Security Measures
Insurance companies will stipulate the minimum security measures required at your residence, based on the area you live in. It is
possible to get a discount on your insurance quote when your security exceeds the minimum requirement. Residential Area
If you live in a high risk area, insurance companies will load your premium as such. You would therefore pay a higher premium for the
same amount of cover than someone living in a low risk area.
Type of Cover
Generally, your house contents are covered against fire, theft, water, wind and storm damage. In order to reduce the rate on your
insurance quote, you can exclude burglary and theft cover, or exclude flood damage (it is not recommended though).
Roof and Wall Construction
A residence with a non-standard roof or walls (e.g. thatched roof) is a higher risk than a standard residence, and will be rated as such
by an insurance company.
Voluntary Excess
With most insurance companies, you can increase your excess in order to reduce your monthly premium. A voluntary excess refers to an
additional amount you're willing to pay when a claim arise. This amount will be added to the basic excess of the policy when you submit a
claim. A higher voluntary excess will result in a lower insurance premium.
No Claim Bonus (Claim-free Years)
Your insurance history will have an influence on your insurance quote. First-time insurers pay more for insurance cover compared to
someone with proof of insurance. The discount is calculated in accordance with the claim-free years you've been insured.
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