1. Review Your Home Insurance Annually
Don’t forget that a lot can change in a year. Have you bought new jewellery, fitted a new house alarm or changed your home? All of these factors can affect the cost of your home insurance. Make a note of any changes you have made to your home throughout the year and inform your insurance company before your renewal date.
You may be pleasantly surprised and end up with cheaper home insurance. Don’t forget that if you have purchased valuables throughout the year, they may not be covered under your current policy. Call your insurance company to update them on anything extra you want to insure.
2. Shop Around
Home Insurance might not be your top priority, but it’s essential to consider it before your renewal date. Allow yourself some time before your renewal date to ring different insurance companies for the best price. Don’t forget that the cheapest price isn’t always the best option. Make sure that you compare what each provider includes in each policy. You can get a home insurance quote with KennCo by clicking here.
3. Don’t Over Insure Your Home
It’s important to remember that your home insurance covers the cost of rebuilding your home, not the value of your home. The value of your home may be increased by location or demand, but this does not affect the rebuilding cost. If you provide your insurance company with the value of your home instead of the rebuilding cost, you may pay a higher premium than necessary.
4. Secure your Home
Adding extra security features to your home can help reduce the cost of your home insurance bill. It gives you added peace of mind, and insurance companies reduce your premiums if the chances of break-ins or fires are reduced. Discounts are applied to your premium with KennCo if you have two or more smoke alarms and a burglar alarm fitted.
Some other items that could lower your home insurance premium are:
- Monitored Alarms
- Security Locks
If you have 3 or more years of no claims bonus, KennCo automatically applies a 30% discount on your premium.
4. Increase your Excess
If you increase your voluntary excess, you are likely to see a reduction in your home insurance premium. Voluntary excess refers to the amount of a claim you are willing to pay on top of the compulsory excess. If you think you are unlikely to make a claim, it may be worth considering increasing your voluntary excess. However, you must be aware that in the event of an accident, you could end up paying more money out of your own pocket.
If you are considering purchasing a home insurance policy, get a secure quote from KennCo today to see how much you can save.
5. Window Security
Windows are often seen as the weak link in home security. However, with the proper measures, they can be transformed into impenetrable barriers. Consider installing window locks and laminated glass to deter potential intruders. Security grilles and shutters can add an extra layer of protection, giving you peace of mind.
6. Regularly Reviewing Your Policy
Time flies. And as it does, things change, including the value of your home and its contents. This is why regularly reviewing your policy is not just smart; it’s essential. Let’s delve into this a bit more.
The Importance of an Annual Review
An annual review is like a health check-up for your home insurance policy. It allows you to adjust the coverage per changing circumstances, ensuring that you are neither over-insured nor under-insured. It’s a time to reflect on the changes in your life and how they impact your insurance needs.
Our new Contents Only product is ideal for Renters in Ireland who want to protect their possessions in rented homes. Click here to apply for a Contents Only Home Insurance Quote.