Three common home insurance mistakes

When it comes to protecting your home, getting the right level of insurance is crucial. However, this is not always as easy as it may at first seem. With so many variables and different options to choose from, many homeowners can end up making costly errors. Luckily, by doing a little bit of research and careful planning, you should be able to steer clear of these pitfalls and get suitable cover. Here are three common home insurance mistakes you’ll want to avoid.


1. Not comparing quotes

Many homeowners fall into the trap of settling for the first policy they find without shopping around. Although you may think you are getting a good deal, you stand to save significant sums of money if you expand your search. As well as focussing on getting a good price, it’s important to make sure you get a policy that’s perfectly tailored to your needs. OK, so scouring the market for different policies isn’t the most enjoyable task in the world, but there are ways you can make this process easier. For example, specialist brokers like Chill Insurance can compare quotes from a range of different home insurers to help you find the most suitable level of cover at competitive prices.

2. Not knowing what you are covered for

Let’s face it, everyone is guilty of skipping over the small print at some point or another. However, not reading your policy properly can be a risky business, as the most important details are often concealed within the paperwork. If you overlook the terms and conditions of your policy, you will be unclear about what you are and aren’t covered for and could be in for a shock if you ever need to make a claim. To avoid having future claims rejected or paying more than you need to in your premiums, it’s important to get clued up and go through your policy documents with a fine tooth comb. If there is anything you are unsure about, don’t hesitate to ask your insurer to explain it to you.

3. Under-insuring your property and belongings

Another frequent insurance blunder is under-insuring your home. While it can be tempting to try to pay less on your premiums to save cash, this can actually end up costing you more in the long run. To ensure you have enough cover, you’ll need to accurately estimate the cost of rebuilding your house and replacing your belongings if they were damaged or destroyed. To do this, you can use an online home insurance calculator or ask your insurer for help.

By making a conscious effort to avoid these common insurance mistakes, you can breathe a sigh of relief knowing that your home is properly safeguarded.