Proper Security Measures Lowers Premium

Looking out for a homeowner's insurance cover! Remember, your amount of insurance cover depends on the state of your home, your circumstances, and the type of insurance you require. However, you can follow simple tips to reduce your insurance policy cost, but not compromising on the type of insurance cover.

Remember your insurance premium can be lowered only if your house is laced with security measures, be it against fire, theft, or any other natural calamity, helping the insurer pay for lesser damages in case of any unforeseen incident. And you can do this by following a series of simple steps:

- Take proper security measures to reduce the risk of theft or burglary in your area. These measures include

- Installing burglar alarms in your homes, which can fetch you 7.5 % of discounts in your insurance premium

- Changing locks as and when required

- Installing time-switch lights, which can be purchased from any hardware shop for as little as $20 and cover a large part of your house. Also, take care to illuminate and light up every entry and doorway of your house

- Joining a watch scheme in your neighborhood

- Fitting and maintaining smoke alarms

- Installing deadbolts locks in your property.

- Install good quality hinges and locks to protect the doors and windows of your home. It is a good practice to cover the same with window and door security screens too.

- Remember to periodically trim large bushes and trees as they can act as good hiding places for thieves and burglars.

The following points when kept in mind will also help make your house secure and avoid the cost of insurance premium:

- Avoid making insurance claims for smaller items. More the number of claims in any year, higher is the amount of premiums that need to be paid in the succeeding years. Also, use the no-claim discount offered by various insurance companies to earn a discount on the premium as high as 20%.

- Increase the excess amount on the standard insurance policy under which you are covered.

- Increase the standard policy excess - If you are willing to cover more of the cost of any claim then you will reduce your home insurance premium.

- Maintain your property properly and don't be negligent when doing it. The insurance company will not be ready to provide damages arising due to your negligence and non maintenance of property.

- Don't forget to carry out the required repair work on the insurance claims you claimed previously, if any.

- Also, in no circumstance provide false information to your insurance provider.

- Try and cover your property with a security fence.