When it comes to most things in life, many of us err on the side of caution. We take extra measures to ensure our safety – and are happy to pay for that peace of mind.
And yet, when it comes to home insurance NI, there’s a surprisingly large number of people who don’t take the same precautionary stance. Many think they’ll never be one of the unlucky few to fall victim to fire, theft, or flood but this can be a damaging belief.
Part of the problem is also a lack of awareness or understanding on the part of homeowners, particularly those new to the game. Caught up in the excitement of finally purchasing a house, or in an attempt to save money, important factors such as a Home Insurance policy can be overlooked. This might best be illustrated in the ever-increasing number of Home Insurance policies taken out with banks.
Recent research found that 1.5 million homeowners believed they were obligated to buy buildings insurance from their mortgage lender, when this is actually not the case.
It may seem simpler if everything within the “finance” bracket can be kept under one roof – but you might seriously be losing out. Not only could you be paying much higher premiums, but you also run the risk of underinsuring your home.
For example, your building might be insured but what about its contents? Is your home fully insured?
An Abbey home is one that is covered for all eventualities. As well as offering comprehensive buildings and contents insurance covering you on a new for old basis, we can also offer you upgraded insurance to protect your buildings and contents against accidental damage.
As specialists, we can advise exactly what cover you need to ensure you’re fully compensated in the event of a claim. We understand how blurry the boundary between “buildings” and “contents” can be and aim to demystify the process for you.
It can be time-consuming to calculate the value of your home’s contents, but it’s fundamental to get it right. Underinsuring your home and possessions may seem like a reasonable cost-cutting option, but it can lead to major failings when making a claim. Consider for a moment how vigilant we are about our mobile phones; many of us take out insurance for this item alone which only constitutes a small fraction of the value of your possessions in their entirety.
At Abbey, our goal is to ensure your home is fully insured and at the best price.
With our new price promise, we guarantee to save you at least 10% on your home insurance renewal*.
* Terms and conditions apply. Offer applies to new customers only.