Home Insurance - Have You Read Yours?
In perhaps what is to be considered a worrying report by Tesco s, it has been stated that 34% of people have never read their policy documents.
In previous articles I have written on particular topics in relation to this area, such as coverage of garden contents. This is another area being left exposed under some policies.
It is vitally important to know what you re getting when you apply for your premium, as with any insurance policy.
Even more worrying, it is said that a massive 41% of people are unaware of the maximum contents cover of their home. This is certainly shocking news as this is perhaps one of the most important areas that house insurance policies are set out to cover.
The following statistic is perhaps even more unbelievable a rather substantial 36% of people do not know if their home insurance policies individual item limit will offer the level of cover required to replace a highly valued object.
There are many factors to consider when applying for your policy, here are but a few of them Check garden cover is included, check your maximum contents cover (calculate the cost of replacement of your possessions before hand, do not leave it to chance), find out the highest level of cover for an individual item, such as jewellery (take out extra cover if necessary on these items). Some policies offer cover for portable items, such as MP3 players, check if this useful eventuality is included. Remember to check what levels of security the company expect at your property many companies require extra locking bolts to be placed on windows and doors and some will reduce your premium if you have an approved alarm system. Remember, insurance is a case of risk assessment, decrease the risk of your home being broken into and this should show direct correlation in your premium price. Be aware that simply having an alarm system is not enough it should be fully working and must be set every time you leave the house. Failure to do so could result in your policy provider not paying out.
To use a scare tactic, for which I apologise as I deem it necessary in this case It has been estimated that 6 million households are at risk from losing everything as they do not have cover at a high enough level or simply do not have cover in place at all. Can you afford to have this happen to you?
I cannot emphasise enough how important it is to check a prospective policies details when renewing your insurance. Of course you should aim to receive a cheap home insurance quote when searching, “but” and this is a big “but” it should always cover all the key areas you are looking for, and provide cover at a level you are happy with. Always make sure you read your policy online, or upon receiving it and question anything you are unsure or unhappy about. This is the golden rule and after all you can t beat peace of mind can you?
It has been reported that 34% of people have never read their house insurance policies.
Are you one of the many people who have not done so? It is vitally to know your levels of cover on your home insurance.
Remember, when applying for a new policy do not look only for a cheap home insurance quote, ensure everything you need is covered, even if it means paying slightly more to achieve this.
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