Home Insurance Comparison Made Easy!
Why do I need Home/Contents Insurance?
Home Insurance covers not just your house but can also cover your household contents. Everyone’s worst nightmare is to rock up at home and half of your stuff has been burnt to a crisp because you left the stove or hair straightener on! When you leave home there’s often that moment that most of us have… “Did I switch the oven off?”. Even though, we wish that nothing bad happens to your home, it pays to be prepared at all times. Home Insurance can be affordable when you compare. Here’s a quick tip: If you combine your car insurance and home insurance policies you can get a rather hefty discount from the provider.
MoneyPanda works with the top home insurance providers in the industry, therefore we are able to quote you on a fair and reasonable price. This 2-minute form could save you big bucks in the long run.
Still not sure if you need Home Insurance? Let’s give you some more insight
This Is Your Beginners guide to Home Insurance
It may seem like a lot at first but with this beginners’ guide it will all make a lot more sense very soon. Make sure you compare using the form above, you want to make sure you get the best Home Insurance quote.
Key points to consider:
• Decide if you need building cover, just content cover or do you need both?
• Consider extra cover, such as covering your goods when you are away from home, yes this can also fall under home/contents insurance such as handbag cover.
• When you receive your policy, read it carefully to make sure you and your provider are on the same page when it comes to your cover.
Let’s break it down…
Home Insurance can be broken down into 2 types of policies, namely buildings and content insurance which you can purchase individually or as 1 combined policy.
Building Insurance Explained
Buildings Insurance covers your physical property and your fitting and permanent fixtures for example your kitchen oven or toilet. There are also policies that you can take out that cover those “outbuildings” such as a Wendy house or shed. If you are renting a house or apartment you generally expect the landlord to take care of the Buildings Insurance and you are generally responsible for your own Contents Insurance. Make sure you check with your landlord to see if he has taken care of the Buildings Insurance part.
Buildings Insurance usually provides you cover against damages caused by things such as floods, fires, theft, storms or actual malicious damage.
When you take out a mortgage the lender may offer you a quote for Buildings Insurance but please remember you don’t have to accept this price. You can shop around and compare Home Insurance instead of just accepting the first quote you are offered.
Contents Insurance Explained
Contents Insurance in simple terms means covering your possessions that you value so dearly and sit within your home. This typically includes things such as:
• Household goods
• TV sets and electrical items
• Personal items and your valuables
• Furniture… and the list goes on
Contents Insurance policies generally give you cover against theft, fire, accidental damage, water leaks, explosions or vandalism.
Some Contents Insurance even cover the cost of lock replacements if your keys are stolen but make sure you check the cost of your excess first because its might actually be more expensive than replacing the locks yourself.
When you get cover for home contents, you will be asked to give an estimate of the value of your homes contents for this you can use a contents calculator or you can simply make a list of all the contents you would like to include in your home insurance cover.
Contents covered outside the house
You can get a policy that covers items that you take outside of the house, this can include things such as jewelry, cell phone, bikes, handbags, any gadget etc.
You decide on the amount of home insurance cover you would like but it’s also a good idea to make sure you check the policy document given to you by your insurance provider to ensure you are happy.
Excesses (we all hate this word)
Simply put and excess is the monetary contribution you need to pay towards a claim
Let’s breakdown 2 types of excesses, compulsory and voluntary excess
Compulsory excess is that dreaded amount you have to pay towards a claim made when you want the provider to pay for an event
Voluntary excess is the amount you agree to pay that’s is on top of your compulsory excess. The higher your voluntary excess is the lower your premium will likely be.