For a product designed to give peace of mind, home insurance brings its headaches.
Rising premiums can leave homeowners frustrated, particularly when the risk of needing to make a claim appears to be the same.
Thankfully, there are ways to beat these price increases. We know because every month, we survey thousands of Which? members to find out how they save money on everyday bills, tasks and purchases. You can see the full range of our members’ money-saving tips by subscribing to Which? Money magazine.
We recently asked 4,542 members how they cut the cost of their home insurance. Here’s a selection of their best ideas.
Find out more: How to get cheap home insurance – more ideas from our money experts
Haggle with your home insurance company
A number of Which? members told us they saved money by haggling with their home insurance company before their policy renewal. A good way to do this is to see what you could pay elsewhere and then to take the quote to your current insurer.
Even if you can’t find the cover for less elsewhere, you should still fight your corner against a home insurance premium that starts to creep upwards year on year.
Our survey’s respondents saved an average of £73 by doing this.
Find out more: Haggling on home insurance – use our field-tested script to help you
Make the most of cashback websites
Many Which? members told us that they found a better home insurance deal by using price comparison websites, but you can save even more money by buying the cheapest policy through a cashback website.
Once you’ve found a great deal online, check to see if the insurer has a cashback deal on websites like Quidco or Topcashback, and apply for a policy through them.
Members who told us they did this saved an average of £63.
Find out more: How to make extra money on cashback sites – advice from our money team
Take advantage of multi-policy discounts
Buying multiple policies with one insurer can be convenient and save you money.
A number of respondents combined car insurance and home insurance and made savings by doing so.
Pulling all your policies together can also give you more bargaining power when it comes to haggling over your renewal.
Our survey’s respondents secured an average discount of £44 by taking out two or more policies with the same provider.
Find out more: Home insurance companies – dozens of providers reviewed
Amend your cover to suit your needs
While everyone’s idea of what is essential will differ, policy elements that seemed good to have at first could be costing you.
Consider removing add-ons such as cover for accidental damage, home emergency cover or special cover for your garden or bicycles.
Increasing the excess on your policy can also help to cut your premiums.
Those who told us they tinkered with their policies managed to save £54 by doing so.
Find out more: Contents valuation tips – make sure you’re not over-insured