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The last few months have seen the differing strategies and opinions of the Bank of England and the government come to the fore at a time when the UK economy needs all parties to be pulling in the...
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Friday 26th October 2007
There are plenty of proactive steps homeowners can take to cut their home insurance premium, according to Jonathan French, assistant director of media relations at the Association of British Insurers (ABI).
ABI figures show that the UK insurance industry paid out £64 million per day in 2006 in general insurance claims, including £9 million to householders for property damage or the loss of possessions.
But Mr French said that steps like installing good quality locks on doors and windows could not only bring down premiums, but also make homes less at risk of burglary, and he also recommended shopping around for the best deals in help make home insurance more affordable.
He added that voluntary excesses could also bring down the cost, saying: "People can save money on their monthly premiums by opting for a higher voluntary excess but that comes down to a matter of personal choice because what it means is that, while your premiums are lower each month, if you have to make a claim you will be liable for whatever the excess on your policy is."
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