Simple Ways To Save On Your Home And Contents Insurance
Insurance.
Is it just another expense or is it really a necessity? In an economy where we are all counting the pennies we all have to face some tough decisions on cutting certain expenses.
Home and contents insurance is probably not one of those cuts as it is a really important way to protect your home and your financial future.
Worse case scenario is that you home burns down and you lose everything.
Imagine that and imagine the financial impact that will have on you.
While its probably not going to happen to you, the reality is that you have to be prepared for the worse.
That's the whole point of getting insured.
If your premiums is getting too high and you are reconsidering your home and contents insurance, then there are options.
You do not have to go "naked" and dump your entire policy.
You simply need to get smart and make sure that you are insured and protected against the most important things.
So, how can you still get adequate insurance without spending so much? Here are a few simple tips that you can start implementing immediately.
Split your policy.
What we commonly refer to as home and contents insurance is actually 2 separate policies.
Buildings insurance is there to insure the physical property.
This includes the structural components as well as the land your building sits on.
This is the most important component because this will insure you against really expensive losses and structural damage.
Contents insurance only protects the "contents" of your home and its typically stuff like electronic equipment and furniture.
Often times its not really worth ensuring these and you can easily save a fortune by re-accessing your contents insurance.
Old Homes.
Older homes are usually considered to be a much higher risk to ensure.
If you live in a period home that is more than 100 years old then its probably considered a higher risk.
You should speak to your insurer about this, but by attending to certain risk factors you could actually address the issue.
By installing a proper fire alarm system, upgrading your gas lines and rewiring the building you can reduce the risk severely.
These are big up-front expenses but in the long run it will be worth the money.
Safety Measures.
Did you know that some basic safety measures can have a huge effect on the cost of your home insurance? Do you have a working fire alarm system? Have you had your gas lines checked and an alarm installed? Even when it comes to security, something as simple as a security gate at your front door can make a difference.
Talk to your insurer to see how you can reduce your risk and bring the cost of your premiums down without compromising on your cover.
Is it just another expense or is it really a necessity? In an economy where we are all counting the pennies we all have to face some tough decisions on cutting certain expenses.
Home and contents insurance is probably not one of those cuts as it is a really important way to protect your home and your financial future.
Worse case scenario is that you home burns down and you lose everything.
Imagine that and imagine the financial impact that will have on you.
While its probably not going to happen to you, the reality is that you have to be prepared for the worse.
That's the whole point of getting insured.
If your premiums is getting too high and you are reconsidering your home and contents insurance, then there are options.
You do not have to go "naked" and dump your entire policy.
You simply need to get smart and make sure that you are insured and protected against the most important things.
So, how can you still get adequate insurance without spending so much? Here are a few simple tips that you can start implementing immediately.
Split your policy.
What we commonly refer to as home and contents insurance is actually 2 separate policies.
Buildings insurance is there to insure the physical property.
This includes the structural components as well as the land your building sits on.
This is the most important component because this will insure you against really expensive losses and structural damage.
Contents insurance only protects the "contents" of your home and its typically stuff like electronic equipment and furniture.
Often times its not really worth ensuring these and you can easily save a fortune by re-accessing your contents insurance.
Old Homes.
Older homes are usually considered to be a much higher risk to ensure.
If you live in a period home that is more than 100 years old then its probably considered a higher risk.
You should speak to your insurer about this, but by attending to certain risk factors you could actually address the issue.
By installing a proper fire alarm system, upgrading your gas lines and rewiring the building you can reduce the risk severely.
These are big up-front expenses but in the long run it will be worth the money.
Safety Measures.
Did you know that some basic safety measures can have a huge effect on the cost of your home insurance? Do you have a working fire alarm system? Have you had your gas lines checked and an alarm installed? Even when it comes to security, something as simple as a security gate at your front door can make a difference.
Talk to your insurer to see how you can reduce your risk and bring the cost of your premiums down without compromising on your cover.