Looking for a home insurance that covers not only the value of the building but also the contents is a challenging task. Until online price comparison sites started offering online quotes, people spent hours trying to find the right cover at the lowest price. Today, all they need to compare buildings and contents insurance is to find a reliable site that has plenty of companies’ real time prices and getting several quotes. However, not every home buildings and contents insurance is created equal, and it is important that customers check more than just the price.
Aggregate websites are all about the price, they are arguably on the low road to ruin with companies going to extra lengths to reduce the cost of their cover hoping to grab a share of the price driven market. How do these companies do this? Do they simply reduce margins and potentially compromise the quality of cover by stripping back the policy to the bear minimums? Do they increase the excess you need to pay on your claim? Or perhaps tighten criteria on what constitutes a valid claim?
Price is not the only aspect customers should consider when buying home buildings and contents insurance. They should check if they are dealing with a reputable provider. Defaqto guide provides a very good comparison of the quality of cover with ratings up to 5 star (being the best). You need to check how easy making an insurance claim with the firm is and what other customers say about customer service. While nobody likes thinking about having to make a claim on their home insurance, when it happens, they would like to deal with professional claims assistants who have relevant experience and skills to handle the issue effectively and fast, so customers do not have to wait for months before they get the money. Insurance can be viewed as in effect “paying for a claims process upfront” because that is was you are essentially doing.
Some insurance firms have complementary services included in the price, such as a free replacement of electrical items or home emergency services. Knowing about these offers may help you make an informed decision about which company to go with.
Many companies offer a discount when customers buy home buildings and contents insurance at the same time. This discount can make up for the price difference between competitors, and you should take advantage of the deal.
A good thought to have around home insurance is finding a policy that provides the highest potential protection for the lowest price. Further, this doesn’t always mean cheapest is best.