Reduce Home Insurance Premiums For the New Year

If you've made it your New Year's resolution to get your finances in order then don't forget about your home insurance. It's easy to save money - and you don't even have to switch providers. Here are six of the best tips. - Evaluate your cover: Take a look at your policy at least once a year and consider which options you really need. For example, do you need accidental damage cover? Unless you have wild children or pets in your home or you're planning to undertake some home improvements then you may be better off without it as the option can increase premiums by 25 per cent. - Quit smoking: If you quit smoking as part of your New Year's resolutions (and stick to it) then make sure your insurer is informed. Smokers will pay more for insurance due to the fire risk. - Install a home security system: Get in touch with your home insurance provider and ask it to recommend a security system that could earn you a discount on your policy. The NACOSS standard alarm is particularly popular and could cut your premiums by 7.5 per cent. - Change your locks: Quality window and door locks may seem like a fairly basic level of home security but they go a long way with an insurer. If you install five-mortise locks on external doors and double bolts on windows you could cut your premiums - just make sure you lock up before you leave the house. - Join a Neighbourhood Watch scheme: If you want to be more sociable in the New Year then give your neighbours a call and organise a Neighbourhood Watch scheme - members can typically reduce premiums by five per cent. - Increase your voluntary excess: Think about what you could afford to pay if a claim were necessary. Setting the excess higher, but still at a comfortable level, can slash your premiums.