The term Home insurance encompasses two different types of insurance policies. The first is the building insurance, the second is the policy for various contents present in the building. Both these policies are sold together to home owners who would like to purchase home insurance for their precious investment. There are many different insurance companies which sell insurance policies for houses, the difference between the various policies is the level of protection offered. In this article I will be writing about the various things you should consider when you are planning to buy home insurance.
1. Make sure you get lower premium rates on your policy.
As with any insurance the home insurance also comes with a hefty premium amount. The first thing to do when you plan to buy an insurance policy is to make sure you get a lower premium rate.
In order to get a lower quote on your policy you need to follow some safety measures:
- Having a house in a safe neighbourhood automatically attracts low premium rate on insurance policy.
- Have an alarm installed in your home, most companies give you a rebate if your house is fitted with anti burglar alarms.
- Have your doors and windows refortified with locks. Many companies offer a very low quote if your house is thoroughly protected.
- Do not forget to declare certain key factors like you are not an alcoholic or a smoker; this attracts lower quotes because many companies consider individuals with good life style to be better care takers of the home. Similarly if you have a watch dog, mention it when you are buying the policy.
2. Separate insurance for building and contents inside the building.
When you decide to buy the home insurance make sure you buy separate building and content insurance policy. The logic behind this is fairly simple when you buy separate policy you can make sure you get two better policies at a very cheaper rate. When you are buying the insurance policy for the contents inside your house buy insurance only for the things which you need. Most of the companies would like to sell insurance for all the content in the building which will result in a very high premium. It is very important that you make it clear that you need insurance for the things which you consider are important.
3. Buy policies online
The best way to get the cheapest policies is to buy them online. Many websites offer reduced premium quotes if they are purchased online. You can also compare the various policies online before buying; this gives a clear idea of the various types of home insurance policies available in the market.