Home Insurance Quote | What Factors Affect Your Home Insurance Quote

Your Home Insurance Quote

The cost of a home insurance premium depends on a number of factors, and knowing what insurers are looking for when giving you a quote can help you to get the best deal. When applying for a home insurance quote with Castle Cover who specialise in over 50’s home insurance, it is worthwhile to do some research on the kind of property you have, and how well-protected it is against burglary and environmental damage. Ensure that you provide your insurance company with a true market value for how much your home is worth based on the market value today. If you don’t value your home properly and you under estimate the value of your home and it then is destroyed in a fire and needs to be rebuilt; then you could see the insurance company reduce your rebuild cost by the percentage of the shortfall in the premiums that you should have paid. Make sure that you always get the correct home insurance quote for the correct amount of protection.

The Age Of Your Property Affects Your Home Insurance Quote

Home Insurance QuoteHome insurance premiums can be significantly affected by the age of a property, as older houses tend to experience more problems from things like weathering and rot, and may not have the most up-to-date electrical systems, plumbing and heating. An insurance policy will also tend to cost more as the size of the property increases, as there is a larger area to cover and typically more valuables that could be damaged.

The location of the home, particularly if it is in an area with a high rate of crime, is another factor that can push up the cost of both contents and buildings insurance premiums. This can be offset to some degree by ensuring you have a burglar alarm fitted and take other security measures, such as installing a door grate to prevent break-ins. Ask your insurers for a home insurance quote with a burglar alarm fitted and a quote without and see if it is worth installing a burglar alarm system for a cheaper quote

Risk Of Flooding Can Affect Your Home Insurance Quote

If your home is in an area at risk of flooding, you may be able to reduce the cost of the policy by taking preventative measures. Certain home improvements like air brick covers and non-return valves on drains can help to protect your property and possessions from water damage.

The kind of insurance policy you get will also have a large influence over how much you pay regularly. If you opt for a small excess, which is the amount you have to pay to fix something before the insurance company steps in, it is likely you will be paying more. Ask your Insurance company to give a different home insurance quote for the different amounts of excess e.g. £100| £150| £200 till you find the correct level for your affordability.

You may also be able to reduce the cost of your home insurance by taking an accurate inventory of your possessions and how much they are worth, rather than estimating. If you know exactly how much cover you need, it’s likely you will be paying less than somebody who takes a guess.

Your Home Insurance Quote Should Reflect The Right Amount Of Protection

While it may be tempting to opt for the cheapest home insurance policy, it is much more important to get one that gives you the right amount of protection – after all, that’s what it’s there for! Don’t cut corners for a cheap home insurance quote it is not worth it.

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