News
Reduce your home insurance premium
Brian Brown, Head of Insight and Research
With over 500 home insurance policies in the market today, it can be difficult to determine where to start if you want to bring your premium down without compromising on the level of cover you have.
Our research encompasses 297 buildings insurance policies and 298 contents insurance policies across the whole market and we've identified several ways to get a discount without impacting on your actual cover.
- Go online - 19% of policies give a discount for online purchases via the insurer’s website
- Buy buildings and contents at the same time - 85% of policies give a discount if both buildings and contents insurance cover is purchased from the same insurer at the same time
- Tell the insurer if you haven't made any claims - 67% of policies offer a ‘no claims discount’ if you do not make a claim
- Fit an alarm - 69% of contents policies offer discounts for alarms fitted
- Fit smoke detectors - 22% of contents policies offer discounts for smoke detectors fitted
- Fit locks on your windows and doors - 64% of contents policies offer discounts for approved door and window locks
- Join your local Neighbourhood Watch scheme - 43% of contents policies offer discounts if you are a member of a Neighbourhood Watch programme. Contact your local council for more information.
- Pay by direct debit - 30% of providers do not charge extra for payments by monthly direct debit which would help spread the premium at no additional cost
If you're still unsure which policy best suits your needs, you can use our Star Ratings as a guide to help your choose the overall level of features and benefits offered. Policies offering a basic level of features and benefits would be rated as 1 Star and those with the most comprehensive range of benefits a 4 or a 5 Star. Alternatively, compare your policy features with another policy to see the difference in cover provided.
