If you are wasting thousands of pounds every year on home insurance then you definitely have to follow these tips to ensure that you save instead of waste your hard earned cash.
As humans, we tend to forget to read the fine print of the terms and conditions of contracts, and then run into trouble later on. There are a number of legitimate reasons why insurers can refuse to make certain payouts, but they are normally hidden in the paragraphs of the contract and we miss them when we are signing the insurance policy.
When you are buying an insurance policy, you need to make sure that you comply with the terms and conditions in order to make claiming easier and to make it possible for your insurer to be able to pay you out.
Get your security right
When you apply for insurance that covers the contents of your home, you need to make sure that you have sufficient security measures attached to your doors and windows. If you have taken care to secure your home then your will end up paying a lot less on your premiums every month. You can run into big problems if you need to claim and you have not been 100% honest with your insurer when you took out the policy. If you are not honest with your insurer regarding the security in your home, they have every right to refuse making a payment.
Check the value of your possessions
It is very important that you find out the true value of your goods. Many insurers will ask us to estimate what our household items are worth and we normally guess a lot less than it is actually worth. We then loose out when we have need to claim, because we never get back the value of our belongings. Another really good reason why you must make sure that you get covered for the correct amount is when you need to claim in the event o a fire. Imagine losing all you possessions in a fire and not being able to replace all your items because you did not get paid out enough money.
Keep your insurer up to date
It is very important that you keep your insurer posted with regard to any important changes as these may affect whether of not you are paid out for a claim. Many policies insure items of value separately, which allows you to claim for these items and actually get their true value paid out. Make sure that you let your insurer know as soon as you have a new item of value. Never wait until it is time to renew the policy – it could be too late by then.
Do not rely on the landlord
If you are renting from someone else, do not assume that they are covered. Your landlord may be covered for certain things such as flooding, but unless he is a very nice person, he is not very likely to cover your personal belongings as well. Make sure that you get cover for your belongings – you never know when trouble can come your way. Rather be safe than sorry.
Check your tech cover
Downloading music and movies is becoming more and more popular and it would be very sad if it was all stolen and you find out that you were not covered for this. Not all insurance companies cover digital downloads, so be sure that you check whether or not you are covered for this and that your laptop is included in the cover.