What is house insurance?
House insurance is generally divided into two types of insurance cover. This may include building cover as well as home contents cover.
Buildings cover protects the structure while Contents cover is for your belongings. More individuals are opting for combined cover, although this may be more suitable for people who own their homes.
If you are financing your house through a bank or another financial institution you will be required to get the most comprehensive type of house insurance.
How to save more:
Don’t over-cover buildings.
The rebuild value is what actually counts.
If you need both building and contents cover, buying combined insurance can be cheaper. Remember that for contents cover, under-insuring could lead to you getting less than the value of your items if you need to claim.
Tweak your excess to lower your premium.
You can choose to pay a voluntary excess on top, which will bring the cost of your premium down. Make sure that the total excess is affordable.
Beware of monthly payments
By switching to paying annual payments, you can make significant savings.
Never auto-renew because loyalty is expensive
No matter how you look at it, the insurance industry in the country is highly competitive. Insurers usually offer the best deals to new customers, very often punishing existing customers with higher premiums for failing to challenge them annually.
Find the top comparison sites
By comparing insurance offers from various insurance companies, you may find better house insurance cover than what you’re getting from your current insurance provider. You don’t have to get insurance form your bank if you’re financing your house through them. You have the choice of comparing quotes from other insurance companies.
Nothing beats simply negotiating with your agent or your broker so you get the best deal.