Comparing Home Insurance ~ Don’t Just Look At the Price
The rise of price comparison sites has completely revolutionised the insurance industry. Gone are the days of ringing around every single insurance provider desperately seeking the best quote. What I like even more about price comparison sites is that you can not only find the best home insurance prices on the market but you can also compare the features of those policies, helping you to make a more informed decision.
Although comparison sites offer the opportunity to compare the features of insurance policies, I think many people are still in the habit of simply going for the cheapest price only to regret the decision when they actually come to make a claim. Here are some extra features you should be sure to compare when getting a quote for home insurance.
When you’re filling out your details to compare home insurance quotes you will often be asked to enter your voluntary excess, usually from nought to £250. You may or may not know that many insurance providers place a compulsory excess on top of your selected voluntary excess. If applied these compulsory excesses can range from £50 to £250. If you’ve attempted to lower your premiums by increasing your voluntary excess you might quickly find yourself with a £500 excess, which a lot of people may feel to be too high.
What Are You Covered For?
Many comparison sites allow you to compare 3 or 4 of the best quotes in more detail. These detailed comparisons can be a great way for you to see exactly what each home insurance policy covers. This list may include details such as cover for locks and keys, cash, credit cards, frozen food; items in the garage, items lost or damaged away from home and the list goes on. Some insurance quotes may not provide cover for specific items such as these or the level of cover may differ greatly between each policy.
Legal & Home Emergency Cover
Some home insurance policies include extras like legal and home emergency cover as standard whereas others will charge extra for these features. So if one policy is £10 cheaper than another but you’re being charged £21.99 for the legal cover on the policy, you may find that a policy with free legal cover as standard actually works out cheaper.
Price Including Interest
If you pay for your home insurance on a monthly basis then it’s important to look at the price you are paying for the policy after any interest has been applied. The interest rate charged on home insurance policies paid for in instalments can differ from company to company. This means that the cheapest annual home insurance quote may not work out to be the cheapest quote if you’re paying for the insurance in instalments.
This list outlines just a few of the features a home insurance comparison site will allow you to compare. If you take just a little time to compare the details of each policy you should not only end up with a great price but also a great policy that fits all of your needs.