It's likely that your home is your largest asset so it's important it's insured to that effect.
Home insurance comparison sites have sprung up across the internet and supposedly give an overview of the best value on insurance quotes for your home. Here's how to use them to find the best deal.
Home insurance sites supply quotes based on a number of retailers in real time price information.
These comparison sites for home insurance list numerous different insurance providers vying to sell insurance to consumers.
In itself getting a number of insurers to compete in an open and very transparent looking market place is a tough job, especially when many large insurers have their own sites with no middle man and no need to pay margins for the business drummed up by comparison sites for home insurance.
This margin has become a contentious issue for some sites and some insurers have pulled their insurance from comparison websites for home insurance for one reason or another.
This means that not all of the companies are represented on these sites so they won't actually provide you with a true reflection of the cheapest quote available for your home insurance in the market place. This can mean you'll end up paying more than you need to for cover.
Quotes received from these sites vary greatly from insurer to insurer as do they due to personal circumstances.
The questionnaire you fill in will evaluate your individual situation to some degree. However, certain overlooked factors that are not asked on a comparison site can also mean you end up paying more for your home insurance than you should, and aren't covered for things you should be.
Assumptions are made about circumstances when you purchase insurance from a price comparison site and you may not get the best home insurance quotes insuring in this way.
However, saying this do often offer an approximately representative picture of the price that you will pay for home insurance and are usually a far better alternative than sticking with the same insurance provider year on year.
Using price comparison sites as a means of research and then contacting the companies who give you the best deals personally can lead to the best insurance deals.
Should you renew?
In most cases insurers save the best deals on insurance, including home insurance, for people who are looking for an insurance policy rather than offering them to existing customers.
After the company get you to sign up you may not receive the benefits of cheap insurance in the years thereafter. Consulting home insurance comparison websites before you get your renewal and getting a quote from other insurers will often not only open your eyes, but also mean you can bargain the cost of insurance with your current company down further than the price quoted for the upcoming year.
This is especially useful if you don’t wish to change insurer but feel your home insurance is too costly.
Using building and contents insurance comparison sites in this way and then bargaining can save you a lot of money.
Things to check
There are a number of things to be vigilant about, as some smaller comparison sites don't list home insurance companies comprehensively or update information regularly.
For this reason you need to check the details quoted about the level of cover provided are accurate so that you don't get caught out.
Also, never choose between home insurance quotes on price alone rather than the comprehensiveness or suitability of the policy.
You must always check the policy and what is offered before entering an agreement – it might be all to late when your house floods and you realise you don’t have insurance to cover this eventuality.
Finally if there is anything you are unsure about or anything that is a cause for concern, call the company directly and deal with them.
Using price comparison sites can be a quick and easy means of finding a competitive home insurance quote, but only if you are aware of the precautions and further research you need to carry out yourself.