Tips for saving on home insurance

Defaqto has revealed some of the ways in which individuals could save money on their home insurance policies .

The company has trawled through 297 buildings insurance and 298 contents insurance policies and found some ways in which costs can be cut.

Among them are purchasing a policy through a website, selecting higher excesses, fitting alarms or smoke detectors and using approved door and window locks .

Brian Brown, head of research at Defaqto, said: The annual home insurance premium can be considerable but there are often a number of ways to reduce the premium without having to compromise on the cover.

We have identified nine ways to get a discount and only one of them - raising the excess - impacts on the actual insurance coverage.

While it is important to try to save money on home insurance, it is also crucial to make sure that a policy is bought that provides adequate cover for possessions.

This is particularly important if renovations or improvements have been made, potentially leaving a homeowner underinsured.