How to Save Money on Home Insurance with Asda Money

30th October 2019

Home, Money

Buying a home is an expensive process and looking after it can add up too. One of the costs involved in having a home that isn’t often talked about is the cost of home insurance. It can range in price depending on how much your property is worth, but the ways of saving money on your home insurance are the same no matter what the value of your house or flat is.

We’re here to give you eight of our top tips on getting cheap home insurance by cutting costs where you can, without significantly reducing the coverage you receive from your insurer.

Compare home insurance quotes

The most important piece of advice we can give to help you secure the cheapest home insurance possible is to compare quotes online from different insurers. Comparing insurance isn’t a new concept and comparison sites exist for all kinds of insurance, from car insurance to pet insurance. All insurance comparison sites offer the same benefits though – you can compare quotes from lots of different insurers in one place and find the best price and coverage for you.

We’re switching the way we offer home insurance so you can compare quotes from lots of different insurers. This means that you don’t have to spend time shopping around anymore; just fill in one set of questions with Asda and you’ll be able to see a range of quotes that suit your needs and pick the one that’s best.

Compare quotes now

Combine buildings and contents insurance

Home insurance basically comes in two parts: buildings insurance and contents insurance. Buildings insurance covers the structure of your home against certain types of damage while content insurance covers the things inside it.

You can choose to buy these two types of home insurance separately, but you’ll often get a cheaper overall cost if you pick buildings and contents insurance from the same insurer. While in some cases you might have a special reason to buy them separately, if you’re looking for the cheapest total home insurance quote, check out combined quotes first.

Don’t over-insure

The cost of home insurance varies massively between different properties, with the market value of the house or flat, its security, and the combined value of your contents all having an impact on the final price. To make sure you’re getting the cheapest price you can for your home insurance, make sure you’re not over-insuring.

Insurers are usually most concerned with knowing the re-build cost of your home and the total value of your contents. These two figures give them an idea of the risk involved – if your home would be incredibly expensive to re-build or your possessions costly to replace, you can expect a higher premium.

To keep your costs as low as possible, take care to accurately portray how much your home would realistically cost to re-build in the event of a disaster and how much it’d cost you to replace any damaged or lost contents. That way you’re not paying anything above what you need.

Remove unnecessary optional extras

Most types of insurance come with the option of adding on extras that offer cover against additional risks, and home insurance is no different. The optional add-ons that are available for home insurance can range from coverage for accidental damage to contents, to coverage for legal expenses incurred.

While it’s likely that you might want to take advantage of some of these home insurance extras by adding them on to your policy, if you want to keep your home insurance costs low, make sure you’re not picking any extras that you don’t really need.

Improve the security of your home

Theft is one of the big risks that insurers take on when they provide home insurance so anything you can do to improve the security of your home and make it less likely to be burgled is likely to be reflected in the price you pay. You’ll also get peace of mind that you’re protecting yourself from thieves.

The top things you can do to improve the security of your home are to join a neighbourhood watch scheme and to install a proper home alarm system. Not only can these things keep your home safer from theft, they can see your home insurance premium get cheaper.

Pay annually

Paying annually is a trick for reducing the cost of all types of insurance, not just insurance for your home. While the saving you get on your premium from choosing to pay annually rather than in monthly instalments might not be massive, it should help to drop the price a little bit.

Build your no-claims bonus

No-claims bonus exists for most types of insurance. It’s a discount you get on your premium for having a good history of not claiming on your insurance, showing insurers that you’re low risk. Building your no-claims discount could add up to be a significant saving on your home insurance over time.

Work towards building your no-claims discount by avoiding claiming on your insurance wherever possible. That usually means not making claims for damages that could feasibly be paid for out of pocket instead.

Increase your excess

Your agreed home insurance excess payment is the amount that you’re willing to contribute to repairing damages or replacing lost or stolen contents in the event that you make a claim. You can change your voluntary excess to suit your needs, and the amount you set will influence the cost of your home insurance premium.

By setting your excess higher, you can push the price of your premium down slightly. Before you decide to increase your voluntary excess, make sure that you’re certain you’ll be able to pay the excess should you come to claim.


Compare home insurance with the the Asda Home Insurance comparison service to receive quotes from leading insurers and get covered in minutes.

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