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5 ways to save on home and contents insurance
Release time:2020-09-09 Views:417
1. Buy your policy online Suncorp offers a discount on Home and Contents Insurance when you get a quote and buy online. When you take out a policy with Suncorp, you can opt to pay your premium annually rather than monthly. Doing so means you’ll pay a little less in total. 2. Choose a higher excess When you make a claim, you may need to pay an excess. Your excess amount will be listed on your certificate of insurance. That being said, you can choose a higher excess to pay less on your premium. Make sure you consider which arrangement is most suitable for your circumstances. Though increasing your excess could reduce your premium, it will mean a larger out-of-pocket expense at claim time. 3. Combine your policies for a multi-policy discount Suncorp offers a multi-policy discount to customers that hold three or more eligible personal insurance policies. Policies include: Home Building Contents Motor Insurance (car, motorhome, motorcycle and caravan), and Boat Insurance. Compulsory Third Party (CTP) QLD counts as an eligible policy but the premium for it can’t be discounted. You’ll receive the multi-policy discount on your new cover when you take it out, and on your existing policies on their next renewal date. 4. Review your sum insured regularly Your sum insured — the maximum amount you’ll be paid out if you make a claim — should reflect what it would cost to repair or replace your things if they’re damaged or stolen. Getting into the habit of reviewing yours regularly also means you can specify new additions on your policy, like a bathroom reno, or big-ticket purchases like TVs and laptops. It won’t necessarily lead to a cheaper premium, but it will ensure you have the right level of cover — and help you avoid being underinsured, which is when your cover doesn’t accurately reflect the value of your home and belongings. Underinsurance can lead to greater costs for you, since the amount you’ll be paid out for a claim may not cover everything you need it to.