It’s easy to get weighed down with all the options available when it comes to insurance. Most people will have a budget to work with but don’t know where to start. It’s hard to understand what factors will affect your insurance as there are so many! It’s important to be aware of the details you’ll need when shopping for home insurance.
Here we have some tips and information for those of you who are searching for house insurance on a budget. We will help you understand where you can save and what may affect your premium. We understand money doesn’t grow on trees! You want the best you can get right?
Here’s how you do it!
First of all, you need to know exactly what you can spend. This means sitting down and looking at your income and expenses (as painful as that can be sometimes). Once you have worked out what you have left over, look at what you can afford to spend without cleaning your bank out.
You still need to live, right? Come up with a range that you would like to stay within. Make sure your cut off is the absolute maximum spend which will keep you within budget.
You will find most insurer’s cover everything you need from cars to homes. If you want to save on your insurance you will most likely do so by sticking with one provider. By getting all your insurance policies you’ll be able to stick to contacting one company, as well as earning yourself discount on your policies! Save money and hassle!
Ensure you’re giving the correct information when discussing your home insurance. Home insurance covers the buildings on your property not the land. When giving a value make sure you’re not including the value of the land, this will raise your costs for no extra protection.
It’s important to ensure you haven’t got anything listed which doesn’t apply to your circumstances. For example, you may not own any expensive jewelry. Who wants to be paying extra with no benefit? Taking it off your coverage this could reduce your price. The point is to ensure you have the correct information on your coverage. Sometimes factors on insurance policies can be generalized until you’ve corrected it.
Of course you want to make sure your home is safe. You may not have considered extra measures you can take to increase security and reduce your home insurance. This sounds like a win win scenario, right? You can take some of these steps to increase your security;
Just by installing these you may be able to reduce your home insurance! There may be other improvements you’ve made or plan to make to your house which could potentially reduce your insurance. Ensure you tell your provider of any improvements you plan and they will be able to advise you. Don’t worry if you think you’re asking a silly question, most likely you won’t be! It’s always worth mentioning even the slightest improvement you’ve made, you never know what could make a difference!
If you can afford to pay for a years insurance in advance this will benefit you. If you’re paying monthly there are usually extra fees where as paying outright will save you in the long run. Whilst we understand it’s not always practical for you to pay a lump sum, it’s definitely worth considering if you can scrape it together. At least it will be one less bill to worry about each month as well!
This is the risk you’re prepared to accept and pay for if you need to make a claim, before your provider will pay out on any claims. If you need to save your costs you can increase your deductible value. By increasing your deductables you’ll likely decrease your premium. This is because you’re reducing your risk to your insurance provider.
Did you know smoking increases your home insurance? Not only will quitting benefit your health and save you money, it will decrease your home insurance to! This is because most insurers are aware that many house fires are caused by cigarettes that haven’t been put out properly and carelessness with smoking. So time to ditch the cigarettes and feel your wallet filling up!
Don’t be afraid to ask questions and negotiate with your provider, they’re used to it! Make sure you’re fully aware of what the policy covers and consider whether you need all of this coverage.
It’s essential to make sure all the details are correct as the slightest detail can have a big affect on your policy. Once you’re clear, negotiate! What’s the harm in trying? Especially if you can get your rates down it will be well worthwhile! You may be able to work with the provider and find a way to save your rates. They really are there to help you find the best insurance to suit you and your family.
Now that we’ve helped you understand where you can save on your home insurance to suit your budget, it’s time to get covered! Home insurance is essential, like any other insurance. You never know what’s around the corner so it’s a good idea to get purchasing. Remember to have all the information you may need handy so you can get the correct policy.
We have many policies available and are happy to help. Get in touch today to work with our team and find a policy which suits you. We have friendly advisors who will be happy to assist you!