Can I make my home insurance premium cheaper by paying a larger excess?

By volunteering to increase the amount of excess you pay in the event of a claim, insurance companies will reduce your quote. Be careful that you understand the consequences of increasing the excess voluntarily. Depending on your policy, you could have several excess payments to make if you do make a claim.

Any other premium-reducing tips?

Some insurers will reduce your premium if you pay by direct debit. As well as making a saving, you also get to spread the cost.

Most companies also offer a discount – around 5 to 10 per cent – if you simultaneously take out buildings and home contents insurance with them.

If your car insurance company also does home insurance, there’s normally a loyalty discount for customers buying both. The linkages between companies are not always obvious, so ask.

Member organisations, credit or bank cards, trades unions and professional organisations frequently include benefits such as specially negotiated rates with insurance companies.

What is no claims bonus?

Many home insurance companies are now copying their car insurance counterparts by offering customers discounted rates as a reward for each year of claim-free business.

I’ve bought property to let, do I still need contents insurance?

As a landlord you have the sole responsibility for buildings insurance for rented property. If the property is furnished, you cannot always rely on a tenant’s deposit covering all the other potential damage that can occur from time to time. It’s your decision as to whether buying contents insurance is better value for money than the risk of unbudgeted expense. There is, it should be noted, a distinction to be drawn between accidental damage and damage caused by normal wear and tear.

My son/daughter is at university, can I get a quote to cover their possessions while they’re studying away from home?

Yes, there are tailor-made insurance policies designed for this. Called student home insurance, these policies are comprehensive. They offer not only theft and accidental damage to a student’s or the university’s possessions, but also their home against vandalism, burst pipes, storm and flood damage. Individual items like expensive computer equipment can also be named on the policy.

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