5 tips for home insurance comparison

5 tips for home insurance comparison

Many people (often wrongly) assume that staying with the same home insurance provider will be seen as being loyal and will attract a discount from the provider on the cost of the cover. Typically, this isn’t always so.

If your home insurance is coming up to renewal, don’t just automatically renew your policy without first shopping around to see if you can get a more suitable and cost-effective deal elsewhere.

Here are 5 tips for carrying out a successful home insurance comparison

  1. Combined or single policy?

There are two elements to a home insurance policy – buildings insurance (which protects the walls, ceilings, fixtures and fittings) and contents insurance (the furnishings, décor and your personal possessions etc.)

When buying a combined policy – one that includes buildings and contents cover – from the same provider, you may find it cheaper than buying two separate policies – i.e. one for buildings and one to cover the contents.

  1. What is the compulsory excess amount?

All insurance policies typically have an excess amount. This is the first part of any successful claim that you agree to pay. Typically the amount will be anything from £100 – £250, depending on the insurance provider.

When carrying out a home insurance comparison, do check that the excess amount is the same across all the policies you are considering to ensure you get a true cost comparison.

Also, note that with policy excesses, you can elect to pay a voluntary excess on top of the compulsory excess. Doing so may typically attract a discount on the cost of your cover, as you are taking on more of the risk from the insurer.

  1. What does the cover entail?

As touched on in the point above, it is important to make sure you are carrying out a comparison on a like-for-like basis, so check exactly what the cover entails for each policy option.

For example:

  • not all buildings insurance policies typically cover subsidence as standard;
  • some policies include accidental damage as standard, others don’t;
  • are lost keys covered?
  • does a policy have trace and access cover?
  • and so on.
  1. Do some payment options add to the cost?

Once you have narrowed down your choice of home insurance providers, check the premium payment terms. If you would rather spread the cost of your cover, you may wish to pay by monthly instalments and it is important to note that some providers may charge you extra for this.

  1. Are there any ‘extras’ with the policy?

By now you should be in a position of having two or three policies that offer the level of cover you require and at a price that you like. So, how do you pick the final one? The answer is to look out for extras with the policy.

This could be something completely unrelated to the cover, such as £30 M& S vouchers with your purchase, or a free toy etc.

Or it could be related to the policy in terms of providing free legal expenses cover or similar.


Hopefully these 5 quick tips will help you make a more informed decision when choosing your home insurance policy, enabling you to get the most appropriate cover at a price that meets your budget.