"Looking at getting home insurance in the UK?"
It helps to understand that an insurance policy is not something you should count on 'getting your money back from' at some point in the future. A home insurance UK policy, like any other insurance policy, is a bet, a wager. The insurer calculates the odds of your likelihood of making a claim. If they think the odds are low enough they'll take you on. Your premium expresses the ratio of the risk involved, to the payout. You are paying for peace of mind. A man's home is his castle, but sometimes the walls are breached by human or natural agents. You shouldn't count on a payout; you should hope you never need one. Here are some tips to help you get the best deal for you: 1. Shop around. Quotes vary. Price is not the only issue. Are they a well known, reliable company? Get advice from friends, relatives and colleagues on home insurance UK.
2. If you get life and car as well as home insurance UK with the same firm, they may give you a discount.
3. Do they give new for old as standard? Will they replace the items you're claiming for with their new equivalents?
4. What is the policy excess? Offer to pay more. The excess is the amount of a claim that you pay yourself, before the home insurance UK company coughs up. You can save a lot by doing this; the greater the excess, the less your premium.
5. What cover do you get under accidental damage cover?
6. Do you have to pay an additional premium for bicycles?
7. Does it cover food in the freezer, business equipment at your home,your jewellery?
8. Are you covered on your contents if you have a burst pipe?
9. Will it cover your contents when you are abroad and are you covered for liabilities to third parties?
10. Can you get a discount by taking out both buildings and contents insurance with the same home insurance UK company?
11. Can you get a no claims discount?
12. Insurers will lower your premiums if you can install certain approved brands of security items like smoke and burglar alarms and mortice locks.
13. If you don't have a neighbourhood watch scheme, set one up. Insurance companies look favourably upon these.
14. Insure your home for the cost of rebuilding it, rather than the market value. The market value includes the land it's standing on. The rebuilding (replacement) value is much lower. This means lower premiums.
15. Review your policy regularly. If you've gotten rid of possessions covered by it, contact your insurer to update it, and hopefully lower your premiums.
16. Avoid filing small claims of under £1000. This will increase your risk to the home insurance UK company and can cause your policy not to be renewed.
|
