Compare cheap home insurance quotes

How much does home insurance cost?

According to the AA British Insurance Premium Index, the combined home insurance policy and its contents cost around £161.75 a year, making it £3.11 a week. The contents insurance covers all the items inside your house that are not part of the construction. The policy further protects against unexpected events such as fire and theft.

However, you can add extra cover such as personal possession cover and protection for your items if you’re going abroad. The average cost of contents insurance is about £59.22 per year. Similarly, there exists building insurance that covers the property itself together with its fixtures and fittings. The building insurance policy costs £111.83 per year on average in the UK. You should compare different home insurance policies to find the one that matches your budget.

51% of consumers who purchased Home Building & Contents Insurance through our partner Seopa Ltd in August 2020 got a quote for less than £142.15.

How to minimize the cost of your home insurance?

Home insurance can be expensive if you fail to get the right package. Irrespective of what package you choose, you can cut down the cost by taking a few steps.

• Avoid getting the coverage you don’t need. There can be add-ons in the insurance packages, such as home emergency and accidental damage cover, which you might not require. Think through and remove the ones unnecessary for you.
• You can pay the premium annually, monthly, as well as in upfront payment. If you wish to pay in instalments, always go for the policy's annual fees, as it would be cheaper.
• Another way to save is to make sure you do not over-insure. You must calculate the value of your house and contents and get insurance coverage that matches the value.

What affects the cost of home insurance?

Many factors contribute to the cost and help you compare house insurance. For instance, the location of your house has a big impact on the insurance rate. If you live in a posh region, the insurance cost is likely to be high. Similarly, your house's price and the cost it would take to repair it also lead to a higher insurance cost.

Furthermore, the more coverage you have on your policy, the more you have to pay. The standard protection includes personal belongings, protection against lawsuits, and living expense if you relocate. Any other security you take would push up the cost.

Moreover, owning an old house with outdated material may cost higher to insure. It is because the material could be expensive to replace in case of damage.

What types of home insurance are available?

Household insurance come in the form of building-only, contents-only or combined cover. The building insurance protects the items used in the construction and the house itself. It covers the repairing or rebuilding of the house if it gets damaged by natural disasters, floods, fire, smoke, explosions, the collision of vehicles or animals, and similar events. Fixtures and any outside structures related to the house, such as sheds, also fall under the building insurance protection.

Contents insurance covers all those items that are not part of the house structure but are inside the house. Examples include furniture such as sofa and beds, electronic items, mirrors, and similar content. This insurance provides coverage against damage or loss to these contents due to theft, natural disasters, fire, flood, smoke, vandalism, water leakage, and like events.

However, the contents insurance does not protect against depreciation and general wear and tear. In most cases, you can also claim accidental damage loss caused by breakages and spillages. Contents insurance does not cover items that fall under other insurance policies.

You can also compare landlord insurance UK at our site. It provides cover for your building as well as the furnishings within it. Besides, it covers you against any legal liability you might have to pay if your tenant gets injured at the property. You can enhance your policy by purchasing add-ons that further protect you against loss of rent if the tenant moves out and any unexpected damage to the property whilst it is empty.

*51% of consumers who purchased Home Building & Contents Insurance through this service provided by Seopa Ltd in August 2020 were quoted less than £142.15. The price you could achieve is dependent on your individual circumstances.