How To Obtain a Home Insurance Quote?
Home insurance is one of the first things you’ll need to have in place before you complete on your house purchase. This means that from exchange of contracts you are then liable for the house, which is where the insurance comes into play.
Although home insurance isn’t a legal requirement, majority of mortgage lenders will need you to have it in place in order to lend you the money.
What information do you need?
Basic information about your house
- The address of the property
- Number of bedrooms, stories, and people living at the address
- If the house if your main residence
- What year it was built and what materials it was built with
- The size of the property and land
- If there’s any outbuildings on your property
- If your property is liable to flooding
The security of your house
- The types of locks on the exterior doors/windows
- Fire/smoke alarms
- Burglar alarms
Your insurance history
- Any claims for insured losses you’ve made in the past 5 years
- Name of your most recent property insurance carrier
- Dates of when you last had coverage
The contents of your house
- If you have any valuable items in your house, they can be covered by your home insurance.
- This includes items such as jewellery and electronics.
You may be asked some additional questions, this all depends on the property you are purchasing, and its location.
What does my home insurance need to cover?
Your home insurance as standard will need to cover you for buildings and contents. There are additional extras, but these will depend on your needs with the property. This means that in the event of an accident, such as a non-fault house fire, you can claim on your insurance for what you lost.
This is also why we need to know the rebuild value of the house, in case it was to be destroyed. Then we know exactly what the cost would be to replace it. Again, this is why it’s important to know the materials it’s made of to know the rebuild cost.
There are different types of home insurance:
Standard Home Insurance
This is the cover which most people take out. Usually, it just means that the house is your main residence. It also tends to mean that the house is pretty standard in terms of the materials it was made with, and there’s no quirky extras.
Specialist Home Insurance
Specialist home insurance is usually for homes which are of high value, but also for homes which hold high value items. For example, you could have collection of paintings or expensive jewellery which you need to protect with your home insurance. This cover is for anything which doesn’t quite fit within your general standard home insurance policy.
Specialist Non-Standard Home Insurance
Specialist non-standard home insurance typically covers rental properties, unoccupied properties, properties with unusual risks, and more.
How much excess do I pay?
Now this question will be very dependent on your home, the location, and what kind of cover you choose. Of course, it will be cheaper if you pay your insurance annually rather than monthly.
If you want extras such as accidental damage, this will increase your premium. However, this is a very common extra as it can be very convenient in case something happens.
Where can I get a home insurance quote?
You can get a home insurance quote right here at Carbon Insurance Brokers. Our expert team are on hand to help you get the best cover for you and your needs. Whether you’re simply moving house, a first-time buyer, a landlord, or someone buying a holiday home, we’re here for you.
To find out more, make sure to contact us to speak to a friendly member of our team. We can run you through your options, and make sure you know exactly what it is you need.
