Home Insurance Review

Home insurance is possibly one of the most important insurance policies you will take out. As they say “a man’s home is his castle”. If you are not insured when it comes to your home, this can potentially be a complete disaster for you and in some extreme cases can even bankrupt you! You don’t need to end up in a situation like this, just make sure that you get a decent home insurance policy that will protect you, your family, your belongings and your house from anything that might go wrong.

How to Start Looking for a Home Insurance Policy

One way in which you can start looking for a home insurance policy is when you either take out a mortgage or buy a property outright; take the advice of the mortgage lender or the estate agent you have made your purchase with. These companies often have systems in place that mean that they receive a commission for inviting you to take a home insurance policy with certain companies. Of course, with mortgage lenders, it is in their interest to make sure that you have the correct home insurance policy in place, remember, they have a vested interest in your home too.

The other way you can set about looking for a home insurance policy is to turn to the internet, there are many price comparison websites you can use to get the best price possible for your home insurance policy, you will also find that on some of these websites you can enter any special requirements you might have when it comes to insuring your home. Do however, make sure that you don’t stop there with your research, there are a lot of companies that do not use price comparison websites and you might be able to better the price you have already found.

Some of the Best Companies that Offer Home Insurance

Direct Line – This Company will not be found on price comparison websites and they are proud of that fact. They have a wide range of home insurance policies that will suit just about everyone. As standard, Direct Line offers the following with their home insurance policies:

  • Contents cover up to £50,000.
  • Personal possessions insurance up to £50,000.

Direct line offer 2 types of home insurance plans, home insurance and home insurance plus. Between them Direct Line offers the following:

  • Buildings cover.
  • Alternative accommodation.
  • Accidental Damage.
  • Family Legal Protection.
  • Home Emergency cover.
  • Cycle Cover.
  • Online and identity fraud (this is really useful to have these days, we all use the internet for shopping or online banking to a certain degree and theft of your identity is big business).

All in all, the home insurance you will get with this company will cover just about anything you need.

More Than – This company has some really comprehensive home insurance policies available and at great rates. They promise to beat any quote that you may have when it is time for you to renew your home insurance policy, however, do not compromise on service. One of the first things you are faced with when looking at their website is the fact that they will offer you a saving of around £130 on your contents insurance. There are many benefits that come with More Than and their home insurance policies, here are some of them:

  • They pay for replacement keys and locks on your home if they are lost or stolen.
  • Garden cover (I think this a great idea), this is available as standard and will cover your plants and trees to the value of £2,000. You will also benefit from cover on your garden furniture, kids toys and your barbeque.
  • Have you ever tried calling up an insurance company either to make a claim or find our more about the service they offer? If the answer is yes then, like me, you are more than likely fed up with not getting the same person twice. More Than will allocate a dedicated manager to your account, another great idea. At last, a company that recognises the fact us, the public and their customers need some continuity when dealing with them.

You should also know that his company has been awarded the best online contents and home insurance award for the last 2 years on the trot. Another plus when you are looking for a home insurance company you can trust.

You may not know but many banks have now started to offer home insurance in the UK, so whoever you bank with, it might be worth asking the question.

Above are just a couple of examples that I thought you should know about when it comes to home insurance, in my opinion the 2 that I have mentioned are the best on the market at the moment.

What Do I Do if I have a Specialist Item in my Home that needs to be insured?

That’s an easy one, tonnes of home insurance companies recognise that you may have belongings that are very dear to you but are not the run of the mill objects. Maybe you have a Grand Piano that has been passed down through the generations or you might have a grandfather clock that dates back to the 1700’s. All you have to do is make sure that the home insurance policy that you take out will cover these items. In some cases (depending on the value of the item in question) you may be asked to take out a separate policy for this item on it’s own as it will be treated differently to anything else you have covered on your standard home insurance policy.

What do I do if I live in a Flood Alert Area?

This is a question that sits on many peoples lips these days. In recent years the UK has suffered some of the worst flooding in decades. Initially, home insurance companies reacted with panic as they suddenly had hundreds more people claiming for water damage in their homes. Things, thankfully, have now settled down a little bit and the powers that be within home insurance companies have had time to re-evaluate how they treat this sort of problem. In the beginning it was very difficult to get home insurance (if you could even get insured at all) however, there are now policies available that will protect your home and it’s belongings from water damage. Make sure that whoever you decide to take your home insurance policy out with does in fact cover water damage or flooding.

A Couple of Pitfalls to Look Out For

One potential pitfall you can come across when taking out a new home insurance policy are clauses that are included in the contract that may not be clear to you. For instance, there have been many times when people have put in a claim because that 100 year old oak tree came crashing through the roof of their house due to an unexpected storm. When making the claim, they are told that “sorry, we cannot pay out as this was an act of God”. Not very fair is it, how are you supposed to know what is considered to be a “hand of God” and what isn’t. After all, that’s what Maradona refers to his hand as and I bet he hasn’t had any trouble getting insurance!

Make sure that you check with your chosen home insurance company what they consider to be this type of incident and what they will not cover. It’s just as important to know what the insurance company will NOT pay for as it is to know what they will pay for.

In Conclusion

Finding home insurance does not have to be a major headache, as mentioned there a loads of home insurance companies to choose from but as I have already said, price comparison websites can help take some of the hassle out of finding the right company. Also, try talking to your friends or even ask at work which company the business you work for has their insurance with. The chances are that whoever they use will offer home insurance as well.

Above all, make sure you have ALL of the cover you need when it comes to home insurance, it’s relatively cheap to obtain a decent policy these days. Home insurance is a very competitive market place and that can only be good for us consumers. In my opinion, take more cover than you are ever likely to need, that way you are covered for just about any eventuality.

If you have read this far and still think that home insurance is bottom of the list when ensuring that you are protected from any accidents that may occur in the home, think again. Even something as small as a leaking pipe can cause and inordinate amount of damage in the home and the last thing you need is to have to pay for your own repairs.

advert image