Hundreds of holiday home owners type in the phrase ‘best holiday home insurance’ into search engines each month. The search engine results lead potential policy holders to click through onto insurers websites. Yet, will they necessarily find the ‘best’ holiday home insurance deal that meets their insurance needs? In the context of the insurance world, does the word ‘best’ necessarily mean the most most suitable, appropriate or cheapest holiday home insurance?.
As the property market has stalled, and reinsurance costs have risen, many more policyholders are shopping around using the Internet to find the best deal they can. The general increase in insurance premiums comes at a time when many squeezed holiday home owners are seeking to reduce their ongoing overheads for maintaining a second home or a holiday letting. However, most consumers are genuinely price sensitive and dislike rising insurance costs. Yet as no two holiday home insurance policies are quite the same, finding the best policy that meets their individual insurance can sometimes play second fiddle to cost.
Like many other financial products and services which can be quoted upon and purchased immediately online, holiday home insurance products are heavily advertised on the basis of the best price available. Despite the fact that there are fewer insurers providing this specialist type of insurance, (when compared to standard buildings and contents insurers), the general advertising mentality tends to revolve around the best financial deal for the holiday home owner.
If you are trying to compare a range of holiday home insurance policies, you may detect that many policy wordings have a similar range of perils. Which policy is ‘best’ largely depends on the interpretation of the consumer and their buying priorities. For example, some consumers may consider that insurance companies that provide excellent customer service and a superior claims procedure, are the best to deal with. Others may simply consider the best policy for them to mean the cheapest quote they find, without paying much attention to the small print of the key facts document or the policy wording. Yet for most policyholders, finding the best insurance policy may depend upon which policy wording contract most closely matches their buying criteria. In such a competitive price driven and price matching market, one of the key differentiators maybe the levels of cover, size of the excess or scope of the warranties and conditions.