Home and contents insurance should never be overlooked and there are ways that you can maximise the bang that you get for your buck, so to speak.

Here are 5 tips from RealRenta to help you reduce your policy costs:

• Home and Contents insurance policies are generally priced, based on your location.

Insurance companies look at the risks affecting your individual home as well as crime rate in your area, how close you are to traffic and pedestrian thoroughfares. Living near train stations and bus stops is seen as increasing the risk of break in. If you are still in the process of buying a home, consider these factors if you want to reduce your insurance costs.

• Security measures

Consider investing a little extra in security as it could reduce the costs of your premium. Things like security cameras and deadbolts can actually affect the price of your premium.

• Multi Policy Discounts

Some insurers offer a multi policy discount, so get in touch with your insurer and see if they can do anything for you.

• Loyalty Rewards

Tell your insurer that you have found a better deal elsewhere and they will probably offer you a loyalty discount if you stay- there is no harm in trying.

• Review your policy regularly

It is always good to know what else is out there and compare them to your current policy and switch if the deal is better elsewhere.

Want to learn more about Managing your own Investments and increasing your return?

Visit www.realrenta,com.au and use RealRenta for Free for up to 2 months and see how easy it is.

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