Home Insurance Article

Home Insurance.

Home Insurance In today’s uncertain world when people are full of prejudices and financial difficulties, everyone is very concerned for their most important assets: their properties. This is why many people feel forced to get some kind of security over their houses. The most efficient way to achieve this is by purchasing home insurance. Generally speaking, these plans are designed to protect the insured house against unforeseen damages and losses.

It is obvious why people place priority on protecting their homes. But we should also note that this kind of plan has a numberless flexibility-features which can make it suit to people’s unique needs. Applicants may choose from various coverage-levels, and thus they may insure their home’s contents (such as home computer or entertainment equipment), they can make claims for losses due to the property’s use (for instance, if extra living costs occur), or due to natural disasters or accidental damages. But many other coverage-levels exist and there are additional extras as well that can be attached to the contract as a rider. For instance, one may add a personal liability component to his/her policy, thus insuring that in case another property is damaged in our neighbourhood because of our house, the insurance-company will pay our neighbours for the damages.

But how can we know our way in this complicated world of property insurance? Before all, an appropriate choice involves a careful analysis of the applicant’s individual needs, living conditions, the property’s state and usage. Applicants should also take into consideration their personal and financial circumstances in order to be able to fund the policy for an indefinite period of time.

You should compare insurance types, to find the one that covers all your risks.As far as the home insurance types are concerned, people may opt for insuring only the house, only the contents or both of them. Obviously, the best policy is the combined one. But in order to satisfy various needs, people are given two options: a more extensive and a simpler coverage. Those who opt for a top cover will be insured against earthquake, fire, storm, flood, theft, vandalism, accidental damage, and also for legal liability. This option also involves more flexibility-features (concerning people’s excess or the payment methods for instance), applicants can make claims 24 hours a day, seven days a week, and they will not need any paper to do this.

Those who cannot afford such an extensive coverage should choose the essential cover which has a lower price. This, however, does not involve accidental damage cover and it also has lower cover-limit for certain items. But those whose focus is on affordability, should go for this option which still provides coverage for earthquake, fire, storm, theft, vandalism, legal liability and many others. With both coverage-types, people can choose their own optional extras, thus increasing their coverage-levels.

After having made a decision regarding the appropriate coverage-level, people should focus on finding a suitable offer regarding another factor, namely, the price. Finding the best deal is not always easy, but there are certain methods that may come as a helper. A useful tool in this sense would be an online comparison tool. This provides people with free service, and helps them in comparing several home insurance policies of the same type. People can see this way the price of each available policy, that is to say, their monthly or annual insurance premiums. Another alternative would be to get a free home insurance quote online or by phone. Such quotes provide applicants with various offers from multiple companies. With these tools it will be easy to find the most suitable offer and save money as well!

The following details are needed to get a free home insurance quote: personal information (name, occupation, number of people living in the house etc.), property details, and insurance-history. Data is usually checked in the form of questions: people have to write a short answer or simply pick the right choice from various possible answers. The first section usually refers to the owned property-type (house, bungalow, flat, terrace, or other), the age of the building, the number of bedrooms, the roof-construction (applicants may choose from tile, concrete, slate, asphalt, timber, corrugated iron, thatch, or other), and the construction-type of the external wall (such as stone, brick, concrete, timber, prefabricated, flint, corrugated iron, glass, or other).

The next section contains some security-questions. People have to provide details whether the insurable property has ever shown signs that may indicate subsidence or landslip. Applicants also have to tell if the house has ever suffered from flooding, or if it is in an area at high risk of flooding. Other questions refer to the number of smoke alarms, the characteristics of the burglar alarm system (if there is any), and if the externally accessible windows are well-fitted with locks. Finally, it is asked whether the property is occupied during the day/ the night. Obviously it is better if the house has more security systems. The last section refers to the applicant’s ownership status (such as owner, mortgaged house-owner, tenant, or landlord), as well as the chosen policy-type. Applicants also have to provide the total sum of home and contents that are going to be insured.

Although the order of these sections and questions may vary, the content is pretty much the same. Believe it or not, but getting a free insurance quote is easy, as applicants only have to answer some simple questions or choose the right answer in other cases. In a few minutes, applicants get a quote which practically is a list of various reputable insurance companies and their products. Besides comparability, another advantage of such quotes is the possibility to apply online.

Nevertheless, with any insurance-type, there are some excluding factors. For instance, with a UK home insurance, it is assumed that the insurable house is in Great Britain, the Channel Islands or the Isle of Man. Moreover, those who live in the house must not have such occupations as actor/actress, or other jobs related to the entertainment industry. They might also need to prove they have not ever had any criminal convictions, do not have any pending prosecutions, have not been refused by any insurance company and none of their previous policies have ever been cancelled. A final requirement is that the insured house must not be used for any business-purposes or as a holiday-house and the maximum amount of total valuables in it must not exceed £6,000.

In one word, it should be a priority for everybody to buy an appropriate home insurance. This may involve taking time to compare various offers and check the excluding factors. People should choose such a policy that covers the home-structure. It is also important to get coverage over personal belongings and liability. Finally, the best policies provide financial help for the insured in case the house becomes so damaged that those who live their have to shift elsewhere. Applicants who want to check absolutely everything may ask whether the home reparations in case of a claim are made by approved professionals, as well as they may also look for bonuses. One of the commonest is the no-claims-discount given for those insured people who have not made any claims for five years.

All in all, policyholders are recommended to be very careful once (when concluding a home insurance policy), read out the whole insurance-contract, as this ensures both they and their homes will be safe. For more convenience, people should look for an online policy and manage their insurances from the convenience of their homes.


Disclaimer - Important, this article is of a journalistic nature, and is supplied by a journalist external to AgentQuote.co.uk. It should in no way be considered as advice. Should you choose to act upon any information in this article then you do so at your own risk. AgentQuote accepts no liability in respect of any information contained within this article, or actions carried out in respect of it.