Home insurance savings

Buying home insurance through a cashback website can give extra savings - you can even get paid up to £100 simply for taking out a policy
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Fancy getting paid up to £100 simply for taking out home insurance - and possibly even more than the cost of some premiums?

Many home insurance offers fail to live up to their hype but buying through a cashback website such as Topcashback.co.uk or Quidco.com, can give genuine extra savings, even on policies that you have already confirmed as offering good value.

For some lucky policyholders, such commission rebates have worked out more than the cost of their annual premiums - with £67 the record overall profit, according to consumer website Moneysavingexpert.com.

Household-name insurers that Topcashback currently offers rebates for include MoreThan (£70, in addition to the insurer’s offer of “free” contents cover); Aviva ( also £70); and Lloyds TSB (up to £75).

However, cashbacks are not available on all insurers and there is no guarantee that these incentives will actually pay out. Also, even with a very generous cashback, an insurer may not be competitive.

Some buyers of building insurance pay too much because they take out cover based on the market - rather than the rebuild-value of their home. The Association of British Insurers has a free online calculator for estimating rebuilding costs at abi.bcis.co.uk. Having an approved burglar alarm, window locks and membership to a Neighbourhood Watch scheme can all give discounts on cover.

Online comparison services will trawl more than a hundred policies to find good deals in minutes. According to Moneysavingexpert.com, the speediest and broadest results are found by Confused.com, Comparethemarket.com and Moneysupermarket.com but also check Direct Line and Norwich Union (now called Aviva).

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