Home Insurance
an excellent deal on your House Insurance
Home Insurance - Frequently Asked Questions
Your quote is low and the cover is good, but can I get this policy cheaper?
There are things you can do to reduce your premium. The first thing you should do is check that you are insuring your house for the correct amount, particularly regarding your buildings cover – do not insure for the market value, you should only insure for the rebuilding cost. More information, and a rebuilding cost calculator, can be obtained from the Association of British Insurers website http://www.abi.org.uk If you have purchased your house recently then your surveyors report should tell you the rebuilding cost.
Something else to consider is a voluntary excess – by accepting that you will pay more in the event of a claim you could reduce your premium. This means that instead of the standard excess, which you would pay for each claim (excluding subsidence claims to your buildings), you could choose to pay the first £100, £250, £500 or £1,000 of each claim. This could help reduce the cost of your insurance.