Home Insurance - buyer's guide
Top tips to find the right home insurance
Choosing the right home insurance means you won’t be left out of pocket if you’re burgled, or if your house and possessions are damaged by a flood, fire, or other misfortune. There’s plenty you can do to bring down the cost of your buildings and contents policies though – just follow our top tips.
- Insurers rarely reward loyalty, so shop around to see if you can get a better deal instead of simply letting your policy auto-renew.
- Don’t overestimate your rebuild cost. When you get a buildings insurance quote, you’ll be asked for the ‘rebuild value’ of your home. This isn’t the market value and can often be a lot lower. You can find your rebuild value on your homebuyer’s survey if it was recent, or use an online rebuild value calculator.
- Renters and flat owners usually only need contents insurance, as the buildings insurance is the responsibility of the landlord or management company.
- You might find you get a discount for buying building and contents insurance together from the same provider. You may also be able to find a cheaper deal by buying online and paying for your policy up-front, rather than in instalments.
- Taking optional extras like accidental damage insurance or cover for personal possessions away from home usually costs more. Make sure you actually need this cover and will meet the terms of it before including it.
- Improve your security. Many insurers offer a discount on premiums if you have extra security like a burglar alarm, security lights or CCTV system.
- Joining an active Neighbourhood Watch scheme will also earn you a discount with some insurers.
- Avoid doubling up on insurance, for instance paying separately for mobile phone cover when it’d be included in personal possessions cover you have with your home insurance.
- Choose a trusted insurer – check our Customer Services Awards for the five most trusted providers.
- If you run your own business from your property, make sure you choose a policy that covers you for working from home or you could invalidate your cover.
- Think about what cover you really need, including extra contents cover around Christmas time, insurance for items in your shed and cover for offspring living away from home at university.
- Above all, compare prices to get all the home insurance features you need for a great price.
*Based on Gocompare.com data: 25% of customers who provided their building and contents insurance renewal price saved up to £136.44 with Gocompare.com (1st January - 31st March)