INSURING YOUR HOME

4 ways to reduce your Home Insurance premium


In times of constant change and uncertainty, the last thing you want to worry about is your home insurance. Here are four things you can review to potentially reduce your premium.

1. Value your contents correctly

Since we don’t often think about how much our assets are worth, it’s easy to value them with the first number that comes to mind. But undervaluing or overvaluing your contents can be a mistake. While you don’t need to track every item in the cutlery drawer down to the cent, valuing your contents as accurately as you can is a great way to save money in the long run. 

If you overvalue your contents, you’ll be paying more than you need to for your home insurance premium. And if you undervalue your contents, you could be caught short if you need to make a claim.

To keep your estimates accurate and your premium low, jot down your assets, keeping digital records of as many receipts as you can.

2. Increase your excess

When you make a claim on your home insurance policy, you may be required pay an excess. The way an excess often works is: the higher the excess, the lower the premium, and vice versa. With GIO Home Insurance you can choose to vary your excess. And the more you increase your excess the lower your premium will be. Therefore, you need to think about whether you would prefer to pay a lower premium and a higher excess (at the time of a claim), or pay a higher premium to pay a lower excess.  

3. Keep your house safe

Your home insurance can help you stay in control when something goes wrong, but prevention is a whole lot better than cure. Do what you can to keep your home safe from different kinds of threats, like checking your fire alarm regularly and locking doors and windows when you’re out. Plus, installing a burglar alarm won’t just help deter potential thieves, in some situations, it can also make your insurance premium cheaper.

4. Combine your policies

Did you know that if you hold three or more eligible policies with GIO, you can save 10% on your premiums?1 That includes Home Building, Contents, Landlord, Car, Motorcycle, Caravan and Boat Insurance. 10% is a huge saving over the lifetime of your policies, and it’s a lot of easier to manage your insurance when it’s all coming through the same trusted provider. 

Compare Home Insurance Options

To find out more about GIO Home and Contents Insurance call us on 13 10 10 or get a quote online now and don’t just think you’re covered, know with GIO.

1 Terms and conditions apply


Insurance issued by AAI Limited ABN 48 005 297 807 trading as GIO. Consider the Product Disclosure Statement before buying this insurance. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.

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