Choosing cheap home insurance purely because it's cheap could come back to haunt you when you have to make a claim. Find out more...
Buying a cheap home insurance policy doesn't mean you should expect a load of hassle to come with it.
However, not all cheap home insurance policies are the same; some insurance companies are cheap for a reason and will provide you with a poor overall experience if you need to make a claim.
Keep reading to discover why it pays to choose a reputable company for your cheap home insurance.
Peace of mind
For most people their home represents the biggest investment they've ever made. When it comes to cheap home insurance, going with a company you've never heard of could be a big risk.
Picking a reputable and well-established home insurer will provide you with the peace of mind that they'll still be in business if you ever need to make a claim and your home and contents are protected.
Claims procedure
If you pick a ridiculously cheap home insurance policy, the company may not have the resources to support it. Making a claim on your home insurance should be quick and easy, the last thing you want is to have to hang around on the phone for a long time just to speak to someone.
If a small home insurance company you've never heard of are dealing with your claim, they may not have the staff to deal with high volumes and you could be kept waiting for your claim to be settled.
If your cheap home insurance policy is light on detail, it could be a sign that you'll run into problems in the future. Things like new for old contents replacement after a flood being delayed can cause a great deal of inconvenience.
Lower premiums
Generally speaking, well-established and reputable insurers will be able to offer you a better deal than a smaller inexperienced company.
There are also a lot of well known insurers competing to offer you the best deal for cheap home insurance, which is unlikely to be the case if you go to a local company with no competitors in the area.
There are many reputable and customer focused companies out there who supply good value cheap home insurance quotes.
Your home is not something you want to gamble with, so if you get a very cheap home insurance quote from a company you're not so sure about, think carefully before taking the plunge and paying for the policy.
Buying a cheap home insurance policy doesn't mean you should expect a load of hassle to come with it.
However, not all cheap home insurance policies are the same; some insurance companies are cheap for a reason and will provide you with a poor overall experience if you need to make a claim.
Keep reading to discover why it pays to choose a reputable company for your cheap home insurance.
Peace of mind
For most people their home represents the biggest investment they've ever made. When it comes to cheap home insurance, going with a company you've never heard of could be a big risk.
Picking a reputable and well-established home insurer will provide you with the peace of mind that they'll still be in business if you ever need to make a claim and your home and contents are protected.
Claims procedure
If you pick a ridiculously cheap home insurance policy, the company may not have the resources to support it. Making a claim on your home insurance should be quick and easy, the last thing you want is to have to hang around on the phone for a long time just to speak to someone.
If a small home insurance company you've never heard of are dealing with your claim, they may not have the staff to deal with high volumes and you could be kept waiting for your claim to be settled.
If your cheap home insurance policy is light on detail, it could be a sign that you'll run into problems in the future. Things like new for old contents replacement after a flood being delayed can cause a great deal of inconvenience.
Lower premiums
Generally speaking, well-established and reputable insurers will be able to offer you a better deal than a smaller inexperienced company.
There are also a lot of well known insurers competing to offer you the best deal for cheap home insurance, which is unlikely to be the case if you go to a local company with no competitors in the area.
There are many reputable and customer focused companies out there who supply good value cheap home insurance quotes.
Your home is not something you want to gamble with, so if you get a very cheap home insurance quote from a company you're not so sure about, think carefully before taking the plunge and paying for the policy.