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PAYING FOR SOMETHING YOU HOPE YOU WILL NEVER NEED.

Home insurance for both your house and contents is a necessity. Do not think for one moment you can save money by skipping this vital item. Many people around the country encountered this problem last year when their houses were flooded and they had no insurance.

Always ensure you describe your building correctly. No advising that you have a felt roof can prove costly. Window locks and a burglar alarm, whilst an extra expense to install can save on your annual insurance bill as well as giving you extra protection.

Ensure you advise your company that you have them installed. Keep them in full working order as a broken lock could prove costly and invalidate your policy.

Savings can often be made by taking out both buildings and contents insurance with the same company at the same time. This will also make it easier should you require to make a claim.

Check out comparison sites on the Internet to find a good rate, but do not be afraid to speak to these companies on the phone. Often they can give a bigger discount when you provide more detailed information. Take care that you compare what is being offered.
Not all policies cover everything to the same extent, if at all. Ensure your company covers the items you need.

Some companies prefer you to pay a one-off up front payment and will give a discount for this and give very little of this back if you decide to go with another company later in the year. Some though will NOT charge you any more for paying monthly. In this case, this is the better option as the remainder of the annual fee can be invested in your savings account earning you interest, whilst a standing order or direct debit with your bank alleviates the worry of ever forgetting a payment.

Do not try to dupe them with a phony claim. These people have seen it all. A few years ago a sofa was passed from house to house around a nearby town. It was the subject of various insurance claims. Apparently it had been burned, just like the insurance company's fingers.

Learn more about this author, Meg Gurney.
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