Time to review your home insurance?

Posted on: March 18, 2021

If you are already a homeowner, you know that it is a standard condition of your mortgage that you have buildings insurance in place for your home; and along with contents insurance, covering your personal possessions, in case something is broken, damaged beyond repair or stolen from your home or garden, it really does bring you peace of mind. 

We often don’t think about our Home Insurance (Buildings and Contents cover) until the time comes to move to a new home or our mortgage term ends. A rolling contract can be convenient, but is it the most suitable for your individual needs? 

To ensure that you are getting the most suitable cover to insure your most important asset; your home and everything in it, you can review your insurance at any point during your term. You do not have to wait until your policy is ending. If you exit your policy part way through, you may actually be able to get a refund.

Over recent years, the Home Insurance proposition that providers offer, has changed so much. Parts of the package once considered expensive optional extras are now, for many providers, standard parts of their cover. For many, home emergency cover, family legal protection and alternative accommodation are now included at no extra cost.

The optional extras have changed too of course, offering more flexibility in the level of cover, and offering cover perhaps not common in years past, for example bike cover, accidental damage, away from home cover – including your handbag (the contents of which are said to average £1,185), your mobile phone, tablet etc – and extending this to anywhere in the world.

Your Buildings and Contents Insurance should be integral to your financial plan. It should allow you the peace of mind that if, a disaster was to happen, you would soon be back in the same financial position as you were, immediately before the loss occurred. It definitely shouldn’t be an after-thought, or something hastily renewed. There is so much more on offer and so many more options to consider.

Ready to review… click here

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