5 common mistakes to avoid when choosing your home insurance

Your home is your castle, so it is important that it is fully protecting against whatever life throws at it. From falling trees to opportunist thieves, it is imperative that you have the right cover in place to protect you against the unexpected.

When choosing insurance, you may wish to seek the advice of an insurance broker or an independent financial adviser, but here are some common mistakes to avoid, courtesy of Discount Landlord:

1.  Choosing  price over value

At Discount Landlord, we always try to find you the cheapest rates on the market today for the cover you require. However, choosing the cheapest cover may be a false economy in the long run, always make sure that the policy covers your individual needs or you could end up paying thousands further down the line.

2. ‘Specialist’ doesn't necessarily means expensive

If you have specialist needs, such as residential and commercial combined properties or properties of high net worth then you may need specialist cover, but don't presume this equates to expensive cover, as we are happy to help tailor our policies to meet your needs.  

3. Don’t under-estimate the value of your home or contents

Under-insurance is a common problem, particularly if you have a lot of expensive possessions or your home in worth more than average.  Double check that the sum of contents that needs covering you provide correct and that this amount is covered by the terms of your policy. Should your circumstances change or you purchase items you feel exceed this amount, then you should update your policy immediately.   

4. Check you are covered for all eventualities

‘Perils’ such as fire, theft, storm and water damage are normally covered as standard. However, you need to check what is NOT covered by a policy too. If a policy doesn't mention accidental or flood damage then it almost certainly isn’t covered against it. At Discount Landlord, we are totally transparent about our cover, and all our policies are underwritten by leading UK insurers , so you know there is no compromise on quality.   

5. Not grouping your insurance together

Having different insurers for your home, car, travel, income protection can not only be a logistical nightmare, but could lead to gaps in your cover. It can be hard to keep on top of renewals, as well as potentially having to deal with multiple companies, should an incident arise.  Our sister site Discount Insurance provides a ‘one stop’ shop for most of your insurance needs.

Richard Anthony

www.discountlandlord.co.uk