Since the weather is always changing and most of the UK has been hit by storms and rain in the past few weeks (June 2007), it is more important than ever to know if your policy covers things like flooding.
When torrential rains hit the UK and flooded homes and destroyed things, many people didn't have the valuable coverage they needed, while others were lucky and did. People who were lucky enough to have insurance are thought to have filed around 1,200 claims because of this one event.
A sad fact, though, is that even though many people have insurance for their homes and think they are fully covered, a whopping 257,000 claims against policies are turned down every year because the home owner didn't get the right policy or didn't bother to read what the policy did and didn't cover, and they find out when they try to make a claim that they aren't covered.
Most people just take the cheapest policy they can find without looking into what it covers. This is one of the main reasons why people don't have enough insurance. Everyone wants the cheapest premium, but it's also important to have enough coverage for your needs. Saving money on your premium is important, but in the long run, the cheapest isn't always the best.
The most important thing to make sure of when thinking about home insurance is that you have all the coverage you need. Using a specialist broker for your home insurance is the easiest way to keep the cost down, and the information they give you makes it easy to compare prices for the same coverage.
When comparing policies, keep in mind that they all have hidden exclusions that you need to check. For example, one policy might have the lowest premiums, but it might not offer the same coverage as a more expensive policy. If you have to pay for extras, this will cost you more in the long run.
