Contents insurance
Value your furniture, items, white goods and bedding accurately - overpricing them could see you overpaying and undervaluing them could leave you out of pocket in the event of a claim.

Accommodation
Some providers will offer temporary accommodation in the event of an accident that renders your property uninhabitable. As a landlord you may wish to be able to offer your tenants alternative arrangements in a worst-case scenario.

For a home you live in yourself, you can shave cover costs by opting to stay with relatives in the event of an accident. Alternatively, the guarantee of a roof over your head whatever the circumstances, may be worth the additional premium cost.

Excess
Increase your excess to lower your insurance premium, however the higher this sum, the more you will pay in the event of a claim.

Security
Install alarms, locks and defences - burglar alarms deter thieves and reduce premiums.
Certain providers may insist on a NACOSS contract.
Smoke alarms offer premium discounts; window and door locks carry discounts, as do dogs;
neighbour watch scheme membership is a boost too.

Comparison
Shop around for the best deal. Your mortgage lender will often provide the worst deal, since they rely on an apathetic captive audience. The internet is the best tool for comparing deals. Approach your current lender with a better deal and they may match it

Age
Ensure the policy is held by the oldest owner/resident of the property. Providers typically offer lower premiums to older homeowners.

Payment
Pay premiums annually, as opposed to monthly. This method offers better value for money.

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This article was first published on Simply Business.