Making smart decisions about home insurance

Making smart decisions about home insurance

Whether you’re getting a mortgage deal for a new home or an existing one,
sorting out your building and contents insurance at the same time can be a
real headache.

But fear not. Here are some simple things you can do to ensure you make smart decisions to protect your home - and avoid feeling like banging your head against one of your brick walls.

Use independent reviews - ratings are their business

Doing your own detective work on the best policies is time-consuming. To avoid disappearing down an internet wormhole, use the ratings of an independent service that compares financial products to help you separate fact from fiction.

Their experts put financial products under the microscope, judging the quality and comprehensiveness of their features. Defaqto is a market leader, well known for its well-balanced assessments; keep an eye out for their star ratings as an independent expert benchmark to help you weigh up your decision. A five-star rating, like those given to Countrywide Homeowner and Landlord Insurance, means a product provides one of the highest quality offerings on the market.

Consider your cover limits carefully

It’s easy to be blinded by insurance policy jargon, but cover limits – the total amount you're covered for if you need to make a claim – are well worth close attention. You want to make sure you're covered for most eventualities but equally, you don’t want to pay for a level of cover you’re never going to need.

By making reasonable estimates on what it would cost to put things right, you can find the right balance and ensure your cover is good value for money.

Are they too high or low?

Imagining worst-case scenarios is no fun, but it can help you get a more suitable cover. Here are some questions to ask yourself, when estimating whether you’ve got the right level of insurance.

  • What would it cost to replace the contents in my house?
  • If you needed to move out of your property while problems were fixed, how much cover would you need for alternative accommodation?
  • What are the most expensive problems that can go wrong with your house?
  • Are there hidden costs to problems, like debris removal, that you may need extra money to cover?
  • How much would it cost to rebuild your home?
  • If I’m renting my property, what else could I be liable for?

Know the underwriter

It’s important to thoroughly check who’s underwriting your home insurance policy. Someone you haven’t heard of may provide brilliant cover, but it’s good to know a bit about them, in case you really need their support.

Obviously, there’s no guarantee a big company won’t let you down either, which is why looking into an independent rating of a policy you’re considering makes a lot of sense.

Remember you can cover more

All the clever tech gadgets we use – laptops, smartphones, smartwatches and much more – mean we all carry around plenty of items that we’d hate to get damaged, lost or stolen. Adding them to our home insurance, for when we’re in or out, can be a lot simpler and cheaper than getting separate insurance for them. If you have a bicycle that’s close to your heart, that can easily be covered too. Not to mention, jewellery, watches, and even clothes. Inside, it’s also possible to get accidental damage cover for furniture and carpets, so you can worry less about red wine going everywhere or a minor decorating mishap!

Be confident in your final decision

Remember, your decision isn’t just about protecting your home; it’s about putting your mind at ease. Independent ratings are a pretty strong indication that a policy provides a comprehensive level of cover and is one of the highest quality offerings on the market, so it’s a good way to find peace of mind. Our Countrywide Homeowner and Landlord products are 5-star Defaqto rated policies. They’re underwritten by AXA Insurance UK plc which is one of the largest insurers in the UK. If you'd like to know more about our home insurance products or would like a quote, contact your local Countrywide Mortgage and Protection Consultant who will always be happy to help.

Insurance to suit your needs

We can provide a range of different cover options to protect your home and contents.