Monthly home insurance seen as more expensive

Despite the fact that monthly bills look less scary than annual payments, paying every month for your home insurance ends up being more expensive than paying once per year.

Consumers paying for monthly instalments may have to pay an additional charge on top of the cost of the original premium.

If you are looking to save money on your home insurance paying annually can reduce your overall home insurance bill. Another recommendation is to shop around in order to save money.

Compare home insurance

Search and compare home insurance premiums is top advice if you wish to pay less for your home insurance. However, there are other tips that could help you find cheaper home insurance premiums.

Overall, what will help to reduce your home insurance is to keep your house as safe as possible, here are some tips you can follow:

• Essential security systems: Install a smoke alarm and a wiring alarm system – the NACOSS standard alarm can cut premiums with some companies by 7.5%.
• Ensure that your home entrances are lit. Installing lights with an infrared detector next to the main doors will give the impression that you are at home.
• Check what is already covered by your building insurance policy. Subsidence, one of the most common problems is generally covered, so be aware of that so you don't pay twice for the same cover.
• Think twice about what you cover. Some extras can increase the price by up to 25% so spend some time asking yourself what you really need.
• Claim as little as possible. A no claims discount can save you money on your premiums, so only claim in case you really need to.