Spend less on essential cover by taking advantage of home and contents insurance deals
Home insurance is a significant investment, but you can save considerably by looking for discounts before settling on a policy. Use these savings to purchase a higher level of cover and enjoy additional protection, or end up with more money in your pocket.
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What other types of discounts can I get on home insurance?
Before choosing an insurer, check which of the following discounts you may be eligible for:
- Multi-policy discounts. By holding multiple insurance policies with an insurer, you can often get additional discounts on secondary policies, including combined or separate home and contents cover.
- Cheaper policies online. You can get a discount of up to 25% just for buying home insurance online.
- Membership and loyalty discounts and bonuses. Whether it’s free rewards for members, increased discounts at each policy renewal or straightforward reduced prices after a certain amount of time, you can save more money by sticking with the right insurer.
- Security system discounts. If your home is well secured, you don’t need to pay as much for cover.
- No-claims discounts. As with other types of insurance, you can receive a discount if you haven’t made a claim for a certain amount of time.
- Seniors’ discounts. Over 55s and pensioners can sometimes get a seniors’ discount.
How else can I save on cover?
Almost everyone can access home insurance discounts and there are many ways to save through careful policy management.
- Opt for a higher excess. Many insurers will let you choose lower premiums for a higher excess or vice versa.
- Avoid unnecessary claims. Maintain your no-claims bonus by avoiding small, non-essential claims. If you intend on doing this, you may want to opt for lower premiums and a higher excess.
- Consider your payment schedule. Consider what kind of payment schedule works for your budget. Paying your premiums annually is often cheaper than paying monthly. If you can’t pay your premium all at once, it’s worth looking for an insurer that offers monthly, fortnightly or other payment schedules at no extra cost.
- Good maintenance and weatherproofing. Many home insurance claims are the result of poor maintenance or not having an appropriately weatherproofed home. Reduce your chances of needing to make a claim and keep total costs down by making sure your home has suitable weatherproofing for your area and by fixing small problems before they become big ones.
- Choose the right sum insured. Your total sum insured is the amount you could claim if you lost everything. If it’s too low then you’re underinsured and if it’s too high then you’re paying too much. Choose the right amount for your needs and consider discounts as a way of either reducing costs or getting additional cover at the same price.
What types of home insurance policies can I get discounted?
The discounts available depend on the insurer and on any limited offers that are present at the time. Based on these factors, you can get deals on the following:
- Combined home and contents insurance. It’s usually more cost effective to bundle your home and contents insurance with the same provider. You can then find additional discounts for a combined home and contents insurance policy here.
- Building insurance or contents insurance. Sometimes it might be more effective to separate your building and contents insurance policies. When separated, you can get discounts for building-only insurance and deals for contents-only cover.
- Renters insurance. Discounts aren’t limited to homeowners. Renters can also find ways to spend less on cover.
- Landlord insurance. Landlords can save too and enjoy many of the same deals on home and contents insurance policies.
By looking for deals and discounts, you don’t leave yourself unprotected. Almost everyone, no matter what their living situation or insurance needs, can find discounts for their home insurance. If you’re paying full price for your cover, it might be time for a change.