Do you need home insurance.
|The first thing to remember is that buildings insurance and home contents insurance are different. Buildings
insurance covers your properties structure and the fixtures and fittings and is designed to provide you with insurance should
the building have to be repaired due to fire etc. If you have a mortgage your mortgage provider will normally insist
on you having buildings insurance cover.
Contents insurance is different as it is designed to cover your possessions
like furniture, furnishings and personal items or in a nutshell the items you would take with you if you moved house so clothes,
televisions jewellery etc. What is worrying is that that some recent articles have suggested that people are not taking
out home insurance during the recession and even those that have it are under insured on their home contents insurance policy.
Have you thought about what your home contents actually cost? Surveys have suggested that the figure is over
£45,000 (based on a 3 bedroom house with 2 adults and 2 children) for the typical home!! Do a quick calculation
in say your living room...3 piece suite, carpets, rugs, tables, lights, ornaments, widescreen television and dvd
player plus maybe dozens of dvd's and cd's @£10+ per item it soon adds up and bedrooms are no different when
you add up what the clothes, bed linen, jewellery etc have cost.
Without home contents insurance if you have
a worst case scenario like a fire or theft you will have to replace the lot at your own expense and not many families
have that kind of money readily available.
If you are in a situation where you are struggling to find the
money to pay for home contents insurance consider these tips to try and reduce it.
Try increasing the policy excess
as this will often lower the premiums and help your budget.
Shop around as it is surprising how often consumers remain loyal to their current supplier without checking to
see if they are offering a reasonable or bad insurance deal.
Consider amalgamating both your home contents
and buildings insurance as by looking around you might see a cheaper offer. For instance many insurers offer online discounts if
you take buildings and home contents insurance together.
With swiftcover you can save up to 25% online by taking out a combined contents and buildings policy.
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