Believe it or not insurance is a necessary part of life, we never know what might be around the corner and is worth setting your mind at ease for any unforeseen situations, but just because we need house insurance does not mean we have to pay through the roof for it, no pun intended.

Here are 3 easy steps you can apply right now to start saving you up to a massive 30% of your monthly insurance payments. If you are not following these steps, you're simply losing money.

1. Query Your Insurance Company

Sometimes you just need to ask. Find out if you are eligible for any discounts with your current policy. If you are getting your full savings, then ask if there is anything further you could do to increase your savings such as perhaps taking out all of your insurance with the same company. Most insurance companies insure for more than just home and contents but also branch out into other areas such as auto, health, life, renters, disability to name a few. If you take out more than one policy with them you should be able to get a group discount. If your policies are with other companies, weigh up your options for consolidating with only one.

You could also ask if you qualify for discounts on the grounds of being a non smoker, aged 55 and over, a single parent, etc. It pays to ask.

2.Better Protecting Your Home

Better protecting your home reduces the risk of fire hazard and burglary. Insurance is all about managed risk and likelihoods, so if you take necessarily measures to ensure your home's security you reduce your risk and consequently reduce your premium. This can be done by simply installing smoke detectors and fire extinguishers in your home. Upping your home's security with monitored alarms and good quality locking mechanisms for doors and windows also reduces the risk of future break ins further reducing your insurance premiums.

Talk to your insurer about it, make sure they are updated once the changes are made so that you can be saving on your insurance premiums sooner than later.

3. Maintain A Good Credit Score

A good credit score can be just as important in getting a loan as it is with getting a competitive insurance rate. Credit score is used by insurers to paint a picture about you. In the eyes of the insurer, the higher the credit score, the more responsible you are and the less claims you are likely to make. It pays to maintain your credit score as it will allow you to reduce the insurance rate at which you currently pay.

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