7 Money Saving Tips for Your Building Insurance
Whilst buying building insurance is essential for every homeowner, it’s hardly an exciting purchase! So is it any wonder that most people would rather not spend more money than they really need to when it comes to their home insurance?
Although good cover costs money, choosing to go without can put you at huge risk and will cost you a great deal more in the future, should the unexpected happen. Fortunately, purchasing home insurance doesn’t have to break the bank. Just as you would shop around for the best mortgage rates or price on a property, it’s about finding the best cover to suit you.
Save Money on Your Home Insurance…
Here are 7 Money Saving Tips for Your Building Insurance:
Find a specialist
Seek out an insurance specialist. Buying from a professional insurance advisor means that you can get the best cover to suit your own unique situation and any unusual building or cover concerns you may have – at a price to suit your budget.
If you can afford to, always pay your insurance fee annually. This can often work out cheaper than paying on a monthly basis.
Know the value of your home
You may know the market value of your home, but do you know it’s true rebuild cost? When completing their policy details, many homeowners over-estimate the value of their property, costing them more in higher premiums. For an accurate rebuild cost, seek the opinion of a chartered surveyor.
Fit smoke alarms
Faulty electrics cause around 7,000 house fires across the country every year, so make sure you have smoke alarms throughout your property. Remember to check them regularly to make sure they’re working properly.
Do you really need lost key cover, legal cover or accidental damage cover? Think carefully about any additional premiums you add on to your policy. The add-ons on offer are not always essential to everyone, so unless they’ll be beneficial to you, avoid the additional expense.
Make sure your home is safe!
Updating and fitting home security measures such as burglar alarms, fire alarms and CCTV will help to reduce your premiums. The security of your home is always a wise investment, so if it’s going to save you money on your home insurance too, what is there to lose?
Do you need to claim?
Thinking of making a claim on your home insurance? Always think twice. If its minor damage or an easy repair, consider resolving the issue yourself if you can to protect your no claims discount.
How Much Building Insurance Cover Do You Need?
Good building insurance cover is used to cover the costs of any repairs or damage to your home. In a worst case scenario, it could also cover the costs to completely rebuild your home. For this reason, it’s essential you get an accurate valuation figure on your property. Accurate details on your policy could mean the difference between paying too high of a premium or too little, possibly resulting in not having the cover to completely protect your home.
Want to get the right home insurance for you? Contact Amber Mortgage Solutions today, for friendly and professional advice. You can call us on 01702 619221 or contact us online.