Property Lets and Flat Rental - Newcastle Upon Tyne, Leeds, Sheffield, Brighouse

Protecting your home

There are two different types of home insurance available on the market: buildings insurance, which protects the buildings that make up your property, and contents insurance which is for your valuable household objects.

Not all home insurance policies are made in the same way, nor do they cater for the same needs. Different policies will provide contrasting levels of protection, and will similarly be more affordable than others. Working out exactly what you need to insure and how much your property is worth will help lower the cost of your home insurance premiums.

The essential point to always keep in mind is that insurance policies are designed to protect against the risk of financial loss. Therefore it is imperative that you take good precautionary steps to help reduce the risk of loss or damage to your property and your possessions. If you do this then you will benefit from lower insurance premiums, as well as make your livelihood much safer.

Home insurance companies or your local neighbourhood watch schemes are ideal starting points: they will send you a list of steps that you can take to make your home more secure. For example, they'll suggest fitting locks to all your windows and mortise deadlocks to your doors. Joining the neighbourhood watch scheme is a good idea too as some insurers offer discounts on your premiums if you live in a neighbourhood watch area.

Similarly, having an approved burglar alarm fitted will reduce your premiums. Alarms can be expensive and may require servicing, but you should consider the peace of mind you'll be able to take from their capacity to make your home more secure.

Most policies will ask you to pay the first portion of any claim that is made. However if you are willing to pay a higher excess, and so take on more of the risk, then you will benefit from lower premiums.

Declaring any additional precautions that you have made to protect your property or your valuables could save you money. For example, if you have fitted CCTV, fire precautions, or a home safe for your jewellery and cash, then tell the insurance provider and they may offer discounts. Of course it is wisest to check with the insurance company first what you can do to benefit from the discounts they offer, as they will confirm which improvements will have the biggest cost-cutting impact.

Finally, when it comes to taking out cover, search the internet for the best deals. Comparison sites are a good place to start, as are the websites of reputable providers such as Legal & General, who currently offer up to 43% off when you take out combined home insurance from their site.