10 Ways to Lower Your Home Insurance Costs

10 WAYS TO LOWER YOUR HOME INSURANCE COSTS OINCREASE SECURITY Ensure that all windows and doors have BSI approved locks (and keep them locked). Ideally, doors should be at least 44mm thick. Choose laminated glass for windows - it's much harder to break. Fit a letterbox cage to stop burglars from reaching in to open the door. INSTALL ALARMS 7.5% It's important to install both smoke and burglar alarms. Installing a NACOSS alarm could give you a discount of up to 7.5% on your premiums. INSTALL A SAFE Most insurers charge more to insure high-value items such as jewellery. Invest in a sturdy safe to lock away any of your expensive possessions. HOME AUTOMATION Having a home automation system not only allows you to remotely control all of your home electrical devices, but could also save you around 20% on your home insurance 20% every year. O FIREPROOF YOUR HOME In addition to smoke alarms, you can also fit a fire extinguisher into your home. Other things include checking that your electrical systems are all running smoothly, reducing the chance of any fire damage. In 2011, the average pay-out for a fire claim was £10,200. £10,200 10m O STAY VISIBLE Try not to have any large/tall trees surrounding your home (no higher than 10m or within 5m of your property) – this will keep your home clearly visible from the road, reducing the chance of burglars. 5m O INCREASE EXCESS You will usually have to pay the first £50 of any claim. If you are happy to pay a bit more towards the cost of your claim then you can lower your premiums. £50 SHOP AROUND EVERY YEAR - NEVER AUTOMATICALLY RENEW £200 To make sure that you're getting a great rate, you should shop around every year just before your renewal is due. Price isn't the only thing which you need to consider - check any customer complaints/feedback too. 1 in 10 people who look around could save up to £200 a year. MAKE FEWER CLAIMS It goes without saying that the more claims you have made, the more your premium will increase. Typically, the cost of your home insurance premiums can rise by around 10-15%. Try to pay for any damage yourself and avoid making a claim, unless you really have to. 10-15% TAKE PREVENTATIVE STEPS As well as all of these tips, take your own steps to help protect your home as much as possible (eg: insulate water pipes, update your plumbing, add storm shutters, etc). This will decrease your chances of having to make a claim in the first place. SOURCES: PRESENTED BY HTTP://www.MONEYSUPERMARKET.COM/C/NEWS/HOW-WILL-A-HOME-INSURANCE-CLAIM-HIT-MY-PREMIUM/oo144/ HTTPS://wwW.ABI.ORG.UK/-/MEDIA/FILES/DOCUMENTS/PUBLICATIONS/PUBLIC/MIGRATED/FACTSz20ANDx20FIGURES 120DATA/UKx2oINSURANCEx20KEY*20FACTSx202012.ASHX easyfit | HTTPS://www.MONEYADVICESERVICE.ORG.UK/EN/ARTICLES/HOME-INSURANCE-HOW-TO-GET-THE-BEST-DEAL garage doors HTTP://www.CONFUSED.COM/HOME-INSURANCE/GUIDES/HOW-TO-REDUCE-YOUR-HOME-INSURANCE-PREMIUMS HTTP://CLEANTECHNICA.COM/201y//06/HOME-AUTOMATION-BENEFITS-INFOGRAPHIC/