Tips for the Savvy Saver

Tips for the Savvy Saver
Minimising household expenses is one way to put dollars back in your pocket. Buying grocery items in bulk, waiting for end of season sales and taking advantage of interest free deals and some of the ways we are able to save money. If you’re a savvy saver on the look out for some top tips, here are a few ways you could save on your home insurance:

•Improve security - If you make your home less of a risk in the eyes of your insurer, they usually reward you with a cheaper premium. Added security measures such as a burglar alarm and deadlocks on windows and doors could help keep your premiums down.

•Correct cover - One of the main reasons why people have inflated insurance premiums is because they buy an unnecessarily high level of cover. Make sure you give an accurate rebuild cost for your property – this is the amount of money it would take to re-build your home from scratch.

•Boost excess - The excess is the amount of money you’d have to pay in the event of a claim. For example, this might be the first $500 of the claim amount. Many insurance firms offer a choice of excess levels. The higher the excess, the lower the premium. If you feel comfortable doing so, you could agree to pay more excess should you need to make a claim.

•Shop around – The number one tip! Don’t just stick with the same insurer out of apathy or familiarity – make sure you check out the market to ensure you’re getting the best possible deal for your needs. Insurance policies can vary by hundreds of dollars. Simply make sure you are getting the level of cover you require and always read the fine print!