Paying too much?
9 Ways to Reduce Your Home Insurance Premium
Specific, evidence-based ways to cut your home insurance without losing cover. PolicyPal checks your policy for missed discounts.
Your policy is the only source of truth
Get a precise answer for your exact policy
Generic answers don't pay claims. PolicyPal reads your policy wording in seconds and tells you, in one sentence, whether you're covered.
Quick wins (no cover changes)
Each of these typically saves 5–15% with no impact on what you're protected against.
- Pay annually instead of monthly — APR on monthly is often 20–30%.
- Renew 21–26 days before expiry — quotes are statistically cheapest in this window.
- Set your excess to $250–$350 (sweet spot before insurer trust drops).
- Remove accidental damage cover if you've not claimed it in 5+ years.
Structural & security discounts
Most insurers offer these but only if you tick the right box at quote time:
- BS3621 5-lever mortice locks on final exit doors.
- Burglar alarm with NSI/SSAIB approval.
- Smoke and heat detectors on every floor.
- Neighbourhood Watch membership (often 2–5% off).
The hidden one PolicyPal looks for
Many policies double-count cover you already have through a packaged bank account, mobile contract, or warranty. PolicyPal cross-checks your policy and flags overlap so you can strip it out at renewal.
Frequently asked
- Does raising my excess always lower premium?
- Up to about $350, yes. Above that, insurers start to assume you're avoiding small claims and price you as higher risk.
- Is it worth switching every year?
- Almost always. Loyalty pricing is now banned but renewal quotes are still 10–20% higher than new-customer prices on average.
Your policy is the only source of truth
Stop guessing. Check your actual policy.
Generic answers don't pay claims. PolicyPal reads your policy wording in seconds and tells you, in one sentence, whether you're covered.