15:14 08 August 2013
1. Buy a house that insurance companies will not find too risky. Research the area before you buy a house and make sure that the crime rate is very low. Also, don’t buy properties near any body of water as these are at risk of getting damaged by flood.
2. Secure your house. Invest on security systems that will make your house extra safe. When applying for home insurance, ensure that you let your insurance company know about this. Most companies will offer discount for this.
3. Shop and compare. Get quotes from all the insurance companies and compare prices and level of coverage to ensure that you’re getting the best and the cheapest.
4. Get all your insurance from one company. Most insurance companies offer loyalty discounts.
5. Choose higher deductible. This is the part of the policy that the insurance company doesn’t pay you. The higher your voluntary excess, the lower your monthly premiums will get.
6. No claims discount. Avoid filing for claims for small loses. Many insurance companies can offer up to 10per cent discount if you haven’t made a claim for the last 3 years.
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