Home Insurance Review

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Money Saving Tips

7. Review your home insurance, both in terms of price and level of cover. Properly maintaining your buildings and contents insurance is a vital element of maintaining a stable financial environment in the home, as if you are not adequately covered, an unsatisfactory claim could wreak havoc amongst even the most balanced accounts.

Examine when you last altered your home insurance, (especially contents) and become fully familiar with the ins and outs of the policy. Double check the level of cover you have and any exclusions. Next you should make a list of all items you have purchased since this time, and compare it with how much you are entitled to in the event of a claim. It may be that the value of new purchases or newly acquired items of value may have pushed all your contents over the level of cover you have.

If there is a shortfall, requesting an increase in the level of cover is advisable immediately. Also, on the topic of items of value, it is vital to declare all items of high value to your insurer, so ensure that this is done also. Another area worth investigation is the cost of your current insurance. Those who have their contents policy with one insurer and their buildings with another may find it cheaper to amalgamate the two, as with many companies, discounts are applicable in this case.

Also, for those who like to shop around, many companies offer various add-ons with their insurance, which may be worthy of examination before selecting their insurer.

 

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