Introduction to Cheaper Homeowners Insurance - we all want to save money on our Home Building and Contents Insurance but is there anything we can do to genuinely save money. It is worth pointing out that attempting to save money but not providing the insurer with the correct information is not an option. Failure to present the insurer with all the material facts may well result in your policy being declared null and void in the event of the claim. Similarly, if you are using your Home for anything other that domestic purposes, you may be running a business from home for example, always tell the insurer as this may alter the cover they can provide or indeed you may require extra covers such as Public Liability It is also important to tell your insurers if you let your property or take in lodgers or guests, this again can alter the cover you require.  Some useful tips are as follows:-

• Shop around, it always pays to contact as many insurance providers as possible, rates do vary from provider to provider and you may find that certain insurers just happen to be more competitive in your area than others.  If you use the services of an Insurance Broker or Intermediary, they will be able to check rates from multiple sources for you.

• Enquire as to if the insurer will allow a no claims discount, even if you have not been given a non claims bonus in the past, you may find that if you tell the insurer that you were insured with “ X “ insurance company for a certain number of years, they will be prepared to offer you a discount. The discounts usually vary from between 5 & 25 % so they can be worth having.

• If you fit a burglar alarm to your property, you may find that your insurers are prepared to give you a discount from the basic premium. Be careful though, in return for a discount you may find that an “ alarm warranty” is added to your policy requiring you to set the alarm before leaving the premises and sometimes even at night after you have retired to bed. Failure to set the alarm as per the policy condition may affect the cover in the event of a claim.

• Insurers occasionally will give you a discount if you insert a safe at your home to hold your jewelry or other valuable items. Safes normally come with a cash rating and before purchase refer to your insurer or locksmith for guidance. The cash rating is the amount of cash that can be kept in the safe and there will normally be a correspondently higher limit for jewelry

• To obtain cheaper homeowners insurance, some Insurers may consider a discount if you install security lighting at your Home.

• An insurers may offer a discount if you join the local neighborhood watch scheme.

• If you fit quality locks to you home, a guide can normally be obtained from your insurers, you may qualify for a discount. In certain areas having “ minimum security” is a requirement for Theft cover to be operational..

• Fit Smoke alarms to your property, insurers will usually consider a discount for the fitting of these devices and they are relatively cheap to buy and even in the absence of any discount can prove to be a lifesaver.

• Certain insurance companies are now offering discounts for persons that do not smoke. A significant proportion of Fire Claims are caused by smoking particularly late at night

• You may want to consider increasing your policy excess in return for a discount. The standard home insurance policy excess is usually £50.00 increasing to £1000 in respect of subsidence claims. You may feel that you have no intention of claiming for small amounts and thus larger excess is more suited to your requirements. Excesses of up to £500 are usually available

• When insuring “ All Risks” ask you insurer if they will consider offering a lower rate if you are prepared to specify items.

• If you are retired or spend a lot of time at home, point this out to your insurer, some insurers provide discounts for Retired persons or once you have reached a certain age.