Home Insurance Broker in UK | Call Us Now: +44 1592 649786 (2024)

FAQs

Home Insurance Broker in UK | Call Us Now: +44 1592 649786? ›

Welcome to Insure Smart, your trusted home insurance broker in the UK. Our commitment is to provide comprehensive and tailored home insurance solutions, ensuring that your home is safeguarded against unexpected events. Explore the range of insurance plans designed to meet the unique needs of homeowners like you.

Home insurance protects your home and its belongings. It can cover the cost of repairing or rebuilding your home if it's damaged by things like fire, storm or flood. And it can cover the cost of replacing the things in your home if they're stolen, or repairing or replacing them if they're damaged.

Taxes. Taxes to regulatory bodies and the government make up part of your price. Take Insurance Premium Tax (IPT) for example. If IPT goes up in future, this may impact your future premium when it's time to renew.

Check your bank/credit card statements for evidence of any payments. Call your insurance broker or financial adviser, if you have one. Ask your mortgage provider for details of the buildings insurance information you gave them when you took out your mortgage.

The average premium paid for a combined buildings and contents policy was £364 up £14 (4%) on the previous quarter. In the year ending Q4 2023 the average premium rose by 19%. For 2023 as a whole, the average premium rose by 13% to £341. The average buildings only policy was £284, up £12 (4%) on the previous quarter.

Buildings insurance isn't compulsory but it is advisable. Think about how you would afford to rebuild your house if it were damaged or destroyed.

Travelers is the most expensive homeowners insurance company for $200,000, $350,000, $500,000 and $750,000 dwelling coverage amounts. Rates vary significantly among companies because they each have their own formulas for pricing. That means it's vital to comparison shop homeowners insurance quotes when buying a policy.

If something happens to your home, it's worth thinking about whether you could afford to cover the cost yourself instead of claiming on your home insurance. This can protect your no-claims discount and help to avoid an unnecessary rise in your premiums.

Insurance claims history on a house

Homeowners insurance claims typically stay on a national property claim database called the Comprehensive Loss Underwriting Exchange (CLUE) for five to seven years.

Do home insurance companies share information with each other? ›

Yes, insurance companies share any information related to insurance claims on your CLUE report. Insurers use this information to assess the risk when someone applies for an insurance policy.

What Is Homeowners Insurance? Homeowners insurance, also known as home insurance, is coverage that is required by all mortgage lenders for all borrowers. Unlike the requirement to buy PMI, the requirement to buy homeowners insurance is not related to the amount of the down payment that you make on your home.

While there is no legal requirement for home insurance, if you are looking to obtain a mortgage or are re-mortgaging, providers might insist that you at least take out buildings cover as a condition of lending to you. This is because they are at risk too, as their money is secured against the property.

Homeowners insurance covers damage to your home, property, personal belongings, and other assets in your home. Your homeowners insurance policy may also cover living expenses above your normal cost of living if a covered loss forces you to stay elsewhere while your home is being repaired or rebuilt.

Property insurance includes homeowners insurance, renters insurance, flood insurance, and earthquake insurance.

Without a policy, you wouldn't be able to make a claim and would have to foot the bill yourself – which could be much higher than the price you pay for insurance. If you're buying a property with a mortgage, you may also find that your loan won't be approved unless your bricks and mortar are insured.