| There are many factors that
will affect the cost of your UK home insurance. Depending on how these factors
apply to your circumstances you will end up with a lower cost or more expensive
policy. Clearly, if you are resident in a low risk, secure area you are more likely
to score points that will result in a cheap home insurance policy. Below is a
list of issues that could be taken into account when your insurance quote is being
calculated:
The level of cover at which you choose to insure your property.
The area and size of your house including any additional structures to be
covered.
The building costs in your area.
The construction of your home, its material and any special features it might
have.
The crime rate in your area.
The likelihood of natural disasters.
The proximity of your home to emergency services such as a fire station.
The condition of your plumbing, heating and electrics.
The level of security in your house. Read more about security measures here.
The excess level on your policy- the higher the excess, the lower the premiums
will be.
Your age is often taken into account and over 50s could receive a discount.
Whether or not you are a member of your local neighbourhood watch scheme.
Optional extras or extended cover will increase your premiums.
A small house in the countryside fitted with a high quality security system
will incur lower insurance rates than a larger, unprotected house in an urban
area. Listed or specialist buildings such as thatched cottages are likely incur
higher insurance premiums as they fall into a higher risk category and restoration
costs will be more expensive. If you do own a thatched or other 'risky' premises
you should not expect to find a cheap policy easily - more important with these
category properties is that you get the most appropriate cover.
There are clearly certain measures you can take to increase the likelihood
of relatively cheap home insurance but most involve using your head and thinking
logically about how you can receive the best quote for your needs. If you have
taken measures to make you a lower risk candidate then make your insurance company
aware of it and ask them about discounts and how cheap an insurance premium they
can give you. Remember there is never any harm in asking- you only stand to benefit.
Read more about factors that could reduce your home insurance premiums here.
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