Dare to Share

I won’t be adding case studies every time I find a better deal elsewhere but I was so amazed at just how much we managed to save today I wanted to tell all. Take a look at the in-depth guide on how to save money on your home insurance for further details on what to do.

A friend, Henry, asked me to see whether he could better his home insurance renewal that he’d just received through the post. It was £601 - that’s just for a small 2 bed mid-terrace house in the Midlands so I presumed we’d easily be able to knock a couple of hundred pounds off that price by, simply, shopping around.

I searched moneysupermarket.com and confused.com for a like-for-like insurance policy. The top 10 prices ranged from £110 to £200 so I then had a look on the top cashback sites to see if any of those companies had any cashback deals to reduce the yearly premium even further. The key with this is if you find that they do you will then need to click through from the cashback site to the insurance company as the prices can differ.

After a little more searching I eventually found a great deal with Norwich Union Direct for £215, but they were also offering £70 via Quidco and Cashback Kings. Henry also wanted to pay monthly, but as with so many other insurance companies Norwich Union would allow you to pay monthly but also charged you 8% APR for the privilege (roughly £10 extra for the year) - I still get a little bit annoyed with companies that decide to charge for a direct debit in this way so what I would suggest is to also get a credit card that has 0% APR on purchases for a year - that way you can pay the total amount in full and pay your credit card back each month without getting penalised with any further interest.

The saving was a massive £446 simply by taking the time to hunt around.