How can you compare home insurance, if the cover offered doesn’t compare?

Whether you own, or are renting your accommodation, home insurance of some form is vital to protect your property and possessions.

Nowadays, most forms of home insurance contain two distinctly separate parts. The first of these is buildings insurance, which covers any damage that may be incurred to the structure of your property; this includes items such as your roof, brickwork and also most outbuildings you may have. The second form of insurance is contents insurance, which offers protection for your personal possessions, furniture, white goods and more.

Recent crime figures reported in the Mail Online have shown that domestic burglaries in the UK have risen by three per cent since 2008 meaning that each year in the UK there are more than a million burglaries or attempted burglaries across the country. Clearly, there is a real need for the average citizen in the UK to protect their home and possessions with a quality home insurance.

As such, a vast range of different sites that offer the consumer the chance to compare home insurance have sprung up on the Internet. These sites claim that they can compare a variety of products from different insurers in an attempt to find the UK consumer a better deal more quickly and have proven very popular with people seeking to find a quick way to find the lowest price possible.

It’s important to note though that these sites are not foolproof; for example, many only compare standard products from companies and the actual cover on offer can be very different. It’s important to note that the quality of cover afforded on these sites is something that’s not taken into consideration when the customer judges the merits of each policy.

In terms of home insurance, a good example is to look at the standard level of cover offered by your Halifax contents insurance. Most contents insurance policies will cover losses up to a certain amount as standard and this is often, mistakenly, taken as being enough to cover all the belongings of the policyholder.

Unfortunately, it’s only when the policyholder has to make a claim, they realise that the level of cover they’ve got is nowhere near sufficient to replace all of their lost or damaged belongings.

The upshot of all this is that rather than settle for a £20,000 limit on cover for your contents, you could, for a few pounds more per year (or even the same price as your existing policy) purchase a package that offers unlimited contents cover. In this case, it’s a false economy to save a couple of pounds each year to take out cover that is clearly insufficient for your needs.

It’s the same story for buildings cover. Some insurers may state they will cover costs up to a certain amount to rebuild your home from scratch. However, what if this ‘best guess’ at the overall cost of rebuilding your home is not enough? Will you have additional funds in place to make up any shortfall if the worst should happen? Or is it better to take out a policy that not only offers unlimited buildings cover as standard, but also covers additional costs like finding alternative accommodation while your home is rebuilt?

To find cheap insurance you can compare home insurance products, but it’s often not the best way to find the insurance policy that suits your specific needs and requirements. It’s always great advice to examine the finer detail of the cover offered by each policy, not just the price, to ensure that it meets your needs. The cheapest policy may not necessarily be the right one for your situation.