13:48 29 November 2012
When you insure your home, house insurance companies are considering several factors. The general rule is, the more unlikely you’ll make a claim, the lower your house insurance premiumswill get.
1. Usually, the first thing that they look into is your postcode. Some insurers automatically charge higher house insurance premiums compared to others, because their customers may have typically more expensive houses.
2. The same is true if you live in an area where fire, flood, and burglary are more common.
3. The size of your home is also a factor being seriously considered by house insurance companies. Obviously, the bigger your house is, the higher the premium.
4. Cover limit and security are also considered. House insurance companies have limit per region. If you want to increase the cover for any reason you’ll have to pay higher house insurance premiums.
However, if you want to get discount, make your house look extremely safe to the eyes of insurance companies. Use burglar alarms and make sure to use locks that are approved by insurance companies.
5. Opting for higher voluntary excess will also help.
6. Lastly, you can easily convince home insurance companies to lower your premiums if you don’t make a claim but renew your policy with them every year.
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