Home Insurance Buying Tips and Tricks

Home Insurance UK Guide
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Home Insurance Buying Tips

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Shop Around

Only buy cover you need

Make sure it covers you

Beware insurance 'tie ins'

Shop around

Provided there's no tie in to the mortgage lender you can go directly to an insurance company or via an insurance broker for any of these insurance policies.

As always, shop around. The cost savings and quality of cover vary greatly.

Differences of up to £150 a year on mortgage protection insurance are commonplace. That's £3,750 over a 25 year mortgage term.

Differences of £66 a year on Buildings and Contents Insurance are commonplace. That's £1,650 over a 25 year mortgage term.

Life insurance premiums can vary by £480 a year leading to a difference of £12,000 over a 25 year mortgage term.

Price does not necessarily guarantee quality in the wonderful world of financial products.

Read on:

Only buy cover you need

Make sure it covers you

Beware insurance 'tie ins'

Back to contents of Home Insurance Guide

See full contents of the Home Buyers Guide

Read about How to get a Mortgage

I've read enough for now and want to get a free Quick Mortgage Quote

Only buy the cover you need

The first rule with insurance of any type is get only what you need. Not too much and definitely not too little insurance cover.

For example a single person with no dependents does not need life insurance but should consider Permanent Health Insurance.

Recent rules have made it compulsory for lenders who sell life insurance policies with the mortgage to include the cost of it in the headline interest rate.

However because many buyers will just look for the lowest headline rate some lenders are not selling life insurance, but are only recommending it's taken out.

This may seem a good thing but it's leading to less life cover being taken out.

Do make sure you're covered for your needs. If you have dependents actively seek out life insurance and Permanent Health Insurance.

We would say, regardless of your circumstances, consider getting Permanent Health Insurance.

Read on:

Make sure it covers you

Beware insurance 'tie ins'

Back to contents of Home Insurance Guide

See full contents of the Home Buyers Guide

Read about How to get a Mortgage

I've read enough for now and want to get a free Quick Mortgage Quote

Make sure it really does cover you

Another consideration is just because an insurance company has sold you a policy this does not mean you're eligible to claim on it.

To make sure you are covered you can challenge them to confirm in writing that your particular circumstances are covered.

To read more on this subject please see the list below or your mortgage guide or your home buying guide

Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below


Value of Property	£
		(eg 125000)

Borrow How Much?	£
		(eg 92500)

Your Mortgage Type

First time buyer?		Yes No
Have you found property?		Yes No
Country

Sorry ! The amount you want to borrow is less than £25,000. This is the minimum allowed for a mortgage. But don't worry! You could get the money via a personal loan. I want a free no obligation loan quote Click OK No thanks. I will change my borrow amount to more than £25,000 Click Cancel