After spending so much buying items for your house, the last thing you want is to have to incur heftily on contents insurance. That said, content insurance premiums are expensive. With a few tips and pointer, however, you can cut down on insurance costs without affecting your actual cover.
Buying the cheapest house insurance policy is not a wise move. However, this doesn’t mean that you have to spend hefty sums on the same. With the right information, you can reduce your insurance costs without lowering your premium. One way to do this is by taking advantage of discounts.
The insurance market in Australia is very competitive. Building insurance firms have to fight for every contract by offering deals and discounts convince clients to switch. Firms retain their customers by providing multi-policy discounts for all the policies that a client has with them. For instance, you can get discounts for your car, boat, home, and contents if they were taken from the same firm.
Asking for loyalty discounts is another way to reduce your home insurance quotes. This is applicable if you have been a good customer to the insurer for several years. Some insurers offer this discount automatically to their clients who have made no claims so far. Another useful trick is selecting a higher excess provided that you can afford it. The downside here is that you have to pay the excess to make a claim. Check your certificate of insurance for the type of excess and amount applicable to your policy.
You should be discounted for home security and safety features. Every effort you make to safeguard your home and property from destruction or burglary should earn you a discount. Having smoke alarms, deadlocks, or security alarms qualifies you for insurance discounts. Lastly, you should be in a hurry to renew the policy. This is because premium rates change every year in different territories and states. Do some research and compare policies and quotes to ensure that you are still getting a good deal.