Home Insurance Options To Consider Now

The main point of having home insurance is to protect what is probably you’re most valuable possession. Generally, most people are not aware of the options they have when it comes to home insurance. There are certain things that you need to understand about home insurance before making any major decision.  Here are some tips from https://money-mate.co.uk that you need to consider when researching which options are best for you.

Where can you find the best home insurance cover deals?

Insurance Brokers 

A broker may help you find the correct policy at a great cost. In case you need to find a non-standard home insurance, brokers can do all the work for you. They can actually find a policy that suits your interests and needs. Additionally, they can even act for you in case you need to make a claim.

Comparison Sites

Most people use online comparison sites to search for the cheapest home insurance quotes in the market. You can use at the very least two sites that will help you see many options. However, you should note that every site has its own advantages and disadvantages. 

Insurance Companies

Some insurance firms do not appear on comparison sites. You may find that these other insurance companies have the best offers at a cheaper rate. Always do extensive research and avoid making hasty decisions. Shop around and make sure you get the best deals available instead of choosing one right away.

Mortgage Provider

Your mortgage provider may offer you a building and contents insurance policy while you are taking out a mortgage. Remember to shop around for the best deal possible.

How to minimize the price of home insurance

Maximize Security Efforts – Joining your local neighborhood watch or installing security lights may just get you a reduction. Some insurers will only approve insurance if you have tight security such as locks on all doors and windows. Moreover, installing approved models of security alarms could earn you up to 7.0% discount on your premiums. 

Purchase Buildings and Contents Insurance at the same time – You may get a discount if you purchase both insurance from the same insurance company. It may also be very convenient in case of a fire or an accident that affects both the building and your assets if they are controlled by the same firm. 

Make Annual Payments – It has been proven that monthly payments cost more. Some insurers will accept installments for no additional costs. 

Can You Cancel your Home Insurance?

Yes it is possible. You can cancel your home insurance cover within the first 14 days of application. However there may be a penalty. Many people are not aware of this when they are purchasing insurance. Most insurance companies charge a fee for any cancellation within the 14 days. This fee only stands for the service that you received. Additionally, they withdraw the days of cover you already had prior to giving you a refund. 

CONCLUSION: The terms and conditions of cancellation vary. Make sure you thoroughly read and understand the terms and conditions of your policy before buying. Also, if you happen to live in a high claim area (at a higher risk of theft, earthquakes etc.), you will incur higher premiums. Unfortunately there is nothing you can do to minimize your premiums. 

Note that, if you give false information when buying the policy, any claim you make may not be credible.