Cut The Cost Of Home Insurance.

Home insurance premiums are rising by 16/17% according to consultants EY Global. In many cases increases are over 20% as banks, building societies and online insurers react to inflation and storm damage. This means many homeowners are paying over £1500 a year for home insurance.

Fight back against the premium increases.

Below are four tips that can help you fight back against increasing home insurance premiums.

Improve Home Security

• Locks – 5-lever mortice locks with Yale locks as secondaries are ideal locks to have for wooden doors. Also having multi-point locking systems where three locking points operate simultaneously for UPVC doors. It’s also worth noting that insurers prefer to see that a home has key-operated window locks.
• Alarms systems – Insurers provide lists of approved/recognised systems that act as a deterrent to thieves.
• Safe Storage – Installing a safe for valuable items, such as watches, jewellery and other valuables.
• Consider electric gates or locked bollards – If you have a personal driveway these can reduce both home and motor insurance premiums.
• Install smoke alarms and fire alarms – These are essential safety measures regardless of insurance premiums.

Use An Insurance Broker.

At Elevate, we review the market of specialist insurers that aren’t available online or through mortgage lenders, to ensure homeowners have the right cover at the best price. Listed building issues such as restating buildings and building contents to the same condition and choosing to not simply replace will not be considered.

Choose To Have A Higher Excess.

This means accepting to pay the first few hundred pounds of a claim, the higher the excess you’re willing to pay, the bigger the reduction in the insurance premium. At Elevate we offer Free Excess Protection so you can cut your premium and still be mostly protected.

Don’t Cut Corners.

We understand that it may seem tempting to reduce sums insured or use insurers you’ve never heard of, but don’t! If you insure buildings or contents for less than their real value, insurers will be more likely to reduce any claims they pay out. Another reason why larger, reputable insurers pay out more claims is because they typically offer wider coverage and want to protect their brands.