Between e-tolls, inflation, and the rising cost of living, we’re all looking for ways to stretch our budgets a little further each month. Sometimes that means cutting back on those gourmet coffees, choosing a no-name brand shampoo, or waiting for that blockbuster to hit streaming instead of hitting the big screen.
But what if we told you that you could save money in the long run by making a few smart upgrades to your home security? Yep, you read that right! With the right security measures in place, you could reduce your home contents insurance premium and protect your valuables at the same time. It’s a win-win!
Why home contents insurance matters
Before we get into the savings, let’s be clear: home contents insurance is not the place to cut costs by cancelling your policy! Imagine coming home to find your TV, PlayStation, laptop, and even that life-sized statue of yourself (made entirely out of cold drink cans) missing. Not ideal, right? That’s where home contents insurance comes in. It provides financial protection for your belongings in case of theft, fire, or accidental damage.
Rather than going without cover, here’s how you can lower your monthly premium while keeping your belongings protected:
1. Choose a safer suburb
We get it: if your family home has been in the clan for three generations, moving isn’t exactly an option (unless you live in a house with wheels, which would be flipping cool). But if you’re renting or planning to move soon, compare crime stats of different areas. Insurers consider the risk of crime in your suburb when calculating your premium, so opting for a lower-risk area could mean a lower premium.
2. Install a home alarm system
A professionally installed and monitored alarm system is one of the best investments you can make for your home’s security. Not only does it deter burglars, but most insurers (including the king) will also give you a discount on your monthly home contents insurance premium if your alarm is linked to an armed response company.
3. Get an electric fence or motion detectors
Adding an electric fence or outdoor motion detectors can further secure your home and contribute to a lower insurance premium. Sure, there’s an upfront cost, but in the long run, it’s worth it for both the peace of mind and potential savings. Plus, as an added bonus, you get to watch mosquitoes meet their demise against the fence on summer nights. Small victories!
4. Install burglar bars and security gates
Burglar bars and security gates are some of the most cost-effective ways to enhance your home’s security. Just make sure you use a reputable company, because let’s be real: some skelms are more resourceful than you think. By adding these security measures, you reduce your risk of break-ins and qualify for an insurance discount.
5. Don’t skimp on cover
It may be tempting to insure your home contents for a lower amount to reduce your premium, but this can leave you underinsured. If you need to claim and your insurance doesn’t cover the full replacement value of your belongings, you’ll end up paying out of pocket. Use an inventory form (like the one we provide) to ensure that all your belongings are accounted for and adequately covered.
6. Upgrade your locks
High-quality deadbolts and security locks on your doors and windows make a significant difference in your home’s security. Insurers appreciate these proactive measures and may offer you a lower premium if your locks meet security standards.
7. Let the king know about your security upgrades
If you’ve made any security improvements, let us know! Your insurer can adjust your home contents insurance premium based on these upgrades, ensuring you benefit from lower costs.
The bottom line
You don’t need to build a moat around your house (although, let’s be honest, that would be pretty cool) to secure your home and save money on your insurance. Implementing these smart security measures can help you lower your premium while keeping your belongings safe.
Don’t have home contents insurance? Whaaaat? The few hundred rand a month is a small price to pay for peace of mind cover. Click here and get a quote now!
FAQs
1. How can I lower my home contents insurance premium?
You can lower your premium by installing an alarm system, security gates, burglar bars, or moving to a lower-risk suburb. Also, keep your insurer updated on any security upgrades.
2. Will an alarm system really lower my insurance costs?
Yes! Especially if it’s linked to an armed response company. Most insurers, including King Price, offer a discount for added security measures.
3. What happens if I’m underinsured?
Being underinsured means that in the event of a claim, you won’t receive the full value to replace your lost or damaged items. Always insure your belongings for their actual replacement value.
4. Do I need to notify my insurer about security improvements?
Absolutely! Letting your insurer know about added security features can result in a lower premium.
5. What does home contents insurance cover?
It covers your personal belongings inside your home against theft, fire, and accidental damage. Think of it as a financial safety net for everything you own.
