7 Tips for Lowering Home Insurance Costs
As we head toward 2016, it may be beneficial to review your home insurance costs in order to identify any areas where you may be able to save money. To help ensure your policy is cost effective and appropriate, consider doing the following:
- Raise your excess: The higher your excess is, the lower your premium will be. Although you will have to pay more out of pocket if your home is damaged, you could conceivably cut your premium by as much as 25 per cent.
- Consider the rebuild cost: The rebuild cost of your home is the amount it would cost to completely rebuild. This cost is usually lower than the home’s market value. Base your home insurance policy on your rebuild cost rather than the market value to ensure you are not overpaying for your cover.
- Purchase multiple policies from the same broker: Contact Saffron Insurance to see if you can receive a discount on the cost of your premium by packaging several policies together.
- Make your home more disaster-resistant: By installing inclement weather protections such as storm shutters and roof reinforcements, as well as updating the heating, plumbing and electrical systems in your home, you could lower your premium. Contact Saffron Insurance Services to find out if any additions can help lower your premium.
- Improve your home’s security: Smoke and security alarms, deadbolts, and more sophisticated home security systems could potentially reduce the cost of your premium. Although you would have to pay out of pocket for these security devices, each item could not only help lower the cost of your premium, but could also help ensure a more secure life for your family.
- Stay with the same insurer: By remaining loyal to Saffron Insurance Services, you could be eligible to receive a discount for your premium. Contact us today to discuss what benefits you could receive by remaining a loyal customer.
- Review the limits in your policy and the value of your possessions: Look over your policy limits and determine whether any need to be increased or reduced. Additionally, if you own any high-end electronics or have a collection of some kind, be sure to include those items in your policy.
Contact Saffron Insurance Services today to discuss what additional measures you can take to ensure your policy is as thorough and affordable as possible.