You
need to insure the building and your possessions.
Your mortgage lender will probably try to get you to take
their own policy. Most people used to take these because life
was tough enough without having to make dozens of calls to
find a cheaper option.
But the internet has changed all that.
Shop
around and save yourself thousands by avoiding
tie
ins and bundling. This doesn't
have to involve you trudging through the phone book. You can
have the market checked for you by filling out a simple application
form on various websites and save thousands of pounds.
Buildings
and Contents Insurance BUYING
TIPS
Rebuilding
costs are not the same as the market value of your home.
Often
they're less than half - for example they don't include the
cost of the land.
You'll
overpay if you get this wrong. But if you underestimate
it you're in big trouble.
Ask
your insurer's advice about this. The Association of British
Insurers have a useful booklet called "House rebuilding
costs". Tel 020 7600 3333.
Don't
get it wrong!
Don't
underinsureyour contents
and possesions. Even old furntiure etc will be expensive to
replace. Too many of us regret having miscalculated when it
comes to having to buy new things and finding how much we
should have insured for.
Go
through each room and list what you have.Be
realistic about the replacement costs.
For
high value items, antiquesetc
Get an independent evaluation.
Be
wary of "blanket cover"packages
which some insurers offer. These are based on the number of
rooms. You may end up paying more than necessary.
Shop
aroundfor better quotes
than your lender's offering and you could save thousands.
Basically
as with all types of insurance: don't underinsure,
don't overinsure and
only get insurance that's relevant to your needs.
If
you want a quote now check out these providers
below or click on this link below
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
