insurance is one of them Fixed expenses that all households have. They are a safety net and, in the best of circumstances, not necessary.However, considering the real possibility of unforeseen events, we pay the corresponding premium Don’t have to live through nightmares in situations like fire or flood.
However, with the economic situation becoming increasingly difficult to maintain a balance of payments, Every penny spent counts, so it’s important to look carefully at what we pay and, if possible, reduce it. To this end, the Organization of Consumers and Users (OCU) proposes Ten tips for lowering your home insurance premiums. They are the key from when we sign a product contract to updating a product.
1. Find the best quality/price and pay immediately
The insurance market is very large and diverse, so it is very important Don’t stick to the first offer we find.To optimize this cost, it is necessary Spend some time analyzing the quality/price ratio of each optionbecause there can be a big difference, and paying more doesn’t mean having better coverage.
On the other hand, most companies offer multiple payment methods.you can choose Pay for the whole year in one payment or split into monthly installmentsusually with a Additional charges have been added.
In general, it is better to choose the first possibility if possible, because Savings easily exceed €100 per year. Therefore, although the amount may appear high at first glance, Monthly payments may add up to the annual total.
2. Research new offers before renewing
Although starting the process over can be tedious, Not tying yourself to one company forever is a way to save money. We must not close any doors, months in advance, we can start Look at other entities’ offerings (or even different options from the same company) to assess whether a change is worthwhile.
If you find attractive discounts, even in your own company, you can try to reduce the cost of the products you have contracted for. Instead, if you decide to change to another entity, Remember to carefully research the terms and conditions of your current insurance policy: they can bill you for the year Automatic extension if you do not notify in advance as agreed.
3. Company diversification
There are not a few offers Insurance packages include home, car, health, death… Having all the coverages may seem like an advantage, but the truth is, you will most likely find more lucrative ones if you search and compare Take advantage of different offers from different companies for everyone.
4. Check the ingredients
Not all homes are the same, so not all homeowners insurance should be the same. Many of the coverages offered are optional, Therefore, reviewing the content of each insurance is important for Remove what you don’t need and cut your premiums. For example, if you don’t store jewelry, you don’t need to cover it up.
5. Communication safety improvements
In many cases, the policy is Subject to the company’s determination of the risk it is taking by insuring your home. So, right from the start, they know your home’s characteristics well enough to set a premium.
this means, The more secure your home, the less you will have to pay, so you can pay less if you invest in improving the security of your home.So it’s important to communicate to the company that you’ve taken some action Changes that affect what is considered when setting payouts, such as placing armored doors or sirens.
6. Adjust the capital to cover the continent
Knowing what your home is worth is critical to securing fair capital. In the worst disasters, if the entire house had to be rebuilt, Insurance provides compensation up to the cost of repairing the damage. In no case are they going to compensate you more for paying more, so it’s important to tweak the numbers and make sure the building is worth it.
While overpaying is a problem, so is shorting. If you don’t pay enough, they can apply the proportional rule and reduce the compensation. Therefore, consulting a professional may be the best option.
One of the mistakes that can be made in these situations is to be guided by the assessed value inside this house. However, Land value is indestructibleso this is not the correct amount.
7. Community insurance
Another key that allows us to get attractive discounts is that if living in an owner community, Find out which company covers community insurance. Some will offer their neighbors a combination of all their insurance, and if something goes wrong, Having the same insurance company for both parties speeds up and simplifies the process.
8. Consider whether to take the risk to hire capital first
when community insurance is good too It will protect the private parts of the building in case of fire, explosion, flood… This means that if you also include these conditions in your personal insurance, You will pay double.
To avoid this overlap, one of the options is Lower capital ‘first risk’ insurance for the African continent using personal insurance. This way you can cover the most “mild” claims, i.e. the most common ones.
The risk of this strategy is that In very serious cases, you will rely on community insurance. That means if it’s not included, you’ll have to pay for it out of pocket. Apart from, In some companies, the reduction this technology brings is not worth the risk.
9. Calculate the value of your furniture
Having the furniture (i.e. contents) of your home covered by the insurance triggers the premium.Furthermore, in the event of loss affecting the furniture, it is likely that It’s very complicated to show what you have and what it’s for, so compensation is minimal.
Often, however, items must be insured to obtain home civil liability coverage.Therefore, to reduce the final price, you can choose Hire minimum capital.
10. Civil Liability, Most Important
Housing insurance is not only a matter of protecting the insured, but also a very important part Covers damages that may be caused to others by accidents in our premises or the actions of those who live in them. Therefore, civil liability is an important guarantee.
Water leaks that cause leaks to downstairs neighbors, fires that affect neighbors, bicycle accidents, or damage that tenants may cause to furniture are all covered under this civil liability.This is not an expensive service as it is very rare, but If you come across one of these, they can wreak havoc on your pocket. To this end, the OCU recommends Increase capital as much as possible.
despite this, The amount can be reduced if you keep your circumstances up to date. So if your child becomes independent, you can remove him from the insurance and lower the premium.You can also view the following offers specific liability insurance and assess whether there is anything interesting in it.