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With the 2018 Budget being announced last week, we took a look at how homeowners would be impacted by the changes. With many insurance policies up for renewal around this time each year, now can be the perfect time to see if they can save themselves from increasing premiums. With more consumers deciding each year to shop around for the best deal, it is important to be as informed as possible when you’re taking out or renewing that Home Insurance policy. For those savvy consumers among us, here are our top tips for saving money on your home insurance.


An image of the gable end of a home. Correctly valuing your home is key to saving money on home insurance



First things first, homeowners need to take every personal measure they can to keep their homes safe. Installing smoke and burglar alarms throughout your home will reduce the risk associated with your policy. A study by the Central Statistics Office found that the percentage of homes that have a burglar alarm is only 44.1%. By installing and regularly maintaining these alarms, your quote with many companies will be reduced.


Value Estimation: 

Consumers should clearly understand the values that apply to both their home and its contents. Many people make the mistake of valuing their home at its initial purchase price or its current market price. Instead, you should seek to insure your home for the cost of rebuilding it. This is known as the reinstatement cost and will usually result in a lower premium than if you opt to insure for the market value.

Be sure that you don’t underestimate these values as you may not be fully covered in the event of an accident. The same can be said for contents cover. Overestimating or underestimating the cost to replace said items in their current condition, will result in an inflated quote. Thankfully, we provide an easy contents cover calculating sheet on our website to help with this.


An image of a calculator and sheet. Calculating your contents correctly is vital to saving money on home insurance


Multiple Insurance Products: 

Many insurance brands will offer multiple insurance products from Motor, Home, Travel etc. Inquire about the possibility of grouping multiple policies with the same company. This can result in savings across the policies that can really add up. Here at Blue Insurance, customers will receive €25 off (not to be used in conjunction with other offers/promotions) when they buy a Home and Motor Insurance policy together.


Promotions And Buying Online: 

Many Insurance companies will run regular special offers or promotions. These may be seasonal or may cater to loyal/first time customers. For example, with the Home Insurance Product, we offer First Time Buyers a massive 20% discount on their policies. We are also offering €25 off (not to be used in conjunction with other offers/promotions) when you book your policy with us online. It’s these little extras that can help you save a significant amount on your cover.


2 Year Cover: 

You can save yourself both stress and money by purchasing a two year policy, which can save you 15% in comparison to two 1 year policies. This means that not only do you not need to worry about rising premiums next year, you can make savings today by opting for 2 year cover.


An image of a yearly calendar on a portable tablet device. Two year cover is a clever way to save money on your home insurance


Whatever you pay for your home insurance, make sure you get the cover that accurately matches your needs. You can learn more about the great home insurance policy we offer here. For more general information on home Insurance policies, check out our Home Insurance FAQ’s. We can also offer you savings on a Motor Insurance policy too. For more news, offers and content follow us on Facebook, Twitter and Instagram

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