Insurance and Improvements
Getting the best value out of any financial product is
more important in this current 'age of austerity' than ever
before. Whether that's ensuring that you squeeze the last
drop of interest from a bank account, or shave the most
pennies possible from your home insurance policy, it's important
to save cash.
The British are a nation that love home improvement, probably
more so than any other country, and with tight purse strings
across the nation, DIY stores are doing a booming trade.
If you're living in a house where you think you could stay
for a while, it's worth focussing your DIY efforts on making
savings wherever you possibly can.
The first thing to consider, quite simply, is how home
insurance costs are worked out. Very simply they're based
on the value of what you're ensuring (so either the building
itself or the value of its contents) verses the likelihood
of you making a claim, as determined primarily by environmental
factors and safety factors.
Obviously, it's pretty difficult to control the weather
where you live, though you can proof your house accordingly.
Good insulation can save money, as it reduces the likelihood
of frozen pipes, and making sure your roof is in good condition
and clear of moss can also save a few pennies.
However, the best way of saving money is to make your house
singularly unappealing to thieves. A good burglar alarm
system can pay for itself in a few years, strong window
and door locks to industry specification can do the same,
and there are even things like the strength of the door,
and whether you have a security light which can also make
The key thing to consider is that there is indeed an industry
specification for just about every type of safety equipment.
If you're going to invest in something with the aim of saving
money on your insurance and making your home more secure,
it's good to start by buying something that is actually
going to be accepted by the insurance company. Anyone who
offers insurance, from specialist insurers to high street
banks like Santander* will be able to tell you what matches
the industry specification and what doesn't
The final thing to consider with home improvements internally
is that they will affect the value of your home and so may
also affect the cost of your insurance. If you get something
new fitted, make sure that it's noted on the insurance policy
so that if something bad does happen, you'll be covered
financially. The closer the policy is tailored to your exact
specifications, the better value for money it will be.