your home insurance bill comes up every year and it’s easy to leave it and let it roll over with an auto renew so the company can sit there with an even knowing it can take you for granted and charge you far more than if you were to search the market as a new customer so if your home insurance has just come through the door and the renewal is there what do you need to do
First of all let’s establish exactly what cover you should be getting well there’s buildings insurance and contents insurance buildings is generally only needed by those who own the freehold to a property the easiest way to think about it well here is a glass full of polos but the general rule of thumb is if you were able to turn your house upside down everything that falls its contents everything that stays is buildings now
Two quick tips about how much you should cover when it comes to buildings insurance many people over cover because they look at how much their property is worth it’s worth three hundred thousand pounds and they ensure the market value but that includes your location or you actually need to insure the buildings is the rebuild value literally how much it would cost to rebuild the property if it were knocked down that can be a lot lower which means your costs are lower
When it comes to contents thus in many people make there is to under ensure I’ll give you an example you’ve got twenty twenty-five thousand pounds worth of contents in your house sounds a lot it isn’t when you add everything up you’ve got a television that costs a thousand pounds that has a problem with it that you’re claiming on the house insurance you’ve only insured ten thousand pounds or you’re thinking I’m never gonna claim
Over ten grand that’s not a problem I’ll keep it low you go you make the claim they send round someone to examine it he says hold on you’ve ensured less than half of your contents value I’m gonna pay you out less than half of the televisions value they pay you pro rata compared to the actual amount you’ve insured so under insuring can mean you get paid less on plate
first of all go to a comparison site but not just one comparison site combine them different sites search different insurers to give you the wider spread in the shortest amount of time you want to use two or three what I would do is I’ve open all the windows at once and then cut and paste your answers across from them to see who’s going to come out cheapest but always check for assumptions at the end once you’ve done
That what you need to do is check the big insurers that comparison sites don’t include specifically Aviva and direct line once you’ve done that double check the policies truly suitable for you don’t just go on price make sure the quality adds up a final note on this comparison sites are great for people with normal circumstances but if you have counter normal circumstances you have a flood issue or something different about you or your house you’re
Probably better than going to a broker for a one-on-one bespoke consultation if you’re happy with your existing insurer once you know the cheapest price from elsewhere why not take it to them and see if they’ll price match it they can and will do you’ll tend to find many insurance companies when you call them up their staff are allowed to drop by a certain amount if you ask them so ask them then there’s also the option of going to get your insurance at very cash
Back site now many people do this the wrong way around I’m talking the likes of top cashback or quit Co they go there first to see who’ll give the biggest cashback that doesn’t work find who your cheapest insurer is or perhaps your cheapest three insurers and then see how much cash back you can get see the cashback as an additional bonus if you get it not as the core but when you bring this all together and it works well the cheapest result I’ve ever had
On a home insurance from someone following my full system which you can get at money-saving expert comm forward slash home insurance is to be paid to get their home insurance it was roughly that their insurance was 60 pounds and they got a hundred pound cash back in other words they were up forty quid for getting home insurance not everyone’s going to be able to do that but if you really nail this down home insurance can actually make you look perfect on Occasion you
