Home Insurance: 5 smart tips

How important are your house and your belongings to you? Having the right kind of home insurance is crucial if you want to protect your most prized possessions from the potentially devastating effects of accidents, fire or theft.

With so many different options, additional extras and terms and conditions involved, the process can be tricky to navigate. That’s why we’ve put together this list containing a few handy tips to point you in the right direction.

1. Take out a two-year policy. This simple but effective step could save you up to 15% compared to taking out two consecutive one-year policies, and potentially save you a lot of hassle in the process. Just be extra careful that the terms of your policy are right for you.

2. Get the appropriate amount of cover. There are two parts to insuring your home: building cover and contents cover. When you’re trying to calculate your building cover, might seem like a good idea to calculate the sale value of your property and go from there but in many instances a total rebuild won’t cost that much.

With regards to your contents, value all items separately and choose an appropriate amount of cover.

3. Don’t invalidate your policy. A number of different oversights could invalidate your policy. If you receive an alarm discount, for example, the alarm must be set whenever the house isn’t occupied. If your house gets burgled and your alarm isn’t set, your insurance provider may not pay out.

Flat roofs must be mentioned in your application as they need to be specially insured.

Your policy may also be invalidated if you don’t reveal all the previous house insurance claims that you have made..

4. Include new purchases when you renew. When it’s time to renew your policy, it’s important to take new purchases into account and get them covered. Forgetting to do so could leave you short if the unthinkable happens.

5. Shop around. Prices can vary greatly from company to company so be sure to get quotes from multiple providers. At GMIB.ie we do all the hard work for you. Simply get a Quick Quote online and we’ll find you the best deals on the market.

For more information on a whole host of interesting topics, check out our earlier blog posts or get in touch with us today.

Take care,

The Team at GMIB.ie