Home insurance: cutting your costs

If you want to reduce the cost of your home insurance, you will as a minimum still need buildings insurance to cover the cost of repairing or rebuilding your home. It is up to you whether you want to also insure the things inside your home, although it could be an expensive gamble if something did go wrong and you were uninsured.

To reduce your premium, there are some things you can do that will not leave you unprotected and that cost little or are free. Firstly, do shop around for your home insurance. Different companies offer different deals, so you may find big savings.

There are lots of price comparison websites, and most will help you understand the different levels of cover as well as just quoting prices. It is important that the policy you have meets your needs so do look at the details.

Buying your buildings and contents insurance from the same company can help reduce the price. Some also offer cheaper deals for travel and car insurance if you use the same provider.

If you opt for a home insurance policy with a higher voluntary excess you will usually get a cheaper deal, but be realistic about what you would be able to pay if you did have to make a claim. Dont forget, the real reason to get home insurance is to give you financial protection if your house or belongings need to be mended, rebuilt or replaced, so it is not worth buying a really cheap policy that would still leave you financially struggling if there was a real disaster such as a house fire.

By fitting an approved burglar alarm and getting proper locks you can further reduce your premium. This will also of course reduce the chances of a burglary which is not just expensive but can be very traumatic.

Look for deals where you can pay annually in a lump sum rather than monthly instalments, there is often a discount. Finally, try and join a Neighbourhood Watch scheme, this costs nothing and can make your home insurance cheaper.

In your attempts to reduce your premium, dont be tempted to lie to your insurer about the condition of your home because otherwise the insurer may not pay out.

Whatever you call home, whether it's a three-bedroom semi, a country cottage, or a penthouse apartment, Kwik Fit Insurance's panel of leading insurers find you the best price for home insurance.