It's the time of year to spring clean your finances and there are ways to reduce your home insurance premiums without even switching to another provider. Here are our top five tips.
Tip one: Boost your home security
If you are replacing doors, fit a door that is certified British Standard PAS 24-1. Fit laminated glass and five-lever mortise locks to all outside doors including French doors and make sure you use them. Fit key-operated locks to windows and remember to remove the keys and keep them out of sight. Talk to your home insurance company about a burglar alarm it recommends and also see if security lighting, time-switch lights and security cameras could earn you discounts on your premiums.
Tip two: Get to know your neighbours
Consider joining a Neighbourhood Watch scheme with residents on your street. Doing so could slash your premiums with several insurers by as much as five per cent.
Tip three: Increase your excess
The voluntary excess is the amount you pay out in the event of a home insurance claim and so it should only be set to affordable levels. However, increasing your excess will cut your premiums.
Tip four: Don't make unnecessary claims
Think about if you really need to make a claim on your home insurance policy for small incidents such as a carpet spill. It is possible to build up a no-claims discount in the region of 70 per cent with some insurers so think carefully about what you can afford to cover yourself.
Tip five: Reduce your fire risk
Lessen the chances of a home fire getting out of hand by fitting smoke alarms and fire extinguishers in your home. Most home insurance providers also offer discounts if there are no smokers in your home.
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