Home insurance tips to save you money

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Home insurance comprises of contents cover and buildings cover and there are many home insurance tips that can save you a great deal of money. To begin with if you are taking out both policies then you could check to see if you would be able to get both policies together cheaper with the same insurance company than taking them out separately with different companies.

When looking into taking out buildings cover then you would have to work out how much it would cost to rebuild your home if it was to be totally destroyed. If in the event of a fire your home was to burn down to the ground then you would have to rebuild, so you need to get an estimate as to what the home is worth. However when taking this into account, do not count such as land around the property, it is unlikely that land would be touched and you would be paying out far more by including land.

Taking out home contents insurance means that you will pay a premium based on the amount that you want to insure against. Therefore you will have to take an inventory of the contents of your home to find this figure. If you take a wild guess and choose a figure from the top of your head then you could be under insured. However if you over insure then you will be paying out more for insurance you do not need. The best way to get a correct figure is to go around your home and write down everything in it. A contents policy would usually cover anything and everything that you could take with you if you decided to move. Buildings cover would protect the shell of your home and things that were not removable such as fitted kitchens and bathrooms. Do not forget to check wardrobes and kitchen cabinets as all the little things add up.

One of the best home insurance tips is to make sure that you read the terms of the policy and the key facts. All insurance policies will have exclusions and limits up to what you can claim. For instance if you work from home and have an office in your home with expensive equipment in it, make sure that this would be covered in a standard policy. You could also find that such items as expensive jewellery and collections would not be covered in a standard policy.

You always have to pay excess on any type of insurance policy and when looking for home insurance tips you could save money by offering to payout more in the excess. The excess is the amount that you would have to pay towards the claim before the insurance company would take over and pay. For instance if the policy states £50 excess then you would have to find this amount. If you offer to pay a higher amount than stated in the policies terms, then this can bring down the premiums that you pay each month for your home insurance.

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