Homeowners who choose to pay spread the cost of their home insurance by paying monthly could be adding an extra 12% to the cost of their annual premium as a result. The research carried out by insurance price comparison website, moneysupermarket.com revealed that the cost of home insurance could rise by as much as 12% as a result of consumers opting to pay for their home insurance month by month, as opposed to paying the whole premium in one lump sum. However the study also found that consumers could reduce this percentage to as a little as 5% by shopping around for a deal on home insurance. If paying your home insurance premium in one go is not an option for you, one expert from moneysupermarket.com advises using a 0% interest credit card to pay the premium. This way you pay the home insurance premium off in instalments by paying off your credit card every month, however you won’t be charged for the privilege of doing so if you use a credit card with 0% balance interest. However this will only save you money provided the balance is paid off in full prior to the 0% interest offer coming to an end. Other tips for saving money on your home insurance include only taking out cover which you really need. Taking out a policy with accidental damage cover adds on average 25% to the total, so consider whether this is absolutely necessary before you agree to the premium. Also, only make claims on your policy which are really necessary, if you encounter a minor mishap, it’s often in your interest to pay to rectify the issue yourself instead of making a claim on your policy in order to safeguard your no claims bonus which leads to cheaper premiums.