If things go to plan, you won’t ever need to claim on your home insurance. However, disaster can strike, and if it does, you need to make sure you’re properly covered. The sad truth is, many people are leaving them exposed to disaster as they aren’t choosing policies that suit them. It’s estimated that over 6 and a half million homes aren’t insured properly – what a scary thought. Read on to learn everything you need to know before selecting your home insurance policy:
You Shouldn’t Automatically Renew
Although shopping for this kind of insurance can be a pain, it’ll be worth it. Even if you definitely got the best deal out there last time, that doesn’t mean renewing automatically will get you the best deal this time. You should always take a look around first and see what else is on offer. Your current insurer might match another offer, or you may leave them and go with another. If you look at home prices in the Halesworth area, for instance, it’s likely their insurance quotes will reflect the price. The cheaper your home, the cheaper your insurance, in general. This isn’t taking into account any expensive items you’d like covered in the home.
Don’t Forget About Excess
If you do claim on your home insurance, there will an excess that you must pay before the insurance company will pay out anything. It’s exactly the same as car insurance. If you choose a higher excess, your premiums can come down quite a bit. However, you should always be sure you can pay the excess if anything should happen.
Cover the Carpets
Many people forget to cover their carpets. This might sound silly, but carpets can be expensive! What I’m really talking about, is accidental damage. Accidents happen all the time, and although you might think you’re covered, you might not be. If that red wine stain on your carpet won’t come out, you might have to fork out the bill yourself. Even worse, if you were to spill liquid on something electrical, that won’t be covered either.
Your Protection for Specific Items May be Limited
If you have things you want to protect, like laptops and jewellery, you need to make sure you have adequate cover for them. Make sure you can claim if something happens to an item such as this when you aren’t at home. If you don’t, you won’t be able to claim.
Ensure Your Content’s Cover is Sufficient
If you need to claim on your content’s cover, you’ll need to ensure that you’ve properly estimated the value within your home. Don’t underestimate what everything is worth.
You May Not Need Building’s Insurance
If you’re renting a place out, then it’s the landlord’s responsibility to have building’s insurance.
You Should Shop Around
Your mortgage provider will likely try to get you to buy your insurance with them. However, this may not be the best deal. Shop around and make sure you’re comparing prices.
Use this information and you’ll have peace of mind when it comes to your insurance policy.