When you receive your home insurance bill, it’s often a shock, right? You’re probably wondering how to reduce this expense without compromising your protection in case of an emergency. Good news: there are simple tricks to lower your home insurance while keeping essential coverage. Yes, it’s possible to save money without sacrificing your peace of mind!
Why it’s easier than you think
Before diving into the details, know that insurance policies are quite flexible. A phone call, a few adjustments, and you can easily lighten your bill. Here, I reveal 5 effective tips for saving without taking unnecessary risks.
1. Renegotiate your contract with your current insurer
Ah, renegotiation! It’s a bit like when you want to renegotiate your Internet package: it’s annoying, but it can really pay off. If you’ve been a loyal customer with your insurer for a few years, it’s high time to renegotiate your contract.
Here are some tips to help you negotiate well:
- Do your homework: Before calling, research the rates of competitors. If you can show that other offers are more attractive, you’ll have more weight in the balance.
- Use your loyalty: Insurers like to keep their clients. Highlight your seniority, and you’ll see that it can pay off.
If you stand firm and well-informed, you could see your bill decrease by several tens of euros per year!
2. Compare home insurance offers online
You probably know that comparison is the key to finding the best prices. Today, there are many online comparison tools that can give you an overview of the market offers in a few clicks.
The best comparators allow you to filter by:
- Level of coverage
- Price
- Specific exclusions
By playing with these filters, you will quickly find an offer tailored to your needs. But beware, before jumping on the first cheap contract, always check the included coverage. Sometimes, saving a few euros can cost you a lot in case of a claim.
Insurance Comparator | Level of Coverage | Average Annual Price |
---|---|---|
Assurland | Very good | 180€ |
LeLynx | Good | 160€ |
LesFurets | Excellent | 200€ |
3. Reduce unnecessary coverage
When you sign an insurance contract, you may be tempted to tick all the boxes, just to be “well covered.” The problem? These unnecessary coverages increase your premium without providing additional protection.
What are the truly essential coverages?
- Fire, water damage: Essential to protect your home.
- Theft, burglary: Not to be neglected if you live in a high-risk area.
- Civil liability: Always useful, it covers damages you may cause to others.
On the other hand, if you don’t have a garden or garage, you can probably do without coverage for external property, for example. Don’t hesitate to review unnecessary coverages with your insurer.
4. Increase your deductible
Another trick that few people know about but can save you a lot of money: increase your deductible. The deductible is the amount you must pay out of pocket in case of a claim before the insurance kicks in.
The principle is simple: the more you agree to pay a high deductible, the lower your insurer will lower your premiums. Of course, it should be a thoughtful choice. If you rarely have claims, it’s a good solution to lower your annual premium.
The benefits of a high deductible:
- Reduced premiums: Directly on your annual premium.
- Fewer small claims reported: Which can also avoid cancellation for too many claims.
The downsides:
- More money to spend in case of a claim: Make sure you have enough to cover the deductible if needed.
5. Bundle your insurances to benefit from discounts
Finally, if you have multiple insurance policies (auto, home, health…), why not bundle them with the same insurer? Most companies offer discounts if you take out multiple policies with them.
For example, if you take out auto and home insurance with the same insurer, you could get up to a 10% discount on your annual premium. This is significant, especially if you already have a good history with your insurer.
Contract Type | Potential Discount |
---|---|
Auto + Home | 10% |
Health + Home | 8% |
Additional tips to go even further
In addition to these five tips, here are some other tips that can help you save even more on your home insurance:
- Install a security system: Many insurers offer discounts if you have an alarm or surveillance cameras.
- Pay annually instead of monthly: This often allows you to reduce management fees.
With a little method, you can lower your home insurance while remaining well covered. So, don’t hesitate to apply these tips, and above all, compare, renegotiate, and adjust your coverage.
Don’t keep these tips to yourself!
If these tips have helped you, share them with your friends or family on social media. And if you want to go even further in your savings, why not take a look at our complete guide on home insurance? You’ll find more tips and comparisons to choose the offer that really suits you.
Pascal Petibon, born in 1980 in Lyon, is a renowned journalist and author, passionate about information and communication. After earning a degree in journalism from the University of Paris, he quickly joined various editorial teams, where he became known for his sharp analysis and clear writing style.