How to reduce your home insurance premium

• Check your level of cover
• Increase your voluntary excess
• Buy Buildings and Contents Insurance together
• Buy your home insurance policy online
• Pay in one go
• Protect your home against fire
• Install a burglar alarm
• Secure doors and windows with approved locks
• Insulate water pipes
• Join a Neighbourhood Watch scheme
• Install a safe
• Build up your no claims

As well as shopping around and comparing various home insurance quotes online, there are a number of other measures you can take to help lower the cost of your  home insurance cover:

Check your level of cover

Remember to be as accurate as possible when estimating/calculating the total value of the contents within your  property. Insuring your possessions for more than they are actually worth will result in you having to pay more than you should for your contents insurance.

Increase your voluntary excess

A voluntary excess is the amount of  money you agree to pay towards any claim you make on your home  insurance policy in addition to the compulsory excess. Volunteering to pay a higher excess on any claims will lower your insurance premium. But remember to never set the total excess (compulsory and voluntary excess) higher than what you can afford to pay in case you need to make a  claim.

Buy buildings and contents insurance together

Many insurance companies will provide a discount on your premium if you take out buildings and contents insurance together rather than from separate companies.

Buy your home insurance policy online

In an effort to attract new business, insurers often offer a discount of up to 15% for customers who buy online.

Pay in one go

It may be cheaper to pay for your home insurance policy up front or on an annual basis as opposed to monthly payments.

Protect your home against fire

Make sure you have at least one smoke alarm fitted on each floor of your home and keep a fire extinguisher in the kitchen. Also, take simple steps to avoid fire breaking out - for example, don’t leave candles lit for too long or around pets and children.

Install a burglar alarm

Having a  burglar alarm or security system installed in your home will most likely reduce your insurance premium. Contact your insurer first to see what devices they recommend and ensure that the system you choose is fitted by a professional and maintained on an annual basis.

*If you live in an area that your insurer considers high risk, such as a busy city centre, you may be required to have certain security measures in place before your insurer offers you a home insurance policy.

Secure doors and windows with approved locks

Ensure all windows and doors in your property have approved locks, e.g. five-lever mortise deadlocks for all external doors and key-operated  window locks for all accessible windows. Most insurance companies will offer discounts on homes that have these locks fitted.

Insulate water pipes

Each year thousands of homes in the UK suffer flood damage caused by water pipes that freeze and burst. Making sure the pipes in your property are properly insulated could protect your home against such damage and spare you from higher insurance premiums.

Join a Neighbourhood Watch scheme

By becoming part of a neighbourhood  watch scheme, not only will you have the extra security of having more people looking out for your home, you may also qualify for a discount of up to 5% on your home insurance.

Install a safe

Keeping expensive  jewellery and other valuable items locked away in a safe will help reduce the extra cost that many insurers charge for protecting high-value or high-risk items.

Build up your no claims

As with any type of insurance, insurers will give discounts to customers who have a number of claim-free years to their name. In contrast, those who have a history of making claims will be quoted higher insurance premiums.