top tips when buying home insurance
Top tips
- Shop around (use the Defaqto compare tools for buildings and
contents insurance)
- A burglar alarm, extra security fittings and membership of
Neighbourhood Watch may give you a discount on your premium
- Remember to insure your property for the cost of rebuilding it,
not the market value.
- Use the Association of British Insurer’s calculator to work out
the cost of rebuilding your property: http://abi.bcis.co.uk/
- You don’t have to buy buildings and contents insurance from the
same insurer, although many will give you a discount for doing
so
- Watch out for higher minimum excesses when buying online
- Check the small print for policy changes at renewal
- If buying direct, check that the small print matches what
you agreed on the phone or online
- Monthly direct debit payments may cost more than paying
the entire premium upfront.
- If paying by direct debit, check what happens if you miss
a monthly premium payment. Does your cover cease immediately?
- You can sometimes buy ‘no claims discount’ protection for a
small extra premium.