Official British Summertime doesn’t end until 31 October but, for most of us, the recent nip in the air is the real indicator that summer is now over.
If you have been making home improvements during the sunnier months, which are now nearing completion, at least the onset of autumn can present a perfect trigger to ensuring all your home-related insurances are both adequate and the best value for money. So where do you start?
Check your buildings insurance is fit for purpose
According to figures published over the August Bank Holiday by Sainsbury’s Finance, 20 per cent of its personal loans taken during the first half of 2010 were used solely to fund home improvements. “This is because many people are choosing to improve rather than move,” said its head of loans, Steven Baillie.
But is your house cover keeping pace? Buildings insurance for example covers the structure of your property in the event it is destroyed, for example by fire, flood or subsidence, and your annual premium is determined by how much it would cost to rebuild from scratch.
That’s why if you have spent the summer making major improvements to your home, such as a loft conversion or a new conservatory, your current level of buildings cover could be inadequate. You can get an idea of the new level of cover you need by using the Association of British Insurers’ house rebuilding costs calculator.
Prices vary between insurers for the same buildings cover so be sure to do a buildings insurance comparison.
Review your home contents cover
Whether you have made home improvements or not, it may be a long time since you added up how much it would cost to replace the contents of your home should they be lost, stolen or damaged. Take the opportunity to review this figure as autumn approaches, and if it exceeds your current level of cover, take action by calling your insurer and upping cover accordingly.
Don’t take your insurers’ quote as verbatim however – compare it to what else is on offer.
It’s also easy to overlook some valuable items like curtains, carpets, clothes, stuff in the attic and even garden furniture and tools.
Cut home insurance premiums
Reviewing your current levels of cover is important but so is getting the best price for your insurances. There are plenty of ways to save on premiums, such as taking buildings and contents policies from the same insurer and buying online.
The easiest and most effective means of saving money however is to shop around for the best home insurance deal. Even if you are increasing your level of cover in the process, you could still find that you save money. Click here to get the cheapest home insurance quote.
Drive down the cost of your car insurance
According Confused.com research, the cost of car insurance has rocketed by 32 per cent over the last six months – but by voting with your feet, your own premium doesn’t have to follow suit. In fact, between January and June this year, 10 per cent of customers at Confused.com saved more than £188 annually by switching providers.
Make sure you get value for money on your car insurance this autumn by shopping around for the cheapest quote.
Sign up with the cheapest utility supplier
Don’t stop there! If we have a repeat of last years’ freezing winter, your energy bills could rocket. So this year get ahead and switch to the cheapest supplier well in advance of the weather turning.
