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How-to Guides » Cut your home insurance costs

Home insurance is an expensive necessity. Find out how you can reduce the cost.

Research carefully

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Increase the excess
When you apply for your home insurance policy, you can say how much excess you’re prepared to pay (the amount you'll have to fork out if you make a claim). By increasing this excess, your premiums will be lower. So if you’re trying to save money, have a play around on the lovemoney.com home insurance comparison tool to see how prices compare.

Just bear in mind that if you do make a claim, a higher excess could put a serious dent in your finances.

Double up?
Buying your building and contents insurance together may seem like a smart move, and many insurers will shout about the massive discounts you can get if you buy both products from the same insurer.

But this isn't always the case, especially if you live in an area at risk of flood, or if your home is prone to burglaries, so it always pays to shop around.

Use our home insurance comparison tool for separate and combined quotes to see how much cover will cost you.

Loyalty doesn’t pay
When your home insurance policy is up for renewal, don’t simply ignore the letter you receive from your insurer and let your policy roll over for another year. Insurers tend to offer their best deals to new customers only and then push the premiums up in the second year. So even if you had a good deal for the first year, chances are you’ll pay a considerable sum more in the second.

So make sure you do your own research, compare various home insurance policies online, and see if you can get a better deal elsewhere!

Insurance hierarchy
Some policies will let you have a joint policy holder, which is useful if you want a second person to manage and make changes to the policy.

However, play around with your quote, as some we obtained were more expensive than others depending on who was the 'main' policyholder. What's in a name? Quite a lot it seems...

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