Credit Crunch - Don't Skimp on Insurance
With the current financial climate, many people are looking for ways to save money and at times insurance can seem like an unnecessary expense. However no-one knows what's round the corner and if you suffer from DIY gone wrong, flood damage to your home, theft or a fire, you could find yourself even more out of pocket.
This does not mean you have to pay over the odds for house insurance. Shop around for the best deal to suit you and you could save money. However make sure you are aware of exactly what is covered as some policies may be cheaper but may not offer the level of cover you are looking for. Many companies allow you to tailor your policy to suit you with additional cover available to cover certain personal possessions such as bike cover or accidental damage to carpets. These are usually offered for an additional premium so only get them if they are most suited to you.
When looking for the best deal, you can often save money by purchasing online. There are a number of companies such as Legal & General which offer significant discounts if you book your home insurance online with further discounts if you insure both your buildings and contents under the same policy. If you do decide to switch your house insurance, some companies offer incentives. For example, RIAS offer £25 if you are charged by your existing company to switch.
With job security at an all time low, it also pays to ensure your policy includes a premium waiver which means that payments are covered for a specified time (usually around 12 months) in the event of job loss through accident, sickness or unemployment. Again, it is advisable to check the small print before signing up as some policies only cover you if you are out of work due to sickness and don’t cover redundancies. However, some do so it's worth keeping in mind when looking for the right policy for you.
So as you can see, there are ways to save money when it comes to house insurance and despite the current financial environment you can make sure your home and your possessions are covered for all eventualities without breaking the bank.
