We have put together a quick guide on some basic pointers to look out for when shopping for the right policy at the best price.
If you would like to speak to an expert, get in touch with a Linear Insurance Adviser as they can source across a range of insurers and provide no-obligation advice on the best policy to meet your needs.
If you just buy on price – it is likely to be at the expense of the quality of cover provided
Using comparison sites can seem like a great way to find the cheapest insurance, but it is too easy to end up with insufficient cover. This can end up being much more costly when you need to make a claim.
If your insurance is up for renewal, don’t simply shop around online for a cheaper quote. Moving to a new provider at a cheaper cost may seem attractive, but you may end up with inferior cover without realising it until it’s too late.
A Linear Insurance Adviser will take the time to explain the differences and compromises that make some insurance policies seem attractively cheap upfront, and horrendously expensive when it comes to making a claim.
Check the policy excesses carefully
When searching on price, be mindful to check whether the insurers have inflated the policy excesses in order to bring down the cost of the premiums. Excesses are the amounts you have to meet towards your losses in the event of a claim – and policies typically have variable excesses for different types of claim. If your excesses are high, the price of your “low cost cover” will be reflected in the amount(s) you can effectively claim for should you suffer a loss.
Don’t be blinkered towards lower premiums without considering whether the excesses are amounts that you are comfortable with covering from your own pocket.
Check if your policy covers pipe leaks and sewage blockage
If not covered, this can be a real headache to homeowners when they need to make a claim that is related to this cause. Check if your policy covers “trace and access” to find and repair the source of a pipe leak. Likewise, check to see if you are covered for blockage of sewer pipes.
Check your policy is not set to auto-renew
If your policy has any element of auto-renewal you could end up paying too much. While it may be the easy option just to “do nothing” and let a home insurance policy renew, it is better to review these annually for a couple of reasons.
Firstly, you may find a better quote for the same cover than your current insurer’s renewal… so you can get on the phone and ask them to beat or match it to save you switching policies!
Secondly, and often overlooked, your cover needs may well have changed since you took your policy out, such as purchasing something valuable that needs insuring.
The best option is to enlist the help of a Linear Insurance Adviser who will review your insurance with you every year and make sure you are always getting the best price for the cover you need.