More and more people across the country are facing rising living costs and lower salaries or freezes on pay increases. In this economic climate it makes sense to do everything you can to cut your monthly bills, including your house insurance premium. Put these tips into practice to get cheapest insurance coverage.

Tip 1: Always Compare Quotes

All too often people are content to stay with their insurance provider year on year. Renewal time is often when your provider will try to sneak in a rise in your premiums. When the time comes to renew your house insurance policy make sure you see if you could get a better deal elsewhere. Be careful to make sure that you are getting the level of protection you need when you compare quotes – sometime a cheaper premium is due to less cover.

Tip 2: Consider a Higher Deductible or More Exemptions

Your house insurance policy will likely have a certain amount of money that you must pay out of pocket before your insurance policy kicks in – this is known as a deductible. Generally, the higher your deductible, the lower your premium. Accepting a higher deductible can save you money on your monthly bills, but it can be a risky endeavour. Think about how likely it is that you will suffer damage in a year and calculate whether the reduction in premiums is worth it.