Home insurance should be very high up on anybody’s list of priorities when it comes to owning a house. Home insurance is split into two types: contents insurance and building insurance.
Buildings insurance will cover any structural damage to your home; this includes the main building, but can also be expanded to cover other structures like swimming pools and garages. In contrast, contents insurance will cover the actual items within your home, such as TVs, laptops and any personal valuables you have.
There is an enormous number of policies available on the market, but all too often homeowners pay far more than they need to insure their homes. We at Cuuver want to ensure you opt for the best insurance policy to suit your situation, which is why we are here today with some helpful tips on how to avoid overpaying for your home insurance.
Following these simple steps could spare you a great deal of money in the long run.
Let your insurance reflect your contents
You should never estimate the cost of your insurance, you should know how much you need to spend. Many people make the mistake of over-insuring their property or possessions, and this serves no purpose. Make sure your contents insurance is an accurate reflection of how much your contents is worth and make sure that your buildings insurance will be sufficient to rebuild your home, but don’t go overboard.
Cut down your risks of a fire
Reduce the risk of needing to claim on your insurance by covering the basics. For example, reduce the risk of fire by fitting smoke alarms on each floor of your home and make sure they are maintained.
Reduce the threat of theft
Simple precautions to protect your home from burglary can save you money on your insurance. Fit approved locks to your home to get a discount on your insurance. NACOSS standard alarms can also mean a further discount.
Don’t just consult your mortgage provider
While going with your mortgage provider when it comes to insurance will save you time, it may not save you money. Often, you will be able to find a better deal on your home insurance, elsewhere.
Insulate your pipes
Frozen pipes can result in a flooding nightmare, so properly insulating them could save you a lot of aggravation, as well as result in a lower insurance bill.
This should not be constructed as advice and is guidance only.