With inflation rising and the cost of gas and energy prices increasing, there’s never been a better time to see if you could save yourself some cash on your bills. Could your home insurance be the place to start?
Buying a home is one of life’s biggest expenses. So it’s important to make sure you protect it, should the worst happen. You can do that in a number of ways through Buildings Insurance, Contents Insurance and/or Landlords Insurance.
To help make sure you’re getting the most from your policy, Jo Jingree, Mortgage Confidence’s mortgage adviser, has shared some tips.
Understand the type of insurance you need
Jo says: “Buildings insurance covers the cost of rebuilding your home. While contents insurance covers the possessions inside it. There are also several add-on insurances to consider like legal, personal possessions and home emergency cover. The latter will cover you if your boiler broke, or if you are burgled and need a locksmith.”
Understand the types of insurance you don’t need
“Most homeowners who own a house need building and contents insurance,” Jo says.
“However, if you own a leasehold flat you might not need buildings insurance, as sometimes this is covered by the freeholder.”
Get the level of insurance right
“There are different levels of insurance,” Jo tells us. “For buildings insurance, at Mortgage Confidence we offer policy covers of £500,000 or £1m. When it comes to contents insurance, we offer cover of £50,000 and £75,000.
“If you’re unsure how much it would cost to replace your contents, I would always encourage people to overestimate, rather than underestimate. Being under insured could lead to the insurer not paying out the full amount. Afterall, there’s no point in paying for something that’s not meeting your needs.
Buy insurance you can trust
“Not all insurance is equal,” Jo says. “All of the insurance we offer here at Mortgage Confidence is five-star Defaqto-rated, meaning it’s cover you can count on. Plus, the insurance policies are through PaymentShield, which is one of the UK’s leading insurance administrators and distributors.”
Call in the professionals
“It’s no secret, buildings and contents insurance can easily be bought online, via price comparison websites,” Jo notes. “And we don’t attempt to compete with these because we believe any type of insurance warrants professional in-person advice.
“We’ve had a situation before where a homeowner shopped online and was under insured as their sum they were insured for wouldn’t have covered the cost of rebuilding their home. It’s situations like this that highlight how key it is to get your insurance right.”
We can cover you
If you’re after home insurance, don’t hesitate to get in touch. At Mortgage Confidence we talk you through everything to ensure you get the right level of cover within your budget. We provide an array of options to make sure that you are comparing like with like when it comes to quotes.
Comprehensive cover does not automatically mean expensive. But there is a comfort in knowing that should you need to claim, you have the right policy to ensure your home and your worldly possessions are protected. That’s a price worth paying!