Cheaper Housing Insurance

In the current economic climate people are always looking for ways to save money. The Association of British Insurers has reported concerns that people are trying to save pennies by under insuring important things like their possessions and cars. If you are worried about the expense of your home insurance there are always other things that you can do in order to reduce your premiums and here are just a few of them.

It is important to remember that the cost of a home insurance policy is based on two major variables, the value of the item(s) being insured and the risk to which those items are exposed. Anything that you can do to reduce the risk of your property being damage or being broken into will have a knock on effect on your insurance policy and if you're not sure you can always ask your insurance provider.

Most insurance companies have a certain standard that they expect safety equipment to meet. Make sure that you have approved locks on the windows and doors, this will make your property more secure and will reduce the costs of your premium.

One of the first things is make sure that your house is protected as far as possible from the damage of extreme weather. If you live in a flood risk area make sure that you have as comprehensive drainage around the house and hard floors in the downstairs area. Make sure that you storm-proof your windows and that your roof is in good condition to reduce further damage.

Another thing that you should consider is getting an intruder alarm fitted to your property. Again there is a minimum industry standard that you should meet, but if you do your premiums can be slashed by between 5 and 15% a year.

Since fitting a burglar alarm makes your property safer against the risk of theft, so fitting a smoke alarm has a similar effect for fire. The costs of domestic fires can be huge, and some insurers will offer you cheaper premiums on both your buildings and your contents insurance policies if you have decent, well maintained smoke detectors.

When it comes to home insurance there is something of a postcode lottery, if you live in certain parts of the country you will have to pay more and there isn't a lot you can do about it. The most expensive places to live are those that are at risk of extreme weather such as flooding or very high winds. If you live in such a region there are things that you can do to save you money, though you will never be able to get your policy down to the sort of level that you might find in other parts of the country.

Things that you should consider are moving electrical points above any reasonable flood level, replacing MDF kitchen units with plastic equivalents, and replacing carpeted and wooden floors with concrete, tiles and linoleum. If you live in an area with high winds make sure you garden furnishings are properly bolted down and that your roof is in a good state of repair.

Whilst these changes can seem like a large cost, if you happen to suffer a flood they will pay themselves back in little to no time. Make sure that you consult with your insurance company before beginning any work though.

If you are considering getting a new home insurance policy, try Co-Operative Insurance for good value policies.

Make sure you have the right home insurance policy with The Co-Operative Insurance.