Buying a New Home: a quick guide
Are you Buying a New Home?
Making an offer on a new home can be an exciting and life changing event in your life. It can also cause a lot of headaches because there are so many things to think about and consider, even before you get your keys. Having all the right insurances is vital for the ongoing financial security of your new home. Here at comparethemarket.com we appreciate what a frustrating and stressful time buying your new home can be, so we have put this guide together to help you make sure you at least have an idea on insurances for your new home.
New Home Insurance
Having the right home insurance is essential, a home insurance policy traditionally comes in two parts;
Buildings Insurance
Building’s insurance means the four walls around you are insured. Typically your insurance will cover against fire, smoke, subsidence, malicious damage, storm damage, explosion, lightning and flood damage. Polices can also cover against damage to drains, fixed glass and pipes. It is a good idea to consider add accidental damage to your policy so that your home is covered against damage caused by yourself or others around you.
Contents Insurance
Your possessions inside your family home can accumulate to thousands of pounds, if they were to be damaged in a fire or stolen, contents insurance provides you with the cover to enable you to replace them. Like buildings insurance, accidental damage can be added to your policy which will cover your contents against damage to upholstery, household fixtures and electrical equipment that is caused by yourselves or others around you.
You can buy these two types of home insurance policy separately or together, but both types of cover will be needed to cover both inside and outside your new property. Additional extras like accidental damage and legal protection can be applied to your policy or may be included as standard depending on the insurer. Make sure you check all the policies details to ensure you have all the cover you need for you and your home.
Mortgage Protection Insurance
A mortgage is a big financial responsibility and it is important to have financial security for it. If you could not pay for your mortgage because of reasons out of your control, you could get a mortgage protection insurance policy that protects your family home if your circumstances were to change. Typically insurers will cover if you could not work due to illness, injury or redundancy. You can choose the amount of cover you need and add extra cover for your household bills too.
Life Insurance
A large majority of mortgage providers will insist on you taking out a life insurance policy, this is seen as security that your mortgage will be paid if anything was to happen to you. If you were to die during the term of the policy and the term of the mortgage borrowing then your outstanding debt and mortgage could be taken care of by a life insurance policy leaving your family debt free from the mortgage.
Gas and Electricity
Here at comparethemarket.com as well as helping you to find great prices on insurance, we also compare gas and electricity providers to make sure you don’t end up paying too much on your household utilities too.
When you compare energy with us you can search leading providers to find the best prices available on the market today, leaving you to spend your well earned money on more important things!
Broadband and Digital TV
Broadband and digital TV bills don’t need to be expensive, comparing broadband and digital TV enables you to find great deals on the market today that could reduce your monthly outgoings.
When you compare broadband you will need to consider the speed you want to have and your download capacity. You will also need to consider whether or not it would be more cost effective and beneficial for you to bundle your broadband with your home phone which could reduce the price you pay when combined.
Here at comparethemarket.com you can compare digital TV from a range of suppliers to bring you competitive deals on the market today that could save you money.
Home Phone
Do you feel that you are paying too much for your home phone calls? Compare landline packages around your usage patterns and find the best supplier; whether you are a light user or need to use your phone at anytime. Find one that suits all your needs and could save you money!
comparethemarket.com
We here at comparethemarket.com want to help you settle into your new home and make sure you have the right amount of insurance. Comparing insurance gives you a chance to view some of the best deals on the market today and could save you money.
What are you waiting for?
Get comparing with comparethemarket.com today!
Compare Home Insurance for your New Home