How to get the best deal on property insurance?

imagesStarting your search for property insurance will certainly need some dedication. You will need to go through the different comparison sites to find the best deal. However, remember that when we say the best deal, we mean the best deal for you and not necessarily at the lowest price.

Compare home insurance policies

Unfortunately, today we need to put a lot of money and effort into protecting our properties. Statistics show that in 2010 more than two million property insurance claims were lodged and it cost the insurance companies millions on a daily basis. When you start looking for a policy, the main thing to remember is to check the type and the level of coverage. You need to read every letter in the contract thus making sure that you are covered for what you want. Never presume what is included in a standard cover but read! You will find that only one in every five insurance companies will cover you for accidental damage and home emergency in their standard policy.

What are the best places to get your property insurance?

Comparison websites are always a good start as they can show you hundreds of different offers within a few seconds. Even if you just use two of the major comparison websites, you will be guaranteed to land some very good offers.

Use an insurance agent. These agents will be able to provide you with various offers and in some cases they can even get you higher discounts than those offered on the comparison websites. They are also the best to use in case you have many requirements that you need to be looked at and are not provided in a standard insurance cover. It is also good to have an insurance broker on your side in case you need to make a claim as they will certainly help you all the way.

What are the ways to reduce the price of my property insurance?

The first and most sure way of reducing the price of your home insurance is to increase the level of security. Make sure you have burglar and smoke alarm systems fitted, approved by the insurer locks on all windows and doors, security lighting etc.

No-claim discounts are also very important if you don’t want to break the bank when purchasing insurance. Go for a company that will offer you that as if you don’t claim for 5 years, you will avail of nice discounts.

Purchase insurance packages for your building and contents. That way you will pay less as you are using the same company for both. Make sure you have researched well and go for an agent that has special offers that you can avail of.

Unfortunately, there are things you will never be able to change and one of them is your postcode. The area where you live highly affects the price of the policy. In case you are resident in a high risk area, expect to pay a lot more for insurance than your friend who lives in a low risk area.

Proper research and careful reading of the contract before you pay are really important if you want to end up with the best property insurance for you. Waste no time and go to the comparison websites, read reviews and find the best deal that is out there.

Laura is a freelance writer with more than 4 years experience and she is interested in various financial topics. You can now read more about the property insurance from Alka (or as Laura says in Danish boligforsikring fra Alka) on this web page.