Jul
19Nine ways to save on home insurance
Tagged Under : Home Insurance, Insurance
Defaqto is promoting a number of ways in which to reduce the cost of home insurance without compromising on cover.
The research firm’s analysis of 297 buildings and 298 contents policies revealed that 19% of policies give a discount for online purchases via the insurer’s website, while 85% discount premiums when buildings and contents cover are purchased from the same provider at the same time.
Eighty-six per cent reduce premiums in return for a higher excess and 67% offer a “no claims discount” when a policyholder proves to be claim free.
Simple security measures also help, with 69% of contents policies offering discounts for intruder alarms; 64% for approved door and window locks and 22% for smoke detectors.
Furthermore 43% of contents policies under scrutiny have more favourable terms for Neighbourhood Watch members and 30% don’t charge extra for payment by monthly direct debit.
Defaqto’s head of research, Brian Brown, says: “We have identified nine ways to get a discount and only one of them – raising the excess – impacts on the actual insurance coverage.”
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