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Reducing Home Insurance Premiums

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We all know how imperative it is to have home insurance. Home insurance covers any mishaps that might occur and enables you to replace the contents of your home and even the home itself!

There are different types of home insurance and the premium you pay will of course depend on the type you choose and the level of cover you select. There are many factors to be taken into account and there are certain precautions you can take to ensure your insurance premiums are as low as possible.

Here are the top 5 ways to help you reduce your home insurance premiums.

Install A Security Alarm System

Do you know that you could save as much as 7.5% on your home insurance premium  by simply installing an top quality alarm system? The better protected your home is, then the harder it will be for thieves to break in. Do note that there only certain types of alarm are preferred by some insurance companies, so simply installing an alarm system might not be enough to bring down your premium. It is always worth seeking advice from the insurer when thinking of protecting your home by installing security alarms.

Install A Smoke Alarm

Since the majority of fires caused in the home are caused by cooking and smoking, installing smoke alarms in your home can reduce the premium you pay. Most insurers will ask if you have taken the precaution of installing smoke alarms, and even in some cases they are a requirement.

Increase The Excess Amount Of A Claim

Increasing the amount of money which you are willing to pay in excess of a claim, in the event of a mishap, can reduce the premiums. For example, you could make a saving of over 5 percent if you were willing to pay in excess of 250.

Join The Neighborhood Watch

This is also helpful if you currently live in a neighborhood which runs a neighborhood watch program. By joining this scheme, you could save as much as 5% on your insurance premium.

Remove The Unnecessary Add-ons

To cap it all, give much thought to the amount of cover you really need, especially the add-ons. The unnecessary covers can be removed to save money on your premium. For instance, you could save yourself as much as 25% in premiums if you don’t include accidental damage cover in your policy. Also, keeping your “no claims” discount down will save you money, so never make claims for the smallest thing.If you follow all these guidelines, you’ll take a big chunk off your insurance premium.

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