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How to Save Money On a Home Contents Insurance Policy


While many of us may have been with the same insurer for years, perhaps even decades, it’s prudent to shop around and look into what different insurers are offering. There is a whole host of discounts and reduced rates available, as well as some little things you can do to reduce the cost of the premium you settle with. Read on to find out more.

Buy online and compare prices – visit a price comparison website or use a home insurance comparison tool to source the best home insurance deals. Similarly, if you’re buying a house and your mortgage provider offers you a home contents insurance policy, don’t accept on the spot. Keep shopping around – you’re bound to find a better deal online.

If you can afford to, pay up front – often, insurers will offer a discount for lump sums as opposed to monthly instalments.

Either combine or look into getting separate home contents and buildings insurance. A combined policy will often enable you to strike a good deal with your insurer. On the other hand though, getting separate buildings and contents cover could also work in your favour. Just make sure you look into it.

Accuracy is key. Don’t over or under-estimate the total of the value of your possessions when you’re obtaining a quote. Over-estimating could result in you paying an inflated premium, while under-estimating could see you seriously out of pocket in the event of theft or damage.

Agree to pay a higher excess. The higher the excess you agree to pay in the event of the worst happening, the cheaper your annual premium will become. Be careful here though – don’t agree to pay a higher excess than you could reasonably afford if it came down to it.

You can also make some relatively cheap home improvements to secure a better deal. Installing smoke alarms around your home and a fire extinguisher and fire blanket in your kitchen will make your home safer and therefore ensure that it qualifies for a lower premium.

Similarly, trimming high hedges around your home’s perimeter, installing a NACOSS-approved burglar alarm system and secure, lockable windows and external doors (British Standard BS7950 and PAS 24-1, respectively) will greatly improve security, thus lowering your premium. Installing a safe is also a good idea if you’re looking to insure small items of high value, for which insurance companies usually charge a premium.

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My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

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