As important as it is, home insurance should not weigh too heavily on a family budget. Indeed, if a disaster can cause enormous material damage, for a significant financial cost, it remains of the order of the unforeseen and the exceptional. Home insurance is therefore an area in which it is totally possible to save money while maintaining quality protection. Small review in detail of the savings margins in 10 points.
Online comparators have the advantage of offering an overview of the main contract proposals from insurers based on the personal needs of the future insured. Simple to use, they offer a quick view of the sometimes glaring differences in prices between the different service providers.
It is not just “historical” insurers who offer multi-risk home insurance. Banks, certain mutuals and new online insurance companies sometimes offer more financially attractive contracts, for equivalent guarantees. Indeed, their attractive price allows them to capture new market shares against traditional insurance, which remains on its achievements.
Since January 1, 2015, the Consumer Law allows everyone to change home insurance once they have contributed for a full year. This law is an invitation to the regular reassessment of its contract, especially since the new insurer will take care of all the formalities. Playing the competition regularly will push its insurer and its competitors to offer ever more affordable rates.
Depending on the situation, it may be advisable to combine your car and home contracts. The insurer will thus be led to make a commercial gesture to his client, who will come out a winner in the first year. After this year, it is on the contrary advisable to separate its various contracts. Indeed, the insurer, which offered an attractive rate the first year to win a new customer, often increases the premium once the customer has become loyal.
Travel, high-tech, leisure options…insurers are always offering more guarantees to cover all everyday acts. But, in the end, few people really need all these guarantees, the cost of which is quite expensive. Refocusing on basic guarantees (fire, water damage, natural disasters and civil liability) is usually enough to protect against the most significant claims.
Proper insurance is essential. To be too assured is useless. Saving money in your home insurance consists of not paying for guarantees that are already provided for, either by law or not by other insurance companies. We will think for example of travel, means of payment, or even school insurance.
For security, we prefer to spend more to be sure of being properly insured in the event of a claim. In fact, the declared value of the goods is in the majority of cases higher than their real value, not to mention the obsolescence which is taken into account in most contracts. Properly evaluating what you own can significantly lower the insurance premium.
As a matter of principle, professionals suggest that clients pay their insurance premium monthly, in order to smooth out costs. However, paying the latter in a single payment saves management costs. These are added by the insurer to set up direct debit and guarantee itself against unpaid bills.
In insurance, the amount of the deductible exerts the same pressure on the premium as a weight on a scale. Indeed, the higher the deductible, ie the remainder payable by the insured when a claim is declared, the lower the cost of the insurance will be. It is therefore possible to increase it in order to save insurance. However, it will be necessary to ensure its ability to pay this deductible in the event of a claim, so that this does not have the effect of a boomerang.
Finally, the law is clear on the subject of home insurance. Unlike the tenant, the owner is not obliged to be insured, except for the “civil liability” part for a co-owner. When you rent the accommodation you own, you can therefore avoid spending on protections already provided for by the tenant’s insurance.
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