In the age of austerity we are all looking for the best prices for the integral things that we need in life and our home insurance should be treated in exactly the same way. Home insurance is a necessity; if you chose to go without it and the worst happens to your home and contents it is you who will be liable for the cost. This doesn’t mean however, that you should simply go for the first offer of coverage, which will often be from your mortgage provider. In essence, you should only be paying for what you need to cover rather than a blanket amount that is not directly tailored for your needs.
Here are some of the best tips for making sure you get the right insurance quote for you and your family.
Know Exactly what Coverage You Need
Many people will simply get their home insurance when they buy their home and then forget all about it. While this does offer you some coverage, it may not be adequate enough in case of an emergency. One common mistake is to only take out home insurance that covers your mortgage. Whilst this does mean that you can be secure with your mortgage company if your home was destroyed, you will have no insurance left to cover a rebuild. So, you should also get an estimate that covers the total amount of a rebuild.Secondly, you need to receive both buildings and contents insurance quotes to have your material possessions be covered. Equally as important as your home insurance, knowing what you want to cover is imperative to getting the right quote.
Finally, you need to consider what could happen to your home. For example, if you live on a flood plain or an area known for forest fires, then you will need to consider extra coverage for this eventuality. This can also include crime rates for your local area in terms of burglary. It may not be nice to think about, but if you don’t and the worst happened you would have to pay for repairs etc.
Look for hidden extras
If you have already gotten quotes through for your home insurance or you are carefully going through your current policy, then have a look to see if you are paying extra for cover you simply don’t need. Some insurance companies add on cover for the contents of your freezer, or for push bikes, neither of which are needed if you don’t want them to be. This is a simply way to cut down the total amount of insurance and also lower your premium.
This can also be a great way to see if you do in fact need extra add-on insurance. There are many forms to consider from fire cover to insuring your beloved electronics.
Get a variety of quotes for exactly the same things
The best way to ensure that you get the best value coverage is to do your research. Many companies, such as Swiftcover, will be happy to talk you through the ins and outs of their policies and give you quotes. Staying with the same insurance provider for a continued period of time without contacting them regarding your current policy is never wise as you could effectively be paying over the necessary amount. If you do want to stick with your current provider, then it is always worth contacting them to see if they will price-match competitor’s quote.
Home insurance is one of the most important forms of insurance and although finances are tighter than ever at present, you must make sure that you and your family are secure for the future.
