Home insurance quotes

What do you need to consider when looking for home insurance? Quotes can vary widely, as can the details of your policy, so it is important to be clear about your requirements – otherwise you could end up paying for cover you don’t need.

Home insurance quotes come in two main elements. Buildings insurance protects you against damage to the structure of your home together with its fixtures and fittings, and home contents insurance protects you against damage or loss of the items that you would normally take with you if you moved.  There is no obligation to buy both policies from the same insurer, but many do offer discounts for purchasing the two together.  And to compare home insurance quotes on a ‘like for like’ basis, the first thing you need to do is check whether the premium covers buildings, contents or both.

Insurers use the information you provide to calculate your home insurance.  Quotes are based on a range of factors including where you live, the value of your house, and the replacement cost of your possessions.  It is important to get this information right so insurers can provide accurate home insurance quotes.  For example, underestimating the value of your possessions might result in cheaper home insurance quotes, but could leave you underinsured – meaning you might be in for a nasty surprise should you need to claim.

So, when comparing home insurance quotes, check the cover limits for rebuilding your house and replacing your possessions.  Privilege provides buildings cover of up to £1,000,000 as standard to cover the cost of rebuilding your home and any outbuildings, but for other home insurance quotes you may need to provide a rebuild cost.

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