Some people feel that the only way to reduce their home insurance premiums is to cut back on the cover that is asked for. This is not a clever way of going about cutting costs though. You need that cover, and should something happen to your home, you will not want to be left so far short with your cover that you can’t get your home rebuilt. So, how else do you cut your premiums?

Firstly, you should take the time out to get as many quotes as possible. It seems a simple idea, but you need to shop around to find a cheap premium. You also need to compare what each policy includes, so you really are comparing like with like.

Then, you should try and get into a head of a burglar and look through a burglar’s eyes at your home. Ask your insurer or your local crime prevention officer for a list of measures that you need to take to improve the security of your home. You should also join a neighbourhood watch scheme in your area or set one up if it doesn’t exist.

Once you get a list of measures to improve the security of your home, you should carry out as much as you can. Put the burglar alarm up there, improve your locks and add bolts, add key operated locks to windows and strengthen them.

It is almost certain that Insurers who see that a policyholder has taken preventative action will see them as a better risk and lower their quotes. You should actually check with an insurer about this, as some will be offering no claims bonuses like those more commonly associated with car insurance policies.

Some people bought their building and contents insurance via the bank or building society with which they arranged their mortgage. You don’t have to do this, unless you have agreed to a special mortgage deal compelling you to buy ‘their’ insurance. This may seem to you to be convenient and a small price to pay for your good mortgage deal, but do your maths. Mortgage lenders say that this means they like to provide the insurance so they know that their “investment” is protected. But they may not be offering a good deal in terms of price, so you should shop around. Bear in mind that the mortgage lender will want to approve of the insurer and check through your policy details. Not all insurers are reputable remember.

If after you have several quotations, you are still not happy with the amount of your premiums. Consider paying a higher excess. Should you claim, you would have to pay a larger amount towards it, but your premiums would be lower.