Why having the right home insurance is so important
For most people, their home is their most valuable asset – so it’s surprising that so few people spend time getting home insurance quotes when it’s time to renew. Homes not only provide shelter and a comfortable place to live, they can also help build long-term financial security.
People with mortgages usually aim to pay them off by the time they retire, meaning they have one less financial responsibility to consider at a time when their income is likely to change.
So if you think of your home as giving you financial security in this way, and not just as providing a place to live, it makes it doubly important to get buildings or house insurance quotes when your policy is up for renewal. That way you can make sure your property is covered and that you get the best deal you can.
The right insurance for you
When looking into insurance for your home, make sure you also consider contents insurance UK insurance providers often offer this as a standalone policy so that you can cover just your household contents and possessions – and cover the actual structure of your home separately. This can be useful in certain circumstances – such as if you rent a property or if you own a flat or apartment. In the second example, the building itself might be covered by a policy paid though a management company. In that case, all you would really need is cover for your possessions.
The other consideration is buildings insurance, to cover the building itself. It’s well worth getting a few buildings insurance quotes because the price can vary depending on a range of factors, including the size of your property and your postcode.
Remember, you can also get buildings and contents insurance where it has been rolled into a single package, which might be the best option for you. The important thing is always to understand how much cover you need for your circumstances – then shop around for the best deal.
And of course, with so much invested in your home, it’s vital to make sure you never leave yourself exposed by having a gap in your insurance at any time.