Finding a home insurance policy to suit you and your situation can be one of most important decisions involved in the purchase of a new property.
What sort of policy should you get?
There are a multitude of different policies available – including those which help to cover both the house itself and the possessions within.
Many mortgage plans will offer some form of home insurance as part of your policy, but don’t be tempted to jump in and accept the first offer. Each policy will provide varying levels of cover, so it’s best to do your research to help you find a plan that’s right for you.
What should you put against your insurance?
Go through each policy carefully and be sure to read the small print to see what can be covered, and also if there is a limit as to how much you are able to secure against your insurance policy – such as electrical goods and garden equipment.
What are you covered against?
It is essential that you read the small print of your policy to check what will be covered in the event of an incident – such as fire and flood damage.
What security features are present in and around the property?
Check the locks and any security systems on the property, including on all doors, windows, gates and even garden sheds.
What sort of area is the property in?
Be sure to research the local area as part of your search, if the property is in an at risk area – whether from crime or flooding – this could potentially affect the cost of your home insurance.
Consider signing up for your local neighbourhood watch scheme, not only to help give you some peace of mind, but some insurers may take membership of such a scheme into account when considering the price of your home insurance policy.
By taking the time to do your research and look into all aspects of your home insurance policy, you can help yourself to save a little money as you prepare to move into your first home.
Written by the home insurance team at Moneysupermarket.com
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