No one likes the idea of suffering a fire or being burgled, but it’s a risk everyone has to face. Although it can’t replace treasured items with sentimental meaning, home insurance can help provide cash to help put you back in the same position financially after an unfortunate incident. There are a broad range of policies, but there’s no need to pay over the odds even though this type of insurance is vital.

Shopping around can be crucial

One of the best ways to keep your costs to a minimum is to make sure you shop around. This is easy to do, especially with a website like ours which quickly compares different policies from the market and gives you an overview of what’s on offer. Prices can change regularly and the market is competitive, meaning there may be a better deal out there for you whatever your circumstances.

For starters, you might want to think about exactly the level of cover you actually need. Typically, someone living in a rented property doesn’t need what’s known as the buildings insurance element of home insurance. This is a type of cover which protects the actual structure itself. If you rent, the buildings insurance policy is normally the responsibility of the property owner so there’s no point in paying for something you don’t need. In such circumstances you may only want to consider contents insurance.

Lower risk may mean lower premiums

Any insurance policy involves an insurer calculating levels of risk. A good way of getting a cheaper quote can be to improve the fire and security measures of your home. For example, simply fitting a few smoke detectors and upgrading window and door locks may help bring the cost of a premium down.

Some insurance companies will ask if the person living in the property smokes. This can increase fire risk and therefore stopping smoking may actually lead to a cheaper home insurance premium - although this depends on the provider.

Security measures can be a help

If you don’t have a burglar alarm, you may want to consider fitting one as some providers could lower the premium for someone who has taken this additional security measure. Security lights which are activated by motion can also make your home less attractive to thieves and therefore may also lower costs. Remember that if you upgrade your security, you’re not only improving your premium, but in practical terms you may well lower the likelihood of being burgled and making a claim. The less claims you make on a policy, the cheaper the renewal price is likely to be.

Security is not the only issue when working to reduce the chances of having to make a claim. Cold weather can cause a lot of damage to a property, so it could pay in the long run to make sure things like exposed pipes are protected with insulation.

While some of these measures might seem quite simple, combining them together and comparing different deals could potentially save money on home insurance - meaning peace of mind need not cost the earth.