Cheapest home insurance 'is not always the best option'
Published On 25 April 2008
Consumers should not simply opt for the cheapest home insurance polity, an industry expert has said.Kelly Ostler-Coyle, a spokesperson from the Association of British Insurers (ABI), explained that the cheapest home insurance policies might not actually provide the necessary cover when faced with a legal dispute.
Indeed, she stressed that cheaper insurance policies often did not include important add-ons like legal cover.
As well as price, Ms Ostler-Coyle suggested that the cover provided and the small print of a policy should be considered.
"When you are taking out taking out your home insurance you don’t just want to go for the cheapest. You want to say, ' Does it include legal cover? Does it have all risk extension fees so you’re covered for your items when you’re outside the home and how much [in terms of] belongings am I covered for?'
"You want to be looking properly at your policy to see what cover you have for everything and not just going on price, so if anything happens you are completely covered."
Recently, Halifax warned that homes were at a greater risk of subsidence during the spring, making the correct insurance even more important.
