Moving into your new home is exciting and the last thing anyone wants to think about is the prospect of something bad happening to their home and possessions, and while the topic may seem uncomfortable its one all home owners need to consider.
Getting your home and its contents insured doesn’t have to be a costly exercise, there are a few things that you can do to help keep the cost of your insurance premiums down. In this three-part blog we will share 9 cost cutting insurance tips for home owners.
Consider costly recreation
Recreational items like swimming pools and trampolines can drive up your insurance premiums because they are considered high risk. Insurance companies consider these items as some of their biggest liabilities this is because someone could easily fall into a swimming pool and injure themselves leaving you liable to cover the costs. You can help reduce these costs by fencing off these high risk areas.
Plan ahead for construction
If you’re planning renovations or building another structure next to your home, it’s important for you to consider the materials you because they can impact your insurance premiums. Thatch, and wooden structures are considered high risk whereas steel and cement are structures will cost less because they are less likely to succumb to threats like fire and bad weather conditions.
Install smoke alarms
Most modern homes come with smoke alarms already installed but if your new home doesn’t, you need to have them installed. Not only can they save your life in the event of a fire, installing additional smoke alarms can reduce your insurance premiums by 10% or more according to Investopedia.
Lookout for part 3 of our post where we look at three more cost cutting insurance tips for homeowners.
Living in a secure apartment complex or lifestyle estate can greatly help to reduce your insurance premiums. Contact Mobus Property today for the range secure properties in our portfolio.
Contact Mobus Property for more information.
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