Home Insurance – what discounts can I expect?
We’ve put together another useful list of ways to reduce the cost of your House Insurance.
• Sums Insured – always check that your buildings and contents sums insured are adequate for the risk on cover. Often customers over insure and therefore pay a higher premium than necessary.
• Security – advise your broker of any security you have on your home such as smoke alarms, burglar alarms standard or monitored and know if your installer is PSA approved as this can lead to a greater discount. Always be sure to check what warranties may be added to your policy in exchange for this discount and be sure you are happy with the restrictions that apply before accepting the discount.
• Heating System – discounts are available for certain types of heating systems such as gas or oil.
• Year Built – older houses can warrant higher premiums but remember to specify the year the house was originally built and whether it has in recent years been re-roofed, re-wired and re-plumbed.
• First Time Buyers – can obtain a discount so let your broker/insurer know if it is your first ever property purchase.
• Age – most Insurers will give a discount if you are over 50 .
• Claims Free – always disclose any claims you have had regardless of blame or timeframe and the longer you are claims free the better it is for your price .
• Contents as % of Buildings – this calculation gives you a more preferential rate with some insurers just be sure that the sums insured are adequate for you.
• Other Insurances / Supporting Business – let your broker/insurers know what other insurances you have either with your broker and/or with other insurers as a discount for multiple policies may often apply
• Voluntary Excess – all policies have a standard excess but some insurers are willing to give a discounted price for a higher excess – just be comfortable with the excess level before you go ahead with cover.
Please note that all discounts applied are subject to a minimum premium by Insurers.
Call our expert house team today on 0402 32204 and we will gladly help guide you through the best suited policy for your needs.
Travers & Co. Insurances Limited t/a Travers Financial Services, Travers Insurances is regulated by the Central Bank of Ireland.