So, what’s the cheapest type of home insurance?
Firstly it’s worth us explain the different types of home insurance. There are two main types and it’s easy to explain these. If you were to tip your house upside down with the roof off and shake it about, everything that stays in place (such as the building structure, fixtures and fittings) is covered by a buildings insurance policy and everything that falls out (such as clothes, electricals and jewellery) is covered by contents insurance. These are the two main types, but it’s worth knowing that when talking about home insurance, we’re typically talking about building and contents combined – but you can also purchase them separately. Look out for options for over 50s and over 60s too.
Now you know the difference between the two types of home insurance, let’s talk costs. When it comes to cost, we know it's tempting to grab the cheapest home insurance deal you come across. But remember you need a policy that can cover everything you need, the cheapest option may not offer you enough cover. So, it’s important to take into account how much your house and contents are roughly worth before taking out a policy, and make sure you have enough cover so you're not underinsured.