Bingley Antiques - Near Haworth, West Yorkshire - Phone: (0044) (0)7805 475221
When was the last times you switched your home insurance? Most people tend to stay with the same home insurance policy for years on end because the hassle and palaver involved with changing from one provider to another erodes any benefits of updating to a new policy.
This year, with the continuation of a lacklustre economy, one in 12 Britons are not even planning on renewing their home insurance. But no matter how tough the times, the path of no insurance is a slippery one. In fact, it is precisely in times such as these that we need insurance, as we certainly don’t have any money to spare if something does go wrong.
The trick is to be savvy and play the market, making the most of all the lucrative introductory deals available. Before entering into a new insurance deal, make sure you know what to expect.
Know your facts
Do you know the rebuild cost of your home? When taking out buildings insurance most companies will estimate this value, but if you have made specific changes and upgrades the estimate might not be accurate. Ask for advice from your local property surveyor’s office.
Likewise, make use of contents calculators. These online tools can work out the value of all your non-fixed possessions so you can get an accurate estimate for your contents cover. For specialist items such as art and antiques get an official valuation, as individual items of a large value will need to named separately on your policy.
What exactly is covered?
Most insurance companies will try to up-sell you other types of insurance products whilst they have you on the phone or your eyeballs focused on their website. But remember, many home insurance policies include cover for items outside the home and some even cover you for goods when you’re abroad. It’s always worth asking exactly what is and isn’t covered.
What can be covered?
Home insurance is modernising. You can now get freezer and garden contents cover, emergency services damage, home emergency cover, water leaks and legal cover. Many of these are now included in the more comprehensive policies but there are others that are not that are worth having. Research the market and find out what added extras are offered by each insurer. These extras could make or break a deal.
Legal and General home insurance includes high-risk item cover of up to 33% of the contents sum assured. That should cover your special antiques and most treasured and valuable possessions.
