Home insurance, both buildings and contents insurance is a key requirement for homeowners but as premiums rise we take a look at how to get the best home insurance cover.Consumers are no doubt keen to buy home insurance cover at the cheapest price. It is not though just about the cheapest price though. Critically the right level of cover must be bought to meet individual needs and this needs to be obtained at the lowest price possible.Steps can be taken to improve your chances of securing a lower premium.With the help of moneysupermarket we take a look at home insurance top tips:
- Change the locks – If you’ve moved to a new home you never know who might still have a key – remember five-lever mortise locks are recommended for external doors while windows should ideally have two bolt locks
- Install a good home security system – Sometimes there are alarm systems that might be preferred by an insurer eg the NACOSS standard alarm can cut premiums with some companies by 7.5%
- Time-switch lights – Your home is more vulnerable to theft when you are not around, having time-switch lights can help give the impression that you are at home
- When away from home – Remember to cancel newspaper and milk deliveries and ideally ask someone you can trust to open and close the curtains and collect mail.
- Be careful with keys – Don’t leave them in obvious places such as under a doormat. Also beware of ‘hook n crook’ thefts – where keys are left so close to a door that a burglar can simply hook them through a letterbox and open the door
- Install security lighting – illuminate your visitors for their safety as well as your own – somone in a spotlight is unlikely to loiter
- Join a neighbourhood watch campaign – this can help to reduce your premium if you inform the home insurance company of your participation in a scheme
- Take action to avoid frozen and burst pipes – If you think pipes are frozen, turn off water at the valve and header tank to cut down the water that can escape
- Fire – Fit a smoke alarm and take simple steps to avoid accidents. Most fires in the home are caused by smoking or cooking; never smoke in bed, don’t leave cigarettes lying around and don’t leave cooking unattended. Also close doors at night to contain fires, check the home is safe before going to bed and keep matches away from children
- Don’t smoke – Most insurers will now ask if you are a smoker as the fire risk increases if you are
- Think carefully about the cover you neeed – For example, do you really need accidental damage cover? This can increase premiums by 25%.
- Don’t claim unless you need to – The fewer the claims, the higher your no claims discount. If there’s a minor minor issues that would be inexpensive for you to cover with your own cash, it might be better to do so.
As Julie Owens of moneysupermarket.com comments: “The amount of fraudulent home insurance claims is really shocking; there are now around 170 per day. It is a shame that dishonest consumers are forcing up costs for everyone. This has resulted in many insurers no longer promoting incentives or offering a discount on their products.The only way for consumers to ensure they get a good deal is to compare prices and ensure that they get the right level of cover they need at the lowest possible price.”MoneyHighStreet.com comment: If your requirements are not standard, perhaps for example you have a high value property, multiple properties or perhaps a high value collection, it is unlikely you’ll get automatic online quotes provided through comparison sites and standard home insurance may not be your best deal.In these circumstances you may be better covered by High Net Worth home insurance or high value home insurance and you’re likely to benefit from getting professional insurance advice and guidance from an insurance broker.So an option is to buy High Net Worth home insurance via an Insurance BrokerMoneyHighStreet has partnered with a leading insurance broker, W B Baxter Insurance Brokers Ltd, to offer High Net Worth home insurance advice and products via a top quality service.Contact Baxters and get Free advice about your high net worth home insurance, understand what your best options are and as appropriate buy home insurance.Media Netrix Limited is an Introducer Appointed Representative of W B Baxter Ltd, an insurance intermediary authorised and regulated by the Financial Services Authority (FSA). W B Baxter Ltd is bound by its rules in the conduct of its general insurance mediation activities. Details of W B Baxter Ltd’s authorisation (registration No 146480) can be checked by visiting the FSA’s website http://www.fsa.gov.uk/register or by telephoning 0845 606 1234.Please note that as an Introducer Appointed Representative of W B Baxter Ltd, Media Netrix Limited is not able to give you advice on any general insurance products or the W B Baxter Ltd services.The registered office of W B Baxter Ltd is 263 Cranbrook Road, Ilford, Essex IG1 4TG. Registered No 277519.