Apart from the legal requirement if you have a mortgage to have building insurance in place there are many other reasons you should have a good quality home insurance product in place.
These days it is so easy to hit Google and search for home insurance and be bombarded with every comparison site on the internet. Most of these sites you will already know are great at finding you the cheapest policy on the market, however, that policy may provide little cover to what actually matters to you.
Home insurance can be much more complex than you might think as it covers much more than just your property should it suffer damage or just your contents should you suffer theft or a fire for example.
Two of the worst things I hear from people when they speak to me about a claim they've had to make are:
1. They have a huge excess they never knew they had
2. They have been told they are under insurance.
I felt it worth a quick mention to explain what under insurance is.
Let's say you unknowingly insured your contents for £30,000 even though your contents were actually worth more like £50,000. You have underinsured yourself by 40%. If you had to make a claim due to something like a fire, the insured is within their rights and also likely to only pay out half the claim. So if the claim of fire damaged contents was for £20,000 they will only payout 60% of the claim which would be £12,000 leaving you to cover the remaining £8,000
We work with providers of 5-star defaqto rated insurance that is classed as some of the best in the market. You might think that only means higher monthly premiums, however, that’s not always true. This is an independent rating by experts in the industry on what the policy covers, how easy it is to get paid for the issues that have occurred without paying extreme excesses which are enough to put you off making a claim in the first place.
When considering which home insurance to go for things we suggest you need to consider are:
Building cover amount
Accidental building damage
Content cover amount
Accidental damage cover for contents
High risk, high value items within the home
Personal possessions cover outside the home
Home emergency cover
Legal expense cover
Tenants contents insurance
Non standard property insurance
Large or expensive home insurance
Home insurance policies can be there to cover much more than just the bricks and mortar of your home. The best thing to do is speak to one of our advisers who can go through all the additional benefits a home insurance policy can offer and provide quotes for some of the market-leading insurers who provide hassle free insurance who you can rely on when you need them most.