Owning your home is a great feeling. Not only do you feel established and secure, but you’re also ready to make personal changes and settle into your very own place. Before you get too comfortable, it’s important to take the necessary steps to look after your home and possessions. Apart from keeping everything in check and organised, you will need to get insurance for your house if you’re a homeowner. Here are four key points on how you can be sure to get the most for your money when it comes to insuring your home.
Reduce Your Risk
Insurance companies decide on the cost of insurance or whether they will insure you at all by counting up ‘risk factors’ i.e. how likely you are to make a claim and how large it will be. These risk factors are based on your occupation, how you live and what you own. You can make active changes to counter-act risk factors such as increasing the security of your home by installing alarms and locks. However there are some factors that you can’t change, such as your postcode, which means that your insurance may be higher if your house is situated in a high-risk area.
Assess Your Value
It is often a good idea to buy building and contents insurance together as companies may give a discount if you use them for both. It also makes more sense for risks such as fires and floods as both the building and its contents will need to be replaced. This is why it is important to get an estimate value for your building at least from a local builder so that you have an idea on what kind of policy you will need.
Compare, Compare, Compare
Insurance companies will try to offer you the best deal but remember that you are the one with the power. Use a couple of clever comparison websites as well as banks and insurance brokers. You might also want to look into specialist insurance from reputable companies such as Click4Quote if you have more specific needs. Be sure to check a company’s reviews, reliability and track record before you shortlist them for a policy and ask for discounts on no-claims bonuses or risk-factor reduction rewards.
Whether you’re a landlord with a buy-to-let property or a homeowner looking to insure your primary house, it’s important to get the best deal on insurance to save you money and stress when things go wrong. Shop around for the best deal and spend some time comparing different sources and you’ll be sure to find the perfect quote for you.