According to the Insurance Fraud Bureau, undetected fraudulent insurance claims amounting to £1.9 billion a year are adding £44 to everyone’s annual insurance costs.

When we factor in the slow but sure rise in the cost of living, it clearly makes sense to key an eye on your home insurance premiums.

That’s not to say you should cut corners and be under-insured, or that we should offer you inadequate cover that results in the lowest premium possible.

But there are a few simple steps you can take to help us keep your costs down.

Improve your security

It’s a comparatively simple matter to improve the security of your home.

Installing burglar alarms, five-lever mortice locks, window locks and security lights will help keep thieves at bay and may well reduce your premium.

Check your level of cover

Make sure that your home insurance accurately reflects the value of your possessions and the building you are insuring.

An over-valuation could result in a higher premium than necessary, just as an under-valuation could result in a disappointing level of compensation, if you have to make a claim.

Buy two policies together

It’s worth exploring the possibility of buying your buildings and contents insurance as a single policy.

If you have to make a claim that affects both your building and contents cover, you may well pay only one excess and get a discount on the premiums in the first place.

Check your voluntary excess

It may be that, by increasing the amount you’re willing to pay in the event of a claim – the voluntary excess – you may be able to reduce your annual premium.

For further advice on any of these matters, please get in touch with your Account Executive who will be pleased to help in any way possible.

February 14 2012