Blog written: 15/08/2024
The importance of high quality home insurance means that more ‘insurable events’ are covered.
Buildings insurance is mandatory when you are a homeowner with a mortgage. Contents insurance is optional, but essential in our opinion.
In the UK, everyone who owns a car that drives on the road has to have car insurance.
Some people pay extortionate prices for their car insurance as they see their car as ‘their pride and joy’; they choose fully comprehensive cover to ensure quality, and often have add-ons like roadside assistance and a courtesy car.
But for home insurance, most people go online and find the cheapest policy possible. Why is this?
Your HOME should be your pride and joy.
We believe that home insurance is not where you should be looking to save money.
We recommend 5* defaqto cover to ensure your biggest asset (your home) is well protected.
Most policies on comparison websites are only 2* or 3* defaqto rated. If you select the cheapest policy, then you need to be aware of the limitations and be satisfied that the cover is adequate & appropriate for your needs.
Arranging your home insurance through an adviser, like ourselves, ensures you have the right cover in place. It also reduces the risk of being under insured.
The Importance of High Quality Home Insurance: Our Top Tips:
- Check the quality of your cover: We recommend a policy with a 5* defaqto rating. Policies with lower ratings will cover less, and can have stricter terms and conditions.
- Check the price annually: We recommend comparing your renewal price each year. Don’t just blindly accept your current providers renewal price.
- Make sure you’re covered for exactly what you need: Read the quote questions very carefully and ensure you name items if needed. The policy will have valuable limits within the terms and conditions. If your item is genuinely above that limit, make sure it is named otherwise it will not be insured.
- Are your personal possessions covered when out of the home? If you would like your mobile phone, ipads, jewellery to be insured outside of the home, make sure you have added personal possessions cover. For lower value items, you can select a total cover amount by adding the value of each item together. For example if you have phone worth £900 and a watch worth £900, you will need to select at least £1,800 of cover. The policy terms and conditions will ask you to name items worth over a certain amount. If your item is genuinely above that limit, make sure it is named otherwise it will not be insured when you are outside of the home.
For more information on our home insurance offering, please contact us on 01455 63 61 63.
https://onerooffinancial.co.uk/contact/
The information contained within this blog was correct at the time of publication (15/08/2024), and is subject to change.
