So many changes occur in spring, including the contents of your home. So it’s not all about wildlife and flowers. Perhaps you have moved home recently or made some small or large renovations. What’s more, you don’t want to pay too much for your policy. The chances are you have acquired more belongings over the course of the year, and you want the right cover.
You don’t want to overpay or underinsure
It’s an easy mistake to make; you have a busy life and forget to inform your insurance company of any changes in your home or its contents. Perhaps you have extended the kitchen and removed a wall. Chances are, this has increased the value of your home, so it’s important to inform your insurance company, because the rebuilding costs of an improved home will have increased.
Personal and precious belongings
As each month passes, you gather more stuff. From a new TV, precious jewellery, or maybe gifts at Christmas. Perhaps you treated yourself to a new tablet, laptop, or a collectable souvenir during a holiday. It’s important to tally the value of these things. You may find that the combined value of these items is much higher than you thought!
While it’s not a guarantee of a lower premium, improving your home’s security could reduce the cost of your premium. From the new security cameras, you got fitted to, an updated alarm.
Don’t forget to renew your buildings insurance policy. It’s easy to confuse it with home insurance. Perhaps you have added an extension, in which case you need to contact your buildings and home contents insurance provider.
Changes in lifestyle
Interestingly, changes in your lifestyle can affect your home insurance premium. For example, if you retire you may reduce the cost of your premium. Your profession also plays a part in the price you pay. Certain lifestyle choices can make a difference; for example, if you no longer smoke, this can also help reduce your home insurance costs.
There is always a range of new products or add-ons available. From legal expense, home emergency, locks and keys to perhaps lesser-known travel and baggage insurance as part of your home insurance policy.
Talk to your insurance provider
The important thing to remember above all else is to communicate with your insurance broker. Each home is unique, and everyone’s requirements and budgets differ. Sometimes getting the right guidance makes a world of difference when it comes to tailoring your policy. It’s about meeting your needs while saving you premium costs and the potentially daunting and devastating costs of damage to your most valuable and precious assets.
Dig out your paperwork and check what you are insured for. Don’t rush this process, and make sure you have adequate cover. The likelihood is that you have a lot more possessions than you realise. Explore all the options. Add-ons may add a little more to your premium, but they could save you thousands in the event of a claim.
Renewing your home insurance? Want a better price with more cover for all your home insurance needs?
Get in touch today.