Check you have the right amount of home insurance
Overestimating your home insurance means you could end up paying over the odds for your policy. When you take out buildings insurance, it’s likely you’ll want to ensure it covers the cost of rebuilding your home. The rebuild value is the amount it would cost to rebuild your home at the same location if it were completely destroyed by fire, flood or any other insured disaster. If you’ve been mistakenly taking out buildings insurance based on the market value of your home, you might be able to save money on your insurance as the rebuild value could be a lot less. If you don’t know what the rebuild value of your house is, don’t worry. When you start a quote with us, we’ll help you to work it out.
When you take out contents insurance, your insurance provider will want to know the total value of your possessions. Try to be as accurate as you can; if you overestimate, then you’ll end up taking out more insurance than you need, which again could mean you pay a premium that’s too high. If you underestimate, then you could find yourself underinsured and the payout you receive from your insurance provider might not cover the full amount of any loss. Need some help? Read our guide on how to estimate the value of your home contents.