Security can bring down home insurance premium

Home insurance premiums can be reduced depending on a house’s location and the level of security it boasts.

John Portwood, personal lines insurance broker at Portwood and Co, recommended people install good locks or an alarm with central monitoring at their property .

However, homeowners may be wise to make sure their insurance company will be willing to quote, especially if they declined to do so previously.

In addition, people considering a relocation may want to review the crime statistics and flood-risk of an area before deciding to up sticks and head over there.

Mr Portwood pointed out individuals could choose to downsize to a dwelling that costs less to rebuild.

The industry figure stated: “Also make sure that they are not over-insured – obtain an accurate estimate for rebuilding the home and replacing the contents as new.”

His comments come after Sainsburys Home Insurance recently found 72 per cent of consumers are planning on shopping around in an effort to find a more competitive home protection option, despite 4.65 million individuals admitting they have been with the same provider for at least seven years.

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