And since the location of the house, as well as the property itself, seems safe, that discount is as good as mine. Thank you!

Kenneth Gladman link

6/12/2018 06:31:22 pm

I didn't know that joining or organizing a neighborhood watch could help reduce insurance costs. This is something I have wanted to do for while now. If it reduces costs, it is even more incentive to get involved.

9 Tips to Lower your Homeowners Insurance Costs.

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