Free Pimm's & lemonade
3x Clematis plants £7.50
Jones Bootmaker 30% off
To speedily slash home insurance costs, combine comparison sites to boost your chance of finding the cheapest price - then grab hidden cashback.
It's so powerful, MoneySavers have bagged cover, plus up to £67 PROFIT - even in 2012, we heard of a £2 profit.
In this guide
Step 1: Ensure your cover's correct
Insurance premiums, the name for payments made to insurance companies, depend on the insurer, the level of cover and how risky you're perceived to be. So start by defining your cover and ensuring you're as low a risk as possible.
Full information on this, including the difference between buildings and contents cover and how to lower the risk category you're in, are in the additional Cheap Home Insurance Tricks guide.
Plus, if you've not got 'normal' circumstances - say, you've made a claim in the past few years, are in an area prone to flooding or subsidence, have taken in lodgers or are in a flatshare - make sure you tell the insurer. If you don't and then try to claim, even for an unrelated issue, your whole policy may be invalid. With insurance, the golden rule is: tell them the whole truth, and nothing but the truth.
Beware monthly payment plans
Beware 'pay monthly' options - usually the insurer just loans you the annual cost and then charges interest on top at hideous rates. So either pay for it in full, or if you can't afford it, use a credit card with a lower APR (or better, a 0% credit card for spending, ensuring your repayments are big enough to clear it within a year).
Some insurers currently have promotions where you can pay monthly at no extra charge. See the Special Deals section to find out which ones.
Don't over-cover on buildings insurance
For buildings, don't over-insure - a common mistake is to cover the
house's market value (the amount it might sell for), meaning many people end up over-insured and
paying more than they need to.
You should instead be covering (the "sum insured") the rebuild value, which is simply the cost of rebuilding the property if it were knocked down.
So the real key isn't location, but cost of materials, labour and architects. However it's important any building policy covers the cost of somewhere for you to stay while your home's rebuilt.
To find a rebuild value, commissioning a survey is most reliable, but is expensive unless you're getting one anyway (eg, if you're buying a new
home). A less accurate, but quicker option is the Association of British Insurers' calculator.
Some comparison sites use the ABI's data, such as MoneySupermarket*. Or you can also ask your insurer to
give you a rough value based on standard assumptions, but this will be the least accurate.
Don't under-cover on contents
For contents, don't under-insure - this could lead to insurers not paying out when you need it. Add up everything, including smaller items like clothes, on a 'new-for-old' basis.
If you insure £20,000 of possessions when you actually have £40,000-worth and have to make a claim, you'll at best only have 50% of contents protected or, worse still, the policy cancelled for being underinsured. If the latter, you must disclose it in the future, hiking the cost of insurance.
Know your locks to lower your premium
Don't know your five-lever mortice deadlock from your rim automatic deadlatch? Well you should do, as getting the right lock on your doors could slash money from your home insurance premium.
Insurers often ask what type of lock you have so you risk invalidating your cover if you put down the wrong option. The descriptions and pictures below should help you tell what you have.
These are The main locks to watch out for:
The following are roughly in order (apart from options 3 and 4 which are much of a muchness) of what is considered most secure and which will therefore lower your costs, but there is no hard and fast rule.
-
Five-lever mortice deadlock conforming to BS (British Standard) 3621.
This is the gold standard of locks the police recommend and insurers often like to see on your policy. So if you're thinking of changing your locks, this is the one to go for. The British Standard kitemark is stamped on the metal plate so it's easy to see, it's heartshaped with an 's' in the middle. 
-
Five-lever mortice deadlock.
This is the same as above but without a British Standard kitemark. -
Key-operated multi-point locking system.
A multi-point locking system has a minimum of three locking points that all lock simultaneously by the turn of a key. Multi-point locks are most common on uPVC doors or patio doors. -
Rim automatic deadlatch with key-locking handle. These offer security at night, allowing you to lock your door more securely from the inside.
-
Any other lock? If you don't have any of the above locks then you probably have what's classed as "other lock type" by insurers. To cut costs and improve security, they recommend you consider getting one of the recognised locks above (unless you've got a defined specialist lock, in which case you might need a specialist insurer). The one pictured right, for example, although of decent quality, does not meet insurance standards when fitted alone on a door and has no external deadlocking feature allowing for the latch to be bypassed and opened easily with force.
Which lock is best?
If you have one of the top four locks above (ie, not an 'other lock') you should have decent security and lower premiums.
Sometimes, insurers will distinguish between the quartet. Where they do, the five-lever mortice deadlock conforming to BS (British Standard) 3621 is normally the best, followed by the same lock but without the kitemark.
As approaches vary among insurers, however, it’s a good idea to compare quotes from as many providers as possible.
What lock you can have fitted may also depend on how sturdy your door frame is, as a quality lock is only as strong as the doors and frames to which they are attached, so you'll need to take that into consideration.
Can changing your locks cut costs?
The better your lock, the more secure your home is, and the less you pay for your insurance.
We ran some quotes on a price comparison website and the difference in premium between having a five-lever mortice deadlock (preferred by insurers) and a rim automatic deadlatch with key-locking handle with the same insurer, was £48 for the year.
With a five-lever mortice deadlock coming in at about £30 to buy, it's a no brainer that it’s cheaper to change the locks and get a lower premium with the added comfort of extra security for your home for years to come.
Insurers recommend that the lock is professionally fitted, the cost of which may be similar or higher that the lock itself. But don't let that put you off, as even if it means the lock doesn't pay for itself in year one, it's an investment so it will do in the future.
You can’t just say you have the lock though to get a cheaper premium. If you say you have certain types of locks and you're burgled, and it turns out these locks don't work, your insurer may not pay out.
Ensure your contents are covered when left outside
If you have a garden, always check policies to make sure possessions left in it are covered. Plants, trampolines, BBQs, bicycles, lawnmowers and more are usually covered as standard when kept within the "boundary of the garden". If you leave items outside this, upgrading to 'all risks' cover for £20-£30 should ensure you're protected.
This extension should also cover your belongings when on holiday to accompany your travel insurance - but do check the limits are enough.
Make sure the 'contents in the open' cover limit is high enough to pay for these items. It's often £1,000 max, but varies between insurers.
Increase your excess
Home insurance policies come with a compulsory excess (the amount you have to pay towards any claim).
For example, if you have an excess of £100, but make a claim for stolen goods worth £400, your insurer will give you £300.
But you can also choose to pay a voluntary excess on top, which will bring the cost of your premium down. The more you pay the lower your premium will be.
You need to be realistic though. Make sure the total excess is affordable in case you do have to make a claim.
Unemployed? You're very likely to pay more
If you're unemployed you face the double whammy of no work and what can be a five-fold jump in insurance costs by declaring you are unemployed. The same hikes don't apply to homemakers (housewives/househusbands). If that's you, say so. Don't state you're unemployed as this could wrongly hike your premium high.
However only enter "homemaker" if you're genuinely not seeking work (or receiving benefits which require you to), otherwise it's fraud. Read the full MSE News story: Unemployed walloped with high insurance.
Do you know the Consumer Insurance Act?
On 6 April 2013, the Consumer Insurance Disclosure Act (see our news story) came into force. It means insurers must ask the questions they want answers to when accepting business, instead of consumers having to volunteer the information they think may be relevant.
With this in mind, if a claim's rejected and you feel you haven't been "treated fairly" (this is a key phrase, quote it in correspondence), make a formal complaint. If that fails, you've a right to an independent decision from the free Financial Ombudsman. Full how-to in How To Make A Financial Complaint.
Flooding? What you should do
With the ever-increasing risk of flooding, we can all do our little bit to reduce the risk. What if you become an unfortunate victim of flooding? Do you know what to do, where to start or who to contact?
We've some top tips to help you claiming on insurance, and even how to minimise the risk. Read the full MSE News story: Flooding victim? Top tips for claiming on insurance.
Step 2: Correctly combine comparison sites
This is a relatively new system, where we split the best buys section into different types of categories. We'd love your feedback on if it worked for you and if there's anything you would change.
Typical person (doesn't fit other categories)
Comparison sites zip your details to hosts of insurers' and brokers' websites, scraping their data off the screens to report back the cheapest. So be aware they often feed your personal details to insurers.
Yet these screenscrapers don't all compare the same sites, so the best strategy's to combine them. We've analysed the comparison sites, using a large range of monthly data, primarily focused on which ones produce the cheapest results for each category, but also factoring in user feedback. (See How the order is picked).
Before you get going, be aware comparison sites make many assumptions. When clicking to insurers, check all the info is correct and the policy is suitable, especially if your roof's not tiled, the building's listed or it's had an extension. When insurers find out, they may not cover you.
Compare in the following order:
1. Confused.com Gets a cheap quote 71% of the time (in our sample)
-
Pros: Clear option to opt out of telemarketing calls. Excesses and cover levels clearly shown. Excellent images giving examples of the types of locks to help customers. Also, if you buy via Confused.com*, you'll get 1,000 Nectar points.
-
Cons: The excess can be edited but it does start at a high default of £250. Limited filtering system if you want to select certain cover levels. The option to edit quotations is not very clear. Assumptions are pre-ticked.
- Add feedback: Confused.com
Top two likely to give cheapest quote 88% of time (in our sample).
Approx time to get a quote: 6 mins
try it*2. ...plus Compare The Market Gets a cheap quote 88% of the time (in our sample)
-
Pros: Images available when selecting what type of security you have at the home. Well laid-out quotations page, clearly states the monthly payments and what added extras are included. You'll get confirmation of the quote by email.
-
Cons: The quotes on the results page only show the voluntary rather than total policy excess so double check the total. The marketing follow-up is slightly hidden if you want to opt out.
- Add feedback: Compare The Market
Check the big 'uns they miss...
Two competitive insurers refuse to be included by any comparison site. They sometimes have special offers, so are worth checking separately.
Aviva*: New customers buying buildings and/or contents insurance, who can
prove at least five years no claims on their existing policy, can save 40%
when buying online.
Direct Line*: Until 2 Jul 2013, buy a buildings and/or contents policy online and you can get up to 40% off. If you (or someone in your household) have another policy, see Direct Line Together* for details on getting more discounts.
Top three of sample likely to give a cheap quote 94% of time.
Approx time to get a quote: 7 mins
try it* 3. ... add MoneySupermarket Increases chances of cheap quote from sample to 94%
-
Pros: Has good options to reduce excess, a simple 'edit your quote' function. You also have the facility to filter by cover type. Email quotation sent quickly.
-
Cons: We couldn't find the 'opt-out' marketing link to stop being contacted. Be sure to read all assumptions, as displayed in two areas (second only visible when you click 'Statements').
- Add feedback: MoneySupermarket
Top four of sample likely to give a cheap quote 97% of time.
Approx time to get a quote: 6 mins
try it* 4. ... plus Gocompare Increases chances of cheap quote from sample to 97%
-
Pros: The sum insured clearly stated as are the monthly payments. You have an 'opt-in' option for marketing calls or literature, rather than an opt-out.
-
Cons: The compulsory excesses are not clearly shown. Also, if you need to make bigger changes to the quotation, the process of where to make them, or start, is not easily shown.
- Add feedback: Gocompare
Total...
(close to) 100% chance of cheap quote,
based on the insurers comparison sites cover.
5. Boost chances to nearly 100% More to try to really nail down all the quotes
If you still haven't found a deal you're happy with, or want to push the envelope, there are some more options to try.
Try the following comparison sites if you have time - each takes around
five minutes:
Tesco Compare*, QuoteZone*, uSwitch*.
Homes with only one bedroom
The more bedrooms you have, the higher the cost of insuring, so this means the order in which you should combine the comparison sites changes.
If rooms in your house were originally used as bedrooms, but you've only ever had them function as studies or games rooms, then don't count it in the number of bedrooms. However, never lie about a room's purpose — that's fraud and is illegal.
Compare in the following order:
Comparison sites zip your details to hosts of insurers' and brokers' websites, scraping their data off the screens to report back the cheapest. So be aware they often feed your personal details to insurers.
Yet these screenscrapers don't all compare the same sites, so the best strategy's to combine them. We've analysed the comparison sites, using a large range of monthly data, primarily focused on which ones produce the cheapest results for each category, but also factoring in user feedback. (See How the order is picked).
Before you get going, be aware comparison sites make many assumptions. When clicking to insurers check all the info is correct and the policy is suitable, especially if your roof's not tiled, the building's listed or it's had an extension. When insurers find out, they may not cover you.
1. Confused.com Gets a cheap quote 87% of the time (in our sample)
-
Pros: Clear option to opt out of telemarketing calls. Excesses and cover levels clearly shown. Excellent images giving examples of the types of locks to help customers. Also, if you buy via Confused.com*, you'll get 1,000 Nectar points.
-
Cons: The excess can be edited but it does start at a high default of £250. Limited filtering system if you want to select certain cover levels. The option to edit quotations is not very clear. Assumptions are pre-ticked.
- Add feedback: Confused.com
2. ...plus Gocompare Increases chances of cheap quote from sample to 94%
-
Pros: The sum insured clearly stated as are the monthly payments. You have an opt-in option for marketing calls or literature, rather than an opt-out.
-
Cons: The compulsory excesses are not clearly shown. Also, if you need to make bigger changes to the quotation, the process of where to make them, or start, is not easily shown.
- Add feedback: Gocompare
Check the big 'uns they miss...
Two competitive insurers refuse to be included by any comparison site. They sometimes have special offers, so are worth checking separately.
Aviva*: New customers buying buildings and/or contents insurance, who can
prove at least five years' no claims on their existing policy, can save 40%
when buying online.
Direct Line*: Until 2 Jul 2013, buy a buildings and/or contents policy online and you can get up to 40% off. If you (or someone in your household) have another policy, see Direct Line Together* for details on getting more discounts.
Top three of sample likely to give a cheap quote 98% of time.
Takes 10 mins to obtain a quotation
try it* 3. ...plus Tesco Compare Increases chances of a cheap quote from sample to 98%
-
Pros: Compare up to 4 products across the Tesco range, with good opt-out options. Clear summary of the sum insured, and what is being offered by the insurer. Breakdown of monthly cost if paying by instalments and a good 'sort' option.
-
Cons: The option to opt out of marketing contact not clearly shown. Took the longest to input details and return a quotation.
- Add feedback: Tesco Compare
Our fourth choice likely to boost chances of a cheap quote.
Approx time to get a quote: 7 mins
try it* 4. ... add MoneySupermarket Increases chances of a cheap quote
-
Pros: Has good options to reduce excess, a simple 'edit your quote' function. You also have the facility to filter by cover type. Email quotation sent quickly.
-
Cons: We couldn't find the 'opt-out' marketing link to stop being contacted. Be sure to read all assumptions, as displayed in two areas (second only visible when you click 'Statements').
- Add feedback: MoneySupermarket
Total...
(close to) 100% chance of cheap quote,
based on insurers comparison sites cover.
5. Boost chances to nearly 100% More to try to really nail down all the quotes
If you still haven't found a deal you're happy with or want to push the envelope there are some more options to try.
Try the following comparison sites if you have time - each takes around
five minutes:
QuoteZone*, uSwitch*, Compare The Market*.
Claimed on home insurance in past five years
When getting a quote, you'll usually be asked if you made a claim on insurance following repairs or a payout for contents loss or theft. If you have, it is very likely to push up the price you're quoted.
Step 1 - Combine the comparison sites in this order...
Comparison sites zip your details to hosts of insurers' and brokers' websites, scraping their data off the screens to report back the cheapest. So be aware they often feed your personal details to insurers.
Yet these screenscrapers don't all compare the same sites, so the best strategy's to combine them. We've analysed the comparison sites, using a large range of monthly data, primarily focused on which ones produce the cheapest results for each category, but also factoring in user feedback. (See How the order is picked).
Before you get going, be aware comparison sites make many assumptions. When clicking to insurers check all the info is correct and the policy is suitable, especially if your roof's not tiled, the building's listed or it's had an extension. When insurers find out they may not cover you.
1. Compare The Market Gets a cheap quote 72% of the time (in our sample)
-
Pros: Images available when selecting what type of security you have at the home. Well laid-out quotations page, clearly states the monthly payments and what added extras are included. You'll get confirmation of the quote by email.
-
Cons: The quotes on the results page only show the voluntary rather than total policy excess so double check the total. The marketing follow-up is slightly hidden if you want to opt out.
- Add feedback: Compare The Market
2. ...plus Gocompare Increases chances of cheap quote from sample to 96%
-
Pros: The sum insured clearly stated as are the monthly payments. You have an opt-in option for marketing calls or literature, rather than an opt-out.
-
Cons: The compulsory excesses are not clearly shown. Also, if you need to make bigger changes to the quotation, the process of where to make them, or start, is not easily shown.
- Add feedback: Gocompare
Check the big 'uns they miss...
Two competitive insurers refuse to be included by any comparison site. They sometimes have special offers, so are worth checking separately.
Aviva*: New customers buying buildings and/or contents insurance, who can
prove at least five years' no claims on their existing policy, can save 40%
when buying online.
Direct Line*: Until 2 Jul 2013, buy a buildings and/or contents policy online and you can get up to 40% off. If you (or someone in your household) have another policy, see Direct Line Together* for details on getting more discounts.
Top three of sample likely to give a cheap quote 98% of time.
Approx time to get a quote: 7 mins
try it* 3. ... add MoneySupermarket Increases chances of cheap quote from sample to 98%
-
Pros: Has good options to reduce excess, a simple 'edit your quote' function. You also have the facility to filter by cover type. Email quotation sent quickly.
-
Cons: We couldn't find the 'opt-out' marketing link to stop being contacted. Be sure to read all assumptions, as displayed in two areas (second only visible when you click 'Statements').
- Add feedback: MoneySupermarket
Our fourth choice likely to boost chances of a cheap quote.
Another 6 mins to obtain a quotation
try it* 4. .... plus Confused.com Increases chances of a cheap quote
-
Pros: Clear option to opt out of telemarketing calls. Excesses and cover levels clearly shown. Excellent images giving examples of the types of locks to help customers. Also, if you buy via Confused.com*, you'll get 1,000 Nectar points.
-
Cons: The excess can be edited but it does start at a high default of £250. Limited filtering system if you want to select certain cover levels. The option to edit quotations is not very clear. Assumptions are pre-ticked.
- Add feedback: Confused.com
Total...
(close to) 100% chance of cheap quote,
based on insurers comparison sites cover.
5. Boost chances to nearly 100% More to try to really nail down all the quotes
If you still haven't found a deal you're happy with or want to push the envelope there are some more options to try.
Try the following comparison sites if you have time - each takes around
five minutes:
Tesco Compare*, QuoteZone*, uSwitch* .
Step 2: Protect your no claims bonus (NCB)
It's not much help if you need to renew right now, but to ease the pain of future years, take some time to consider looking after your precious no claims bonus.
For every year you don't claim on the insurance policy you get a discount. This makes a substantial difference to the overall cost. If you do claim, you usually knock two years off this discount, deliberately encouraging people not to claim.
The vast majority of insurers offer the chance to protect your NCB; you pay more each year but if you need to make a claim it doesn't affect the NCB discount you get. Be aware though, if you move to a different insurer in future, they may not honour the deal you had with the last one!
Insuring high value contents (over £35,000)
Step 1: Work out how much to insure contents for
When working out how much to insure your possessions for, it's crucial not to under-insure. It may seem cheaper to err on the low side, but this could lead to insurers not paying out when you need them to. Add up everything you'd want to replace, including smaller items such as clothes.
If you insure £20,000 of possessions when you actually have £40,000, you'll at best only have half of your contents protected or, worse still, the policy could be cancelled for being underinsured. The latter will mean a hike in the future cost of insurance.
To get your magic number, walk from room to room, noting what everything would cost if bought again new, including fittings. You can access the Aviva contents calculator to help, alternatively, insurance broker Hiscox also has an online calculator.
You must specify individual items worth a lot (£1,500+) - for example, an engagement ring, or an expensive watch - when signing up, or risk them not being covered.
Very expensive possessions - eg, antiques, paintings - should be professionally valued. Remember their value may increase over time.
If you have several mid to high-value possessions, Hiscox* may be worth a check. Others are Home & Legacy, who provide three types of contracts to hopefully meet your needs, and John Lewis Specialist Home Insurance*.
Types of cover
Once you've defined the cover level, make sure you're comparing the price like for like.
- New for old. Here the payout should be for the original price of the items, though for clothing there's usually a wear and tear deduction.
- Indemnity cover. Here the broker only pays out current value of your possessions so, while it's cheaper, it can leave you in the lurch.
- Add-on cover. There are various types. 'All risks' includes property taken outside your home such as wallets or jewellery; legal cover pays for court costs.
Compare in the following order:
Comparison sites zip your details to hosts of insurers' and brokers' websites, scraping their data off the screens to report back the cheapest. So be aware they often feed your personal details to insurers.
Yet these screenscrapers don't all compare the same sites, so the best strategy's to combine them. We've analysed the comparison sites, using a large range of monthly data, primarily focused on which ones produce the cheapest results for each category, but also factoring in user feedback. (See How the order is picked).
Before you get going, be aware comparison sites make many assumptions. When clicking to insurers check all the info is correct and the policy is suitable, especially if your roof's not tiled, the building's listed or it's had an extension. When insurers find out, they may not cover you.
1. Confused.com Gets a cheap quote 66% of the time (in our sample)
-
Pros: Clear option to opt out of telemarketing calls. Excesses and cover levels clearly shown. Excellent images giving examples of the types of locks to help customers. Also, if you buy via Confused.com*, you'll get 1,000 Nectar points.
-
Cons: The excess can be edited but it does start at a high default of £250. Limited filtering system if you want to select certain cover levels. The option to edit quotations is not very clear. Assumptions are pre-ticked.
- Add feedback: Confused.com
Top two likely to give cheapest quote 82% of time (in our sample).
Approx time to get a quote: 6 mins
try it*2. ...plus Compare The Market Gets a cheap quote 82% of the time (in our sample)
-
Pros: Images available when selecting what type of security you have at the home. Well laid-out quotations page, clearly states the monthly payments and what added extras are included. You'll get confirmation of the quote by email.
-
Cons: The quotes on the results page only show the voluntary rather than total policy excess so double check the total. The marketing follow-up is slightly hidden if you want to opt out.
- Add feedback: Compare The Market
Check the big 'uns they miss ...
Two competitive insurers refuse to be included by any comparison site. They sometimes have special offers, so are worth checking separately.
Aviva*: New customers buying buildings and/or contents insurance, who can
prove at least five years' no claims on their existing policy, can save 40%
when buying online.
Direct Line*: Until 2 Jul 2013, buy a buildings and/or contents policy online and you can get up to 40% off. If you (or someone in your household) have another policy, see Direct Line Together* for details on getting more discounts.
Top three of sample likely to give a cheap quote 90% of time.
Takes 10 mins to obtain a quotation
try it* 3. ...plus Tesco Compare Increases chances of a cheap quote from sample to 90%
-
Pros: Compare up to 4 products across the Tesco range, with good opt-out options. Clear summary of the sum insured, and what is being offered by the insurer. Breakdown of monthly cost if paying by instalments and a good 'sort' option.
-
Cons: The option to opt out of marketing contact not clearly shown. Took the longest to input details and return a quotation.
- Add feedback: Tesco Compare
Top four of sample likely to give a cheap quote 97% of time.
Approx time to get a quote: 7 mins
try it* 4. ... add MoneySupermarket Increases chances of cheap quote from sample to 97%
-
Pros: Has good options to reduce excess, a simple 'edit your quote' function. You also have the facility to filter by cover type. Email quotation sent quickly.
-
Cons: We couldn't find the 'opt-out' marketing link to stop being contacted. Be sure to read all assumptions, as displayed in two areas (second only visible when you click 'Statements').
- Add feedback: MoneySupermarket
Total...
(close to) 100% chance of cheap quote,
based on insurers comparison sites cover.
5. Boost chances to nearly 100% More to try to really nail down all the quotes
If you still haven't found a deal you're happy with or want to push the envelope there are some more options to try.
Try the following comparison sites if you have time - each takes around
five minutes:
QuoteZone*, uSwitch*, Tesco Compare*
Based on a full survey carried out roughly every month, last done in May 2013 using April 2013 data. We compare quotes from Compare The Market, Confused.com, Gocompare, MoneySupermarket and Tesco Compare.
Once you've found the cheapest
Once you've found the cheapest from the screenscrapers, there are two important checks to make:
-
Double-check the quotes.
Click through to the insurance provider's own website to double-check the quotes, as to speed up searches some comparison sites make a few assumptions (see What to check).
-
Examine the policy's coverage.
Check whether it's suitable. If you want "accidental damage", is it included? And if you specified you were in an area affected by flooding or subsidence is this noted?
While you're there it's worth playing with the policy details to see if you can finesse the price down; look at the excess, and the name of the policy holder (if a joint policy) as the age of each person can affect your quote (see Cheap Home Insurance Tricks guide).
This tool by Find allows you to check the coverage of two different buildings and contents policies, side by side.
Screenscraper and broker differences
Brokers and screenscrapers may seem like they're doing a similar job, as each search a number of different insurers; yet they're radically different beasts. Compare it to searching for the cheapest loaf of bread... (bear with us!)
Individual insurers are like bakers, your choice is simply to buy its cheapest loaf that suits. Brokers are like supermarkets; they stock a range of bakers' loaves and the price charged depends on their relationships with suppliers. Screenscrapers are like sending someone round supermarkets and bakers to note all their prices.
What if my insurer goes bust?
Comparison sites include many providers, the vast majority of which are regulated. A small number aren't. For example, Markerstudy is regulated in Gibraltar, meaning you'll need to claim from there if it's your insurer and it goes bust, so it's always worth checking yourself if you're concerned.
In the unlikely event a regulated insurer goes bust, the FSCS will try to find another provider to take over or issue a substitute policy. However, if you've ongoing claims, or need to claim before a new insurer is found, the FSCS should ensure you're covered. For more see the Insurance section of the Savings Safety guide.
Further tricks to find a cheaper price
If the comparison sites haven't saved you money or given the cover you need, there are some alternatives:
-
Get quotes up to three months before renewal
A number of insurers will hold the price of the quotation for 90 days. This means that if you obtain a quotation two or three months before your renewal is due, you've locked in a price in case they rise in the near future. Some even lock in the price for up to six months ahead of renewal.
NatWest and RBS can provide quotations up to six months ahead. Aviva*, Barclays*, Churchill*, Direct Line*, First Direct and HSBC quotes are valid for up to 90 days, John Lewis Insurance* is valid for up to 60 days. Remember, the quotations are subject to your details not changing. Set up a Tart Alert to remind you when it's going to expire. -
Guarantee to beat your renewal
Several providers have price guarantees if you've not beaten your renewal quote but make sure you are getting the same level of cover, excess, courtesy car and the add-ons as your current policy:
Provider to try: The Post Office guarantees to beat renewal quotes by at least £50 for a buildings, contents or combined policy (some conditions apply, see the T&Cs).
Brokers and comparisons: Broker Quoteline Direct* promises to beat your price by at least 10% with similar cover. Comparison site uSwitch* also offers to beat your renewal , for cover on a like for like basis, by at least 10%, if you pay over £100 a year. If its online comparison doesn't give you a cheaper price, call 0800 051 5891.
-
If you've not got 'normal' circumstances
Some groups, such as those in areas prone to flooding, subsidence or whose house is left unoccupied for long periods, can find it incredibly difficult to find cheap insurance cover as they are considered too high a risk. Those with a chequered financial past - eg, bankruptcy or CCJs - may struggle too.
In these situations, insurer Home Protect* may be able to help. Or, see the Home Insurance Tricks guide for further ways to reduce your risk.
One final option is to try speaking to a local broker (search on the British Insurance Brokers' Association website) about your individual circumstances.
Don't miss new insurance deals & updatesGet MoneySavingExpert's free, spam-free weekly email full of guides & loopholes
Step 3: Grab hidden cashback and haggle
By now you'll know the cheapest available provider, yet you may be able to cut the cost further.
The top cashback deals
Check there aren't any hidden cashback deals, which can be as high as £120. If your second or third cheapest quotes weren't much more expensive, then see if cashback is available for them too, and find the overall winner.
The step-by-step list below takes you through a variety of options to improve your deal.
Check 1: Check for cashback
These sites carry paid links from some retailers and financial services providers. In other words, if you click through them and buy a product, they get paid. They then give you some of this cash, which means you get the same product, but a cut of its revenue.
Don't choose based only on cashback.
See it as a bonus once you've picked the right cover.
If you're new to cashback sites, make sure you read the Top Cashback
Sites guide for pros and cons before using them. Otherwise, use the Cashback
Sites Maximiser tool to find the highest payer for each insurer.
Things you need to know before doing this...
-
Never count the cash as yours until it's in your bank account. Cashback is never 100% guaranteed. There can be issues with tracking and allocating the payment, plus many cashback sites are small companies with limited backing, and you've no protection if anything happens to them.
-
Withdraw the cashback as soon as you're allowed. Money held in your cashback site account has no protection at all if that company went bust, so always withdraw it as soon as you're eligible.
-
Clear your cookies. While it shouldn't be a problem, if you've used comparison sites beforehand, there is a minor risk that the cashback may not track due to cookies - so it's good practice to clear those first (read All About Cookies).
Check 2: Check special deals
If you can't get cashback, it's worth noting a few companies have special deals not mentioned by comparison services. These currently include:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The 
New customers buying 
Until 7 Jul 2013, new customers who buy 
Buy a combined buildings and contents policy from the 
New customers buying a combined 
Buy a combined buildings and contents policy online from 
For new policies, until 30 Sept 2013, the 
New 
Until further notice, if you buy a combined contents and buildings home insurance from Haggle
The home insurance market is very competitive and companies are desperate to retain business. Therefore once you've got your overall cheapest price, get on the phone and try to haggle. There's often massive price flexibility, but be fully armed with the screenscraper's cheapest quotes and any available cashback first.
The first port of call should be your existing insurer. After all if it can
beat or even match the best quote, it saves the hassle of switching policy. If
that doesn't work and you're still in the mood, take it to a broker.
For more haggling tips, read the full Haggle On The High Street guide and 2013's top 10 firms to haggle with.
Step 4: Remember next year
Apply for cover from your existing insurer as a new customer and it's likely you'll be given a cheaper price. This is because home insurers, like any company, will happily profit from apathy if they can. Insurers must send out renewal notifications at least 28 days before renewal, though this doesn't leave much time and you can end up rushing to try to find a cheaper price.
To avoid being forced to decide quickly, diarise a warning up to three months before your renewal date, so there's plenty of time to sort out a new provider. Alternatively use the free Tart Alert, which sends a reminder text or email.
Get paid to be a mystery shopper
You could also sign up to Consumer Intelligence, a consumer research company, which pays several hundred people a month near renewal up to £50 to carry out comparisons. Importantly, you don't need to buy insurance from any of the companies you've contacted. See the It's a Mystery forum thread for full details.
The current record result - £67 PROFIT!
This technique's so powerful, some people get more cashback than their policy
costs, effectively meaning they were paid to take out the cover!
The current
record is held by MoneySaver Saving4Jesus.
The all-time record...
£67.50 PROFIT for a year's cover
-
Quote of £52.50. By using the comparison services he found a quote for £52.50.
-
Cashback of £120. That same insurer was paying a mammoth £120 cashback. Cashback tends to be fixed whether your quote's for £77 or £770, as it's all about insurers' marketing budgets rather than price.
-
So he was £67.50 up. For a year's home insurance, he actually made £67.50.
Prices have risen, but 2012 still saw success
With continued talk of increasing prices, reports of getting PAID to buy insurance, or just huge savings, still came in during 2012...
- £2 profit in 2012 MoneySaver Zimpaz got FREE home insurance and made a profit of £2 - as he said: "Wahoo!" The cheapest policy he could find was £49.58, then got £51.50 cashback, leaving an envious £1.92 profit.
- SAVED £900 The year's biggest saver reported: "We paid the same bank for 7 yrs. The latest quote was £1,270, but after cancelling, I could take out the same policy as a new customer for £390. How can it charge £900 more for the same?"
It's 2013... so share your success stories
- Tell us about your cashback, haggling or insurance saving success story for 2013! We love to hear when you guys get cracking deals. Please report super-cheap deals so we can share them with other MoneySavers.
Cut car insurance costs too
The Car Insurance cost-cutting guide works in exactly the same way and could save you another wedge of cash. If you're a driver, don't forget to check that out too.
Top ten supermarket price blunders
Sky takes over O2 and Be broadband: What does this mean for customers?
Consumer Futures calls for Spark Energy probe
Bank of Ireland makes partial U-turn on mortgage hikes
Falling petrol prices pushed inflation down in April
Should MoneySavingExpert encourage tax avoidance?
A poem of modern Britons – written in the strangest way
Dad, I've made it, I'm on Corrie!
I'm writing today and I feel like I'm skiving
The Martian – the most gripping book I’ve read in a long time (and it cost 77p)
