Your home is your biggest investment, which is why it is important to look after it. As well as general maintenance and upkeep, protecting your house in case of fire, burglary or storm damage is crucial. Make time to read through your home insurance policy to ensure you understand what it does (and doesn’t!) cover and so you are aware of when it is up for renewal. Here’s what to look out for.
What Your Policy Covers
There are different house insurance policies available and not all of them offer the same level of cover. Read through your current policy and find out what your policy covers. The most popular options are current value (the amount your home and contents are worth at present), replacement cost (often regarded as the minimum insurance you should have to ensure you can afford to rebuild your property if needed and replace contents) or guaranteed replacement cost (full coverage which gives an extra percentage; ideal in areas where prices are quickly rising or in a time when costs are increasing).
Find out which level of cover you have and, if you feel it no longer meets your needs, contact your insurance company to discuss an alternative.
Any Discounts You Are Eligible For
If you have been with the same home insurance provider for a number of years, you may be eligible for offers and reductions such as a no claims discount. If this applies to you, check the discount has been applied – after all, you’re entitled to it!
Does Your Insurance Company Have a Good Reputation?
Check the reputation of your insurance company by researching online. If you have not made a claim, you might not have had dealings with them since the day you took out the policy which, with automatic renewals, could be years or even decades! By reading reviews you can gauge how long they take to make payments, how easy they are to contact and make sure you are happy they can offer the service you need. Checking customer retention rates can also be a great way of assessing how happy others are.
What to Do If You Want to Change Insurance Provider
There are many Northern Ireland home insurance providers on the market so it can be hard to know where to start. If you are looking for a new Northern Ireland home insurance provider, comparison websites can be useful. For a more personal recommendation, ask friends and relatives for their opinion on their own providers, especially if they have had to make claims. Take time to check out the websites of insurance companies who interest you and find out what they have to offer you – research before you sign up to make sure it meets your needs. Although applications may be able to be made online, speaking to someone can give you a more complete picture and allows you to ask questions related to your own situation.
Taking time to check your home insurance policy could be the most important thing you do. Don’t delay!