Your property is one of, if not the most important possession you own. Typically it is also the most valuable asset in your life and if the value of the possessions within your home is added, then to not protect your household with insurance is simply foolhardy.

Whilst it may be a necessary expense however, protecting your property from unforeseen events such as fire, theft, floods and storms, there is nothing wrong with trying to find cheap home insurance. In this day and age with economy in its current state then saving as many pennies as possible, whether it be on the weekly shop or on the annual home insurance premium is always worthwhile.

But how can you make your home insurance cheaper?

The first, and most important tip is to research, research and then research some more. The insurance market is a crowded place and competition for your business is high. As such by taking the time to shop around you find the best chance of finding a god deal and a cheap price. When shopping around however you may want to consider the following as this may act as leverage when bartering for a lower premium price.

• Mentioning that you are part of a neighbourhood watch scheme can help to bring down the cost of home insurance.

• Improve the security of your home, perhaps by fitting a burglar alarm or secure windows and doors. This may cost you more in the short term but over years of buying insurance it is possible to recoup the costs and save money.

• A smoke alarm should be fitted as a matter of course purely for the safety of you and your family; however it is also worth mentioning when securing your insurance.

• Make an accurate audit of the value of all of your possessions. Many people fail to re-check their contents policy at the time of renewal, which could be cheaper if you own less or fewer valuable items.

• Get your home checked over for subsidence by a professional regularly and you can then tell the insurance company that chances of subsidence are minimal.

• Build up a no claims bonus buy paying for those smaller jobs yourself. No claims bonuses can be one of the best ways to achieve a discount on a home insurance policy.

• Be willing to pay a higher excess payment and you may also receive a cheaper premium.