For homeowners, our homes are likely our most important assets. It is an incredible investment, and you have worked hard to get to where you are. It’s important to protect that home, and your financial well-being by choosing to invest in home insurance. You want to protect your home from unexpected loss or damage.
Here at Money Compare, we are committed to helping you find the right home insurance policy for your home, so you can ensure it's protected, and so you can grab the best deal possible. Insurance comparison is easy with Money Compare, and this guide is here to help you understand the importance of home insurance so you know why it’s so crucial to find the policy for you and your home.
Here are the top 3 reasons to invest in home insurance!
1. Protect Against Damage or Loss
Unexpected and sudden incidents can happen at any time. You want to be protected in the instance of damage or loss of property. For example, if you are a victim of burglary, fire, flooring, or natural disaster, your home insurance can help by covering the cost of rebuilding or repairing your home if there is damage, or if it is destroyed. Consider how much it would hurt you, if you had to dig into your own pocket for this!
2. Protect Against Liability.
Your home insurance policy can protect you from legal liability. If something happens suddenly where you accidentally damage someone’s property, such as a house fire burning your neighbour’s home, you could be legally liable for the repairs. Your home insurance can protect you by covering the cost of some of the repairs.
3. Help You When You Need It
When unexpected events happen, your insurance policy may be able to help you. For instance, if your home suffers a fire and is uninhabitable, your insurer may be able to help you find temporary accommodation while your home is being repaired. They can also help with organising and executing the repairs of your home, or help replace your property’s lock and key if there has been a burglary.
How Can I Find the Cheapest Home Insurance?
There are a few things you can consider, and do to ensure you secure yourself the best home insurance policy for your unique needs, and avoid paying too much.
1. Compare Policies!
The most effective way to find the cheapest home insurance policy is to compare. And no, it doesn’t have to take hours or a hundred tabs open on your browser! Simply jump on Money Compare to compare different home insurance policies all in one place, side-by-side. You can select filters that matter to you such as hidden gradual damage, key and locks, and temporary accommodation so that you can get the cheapest deal without compromising your requirements.
Comparing empowers you to make a fully informed choice, making it more likely that you will find the cheapest home insurance policy for your unique needs. Home insurance comparison is a great way to find the best deal, and save money!
2. Consider Excess
Excess is the amount of money you will pay if you need to have your insurance policy claimed. This excess amount is determined when you sign up for your policy. The higher the excess is, the lower your insurance premium will be. This can be a great way to lower your home insurance payments. However, it is important to consider how much excess you can afford to pay if you need to claim that policy.
3. Pay Annually
Many insurance providers offer discounts on your premium if you pay annually. This can help you save a significant amount of money month-to-month on your home insurance. You could make it easier to pay that annual premium by dividing the total into 12, and saving the amount each month. That way, you are prepared to pay when your renewal comes around.
4. No Claims Discount
Some insurance providers offer a discount if you have never claimed home insurance before. It’s a good idea to ask them to see if you can make some extra savings!
Still Need Help?
Here at Money Compare, we are all about helping Kiwis make better decisions with their money. We have a range of resources to help you make a fully informed choice about your home insurance. If you would like some help, we can get you in touch with a fully qualified insurance advisor. They can help answer any question you may have and help you compare insurance policies and find the right deal for you and your home.
