It’s important to ensure you put the right insurance in place to protect your home, it’s contents and your overall financial security.
Your home is more than just bricks and mortar. It’s the result of years of hard work; a place where memories are created, and a home for valued and treasured possessions. Making sure you have the right insurance for your home could provide real peace of mind.
Choosing a Home Insurance policy
Every household is unique, and what benefits your neighbour may not necessarily benefit you. Here are some key points to consider when choosing a policy:
It might not pay to save
Many insurance companies promote their Home Insurance products based on price. While it might be tempting to go with the cheapest premium you can find, it may not actually provide the right level of cover for you and could include hidden excesses. Insufficient cover could leave you significantly out of pocket when you need to make a claim.
How to measure quality of cover
Just like the hotel industry, many Home Insurance policies are star-rated based on the quality of cover provided. This star system is operated by independent research firm Defaqto.
One or two-star products will offer simple, basic cover. A four or five-star product will deliver higher levels of cover, with additional benefits.
While the internet may seem a quick and easy way to arrange Home Insurance, be careful. Many websites apply default settings to generate the cheapest quotes. However, these default settings may not be right for you and the level of cover you need.
Making sure you have the right insurance for your home could provide real peace of mind.
Payment Protection Insurance also called Short Term Income Protection Insurance can provide a monthly income to help cover your regular outgoings if you can’t work due to an accident, illness/injury or, often as an optional extra, unemployment.
MPPI product is called MortgageProtector and is designed for new mortgage borrowers. Mortgage Protector helps you to continue to meet your mortgage payments, in the event of involuntary redundancy, when you have to register as a carer for an immediate family member, an accident or sickness (disability) that prevents you from working.
Landlords Insurance product provides you with peace of mind by protecting property and contents from damage or loss whilst also protecting your legal liabilities as a property owner.