House Insurance |
Buying home insurance onlineThe recent boom in online insurance has been both a blessing and a curse for the consumer. Whereas in the olden days you had to ring around several insurance companies trying to get a good deal on your home insurance, nowadays you can get quotes from hundreds of competing companies at the click of a button, laid out nicely in a table with the cheapest at the top. This change in the business model of insurance providers sparked a price war between rival insurers, which, on the whole, has been good news for the consumer. Prices have plunged due to the reduction in paperwork processing fees required by the online system, and the increased and exposed nature of the competition between rival firms has kept prices low for people who are willing to shop around online*. However, it has also forced the insurers to cut costs by lowering the level of insurance cover that comes as standard with their policies, and as a result you may not be covered for some eventualities, and you might not find this out until it’s too late. Some things that you would expect to come as standard with a home insurance policy are, in reality, cost options on most basic policies. Items that are insured when they are in the house are not usually insured when you take them out, unless you specifically ask for it. If you damage property accidentally, for instance if you smash your plasma screen with an enthusiastically-wielded video game remote, you will not be compensated with a new TV unless you specified it as part of your policy. The majority of long-established insurance providers will replace items on a new for old basis as standard on their home insurance policies, replacing anything that has been lost or damaged in the event of an unfortunate incident with a brand new item of equivalent status and specification. Some of the newer, less well known insurance providers that turn up amongst the cheapest providers on price comparison websites will only refund items at their resale value or demand that you pay the excess on any claim, so it is worth finding out the exact terms and conditions of any policy before you buy it. *With Kwik Fit Insurance you can get a 20% discount for buying house insurance online. Visit their site for more information. |
