15:48 15 August 2013
1. The easiest and quickest way to reduce your premiums is to increase your deductible. This means that you’ll be contributing more should something bad happen to your house or to its content. As this lessens the risk on the part of the insurance company, this can easily help you save up to 10per cent on your premiums.
2. Invest in safety devices. Increase the security on your home and make it less risky to the eyes of insurance companies. Invest on buying locks and up-to-date alarm systems. Do not forget to tell your broker about this when renewing your home insurance to get discounts.
3. Get only the coverage that you need. Do you really need coverage against flood or earthquake? If your area hasn’t been affected by flood for number of years or if it is not on a fault line, chances are, you don’t need this special coverage.
4. Shop around. Take your time when shopping and comparing home insurance policies. Get quotes from several companies and compare not just the prices but the coverage as well. It’s the best thing that you can do to ensure that you’re getting the cheapest yet the best policy for you.
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