Home insurance is an essential element of owning your own property. Not only does it protect your house from freak damage, like snow storms and thunderous rain, but depending on the policy you have, you could also protect your home’s contents too.
If you already have home insurance, it can be tempting to just let your insurers sign you up for another year, when the renewable forms come through the post. However, if you want to save some cash in the long run, make sure you have a look at those forms, and compare some of the other deals on the market.
Just by spending an hour on the internet or on the phone, you could save your save enough pennies over the course of a year to pay for a weekend away. Most people, without considering the alternatives, renew their home insurance every year. However over a decade, the money they could save could top over £750. You could even find home insurance policies that could cost you nearly 50 per cent less, with more added benefits!
Those with no claims hardly ever change their home insurers – no claims means low premiums right? Wrong, because if you did make a claim, all those years of paying your premiums and no-claims will still leave you with an almighty annual price hike.
Over the last ten years, online price comparison websites have driven down the costs of home insurance – mainly because it’s become so easy to find the best deal. Spending a short amount of time, in some cases only 15 minutes, will allow you to access the best deals from insurers all over the country, and on average you’re bound to make a saving of at least £100 on your renewal policy.
Additionally, before you buy home insurance, make sure you’re armed to the teeth with information. In order for these sites to find you the best deals, you’re going to need to input all your insurance needs, including the premiums you’ve been paying, and the amount of time you’ve been in contract with your current insurer. Your best bet is to have your policy documents to hand, so you can quickly check any information that the price comparison website needs.
Don’t be surprised, however, if the new quote you get isn’t what you were expecting. Many things affect the type of policy you’re offered, as well as the amount to cover your home and possessions. If you have bought an expensive new sound system, recently built an extension, or you have just started a new job, there are all factors which can affect your home insurance quote.
What To Look For
You need to know the amount of money that will cover your debts, before you set out looking for home insurance. For example, if you have a £50,000 mortgage, you’ll need at least that amount to be covered in your home insurance, just in case your home is severely damaged. You may want to add a few thousand onto that to replace any damaged items in your home.