According to a report in the Daily Mirror, as many as one in four households have no home insurance in place and as many as 75% who have taken out home insurance do not have their insurance arranged on the correct basis. Worrying figures indeed. There is perhaps amongst homeowners a “relaxed” attitude to home insurance. It’s a product that’s often not purchased out of choice (as in the case of a mortgage lender requiring buildings Insurance and many people simply cannot see the advantage of having cover in the first place.
As with Captain Smith on the Titanic, someone who has never encountered a problem before could perhaps be forgiven for thinking; it’ll never happen to me. It’s all too easy to turn a blind eye to the potential for a ruinous incident to occur and many people are often astounded when they discover the potential costs involved.
Alas, nowadays with changing weather patterns, losses are occurring where perhaps they have never been encountered before, more and more homeowners are at threat.
In my view, home insurance is an absolute necessity, there is no way I would not buy protection, for years I have paid mine on a direct debit and it becomes part of the household monthly budget. As I look down the list of monthly out goings, the home and car insurance are probably the two most important items, both are protecting me against something that hopefully won’t happen but as someone that many years ago suffered a very large loss, I know, I cannot afford to be without them.
Purchasing home insurance is important but that simply isn’t enough, time has to be spent making sure that the cover is adequate for your needs. Having a policy with a sum insured that doesn’t reflect the true rebuilding cost of your home or the replacement cost of your contents could leave you without full protection. In this age of the aggregator, many homeowners are now taking responsibility for arranging their own home covers. It’s simple, plonk in all your details and hey presto, a premium appears and you can complete the whole boring process in a matter of minutes. You may have saved time and perhaps even money but is that the object of the exercise? Do you want cheap insurance or the correct insurance?
If you are going to use an aggregator and have any worries speak to the company they recommend, by all means compare prices but you can always phone up a quoted company if you have any questions or are unsure of any answers you have given. If you require help and would prefer not to use an aggregator, there are still many insurance intermediaries trading that will only be too willing to assist you on the phone.
We hope this summary helps you think about your cover levels as thoroughly as possible before asking for an insurance quote.
