Home Insurance – A Sticky Subject

Insurance is a sticky subject, and something that people don’t enjoy thinking about, let alone spending money on, but it is also essential. If you don’t have house & home insurance and something goes wrong then you will find yourself faced with a huge bill and potentially no easy way of paying it.

Shopping around on house and home insurance comparison sites is a good way of finding a suitable deal so that you get the insurance that you need without paying over the odds, some things to think about include:

  • – What the insurance covers
  • – The excess
  • Renewal periods 
  • – Premiums
  • – Discounts for long term custom/having multiple policies
  • – Exclusions
  • – Cover for family members

It is not uncommon for insurance companies to offer flexible terms such as allowing a family to take out insurance, and for the home contents insurance to cover not just the items in the main family home, but also the phone, laptop, iPad, etc that a teenager takes with them to university.

Many home contents insurance companies will cover phones, cameras and other small valuables when you take them away on holiday, too, and this can be handy if you have any expensive kit or if you are worried about losing something.

When you buy a property, you are likely to be instructed to take out buildings insurance by your mortgage company. Some banks will offer their own insurance and this can be a convenient way of addressing the need, however, if you shop around on a comparison site you might find that you can get a better deal in terms of cheaper premiums for the same level of cover.

Find an Insurer You Can Trust 

While the insurance industry is quite strictly regulated, there are still a lot of online-only companies that are cropping up that are not well-known or established, and it is perfectly normal to feel wary of those companies. It is always a good idea to read lots of reviews and check how long a company has been in business before you spend money with them.

Read the terms and conditions carefully, especially when it comes to renewal and cancellation periods. One area where some companies catch people out is with renewals. They will offer an incredibly low premium for the first year but make the cancellation process quite opaque. Then, when a customer fails to cancel on time they will lock them in for another year with an auto-renewed premium at a very high price.

Reading and understanding the terms and conditions will make it easier for you to avoid such a scam because you will be able to put a note in your diary to start shopping around for a better price early so that you can change your insurance over and get a good deal. It is still always a difficult task to find a trusted insurer.

Always Tell The Truth 

As a customer, it can be tempting to ‘shop around’ by providing different details to insurance companies, and perhaps being less than truthful about your circumstances. This is fraud, and if you are caught doing it the penalties can be severe; at the very least, your policy may not pay out if it is believed that you lied when you took out the insurance.

For this reason, you should provide complete and accurate details on your application, so that you don’t have to worry about making a claim in the future. Hopefully, you will never need to make a claim, but it is worth having a good insurance policy for the peace of mind that it provides, whether that’s for going on holiday or coping with extreme weather, your home insurance has you covered.