Home Insurance Niche

House insurance in India is regarded as largely a safeguard of low significance.

Most of us do not go for House insurance. Why insure home, we ask. Only an insurance agent would tell you why you should go for insurance for your house. It may catch fire. We live in an earthquake prone zone and it is highest on the Richter scale. Your house may be exposed to burglary and there could be several reasons for you to go for insurance.

But then you give it a thought for a moment. You realize you have not heard even remotest of your family or friends having ever been affected by such accidents.

If Gujarat quake had happened close by you would have immediately gone for House insurance without the agent doing much selling. The region recorded one of the highest number of insurance policies sold in the history of insurance business after the quake.

But quake in Gujarat is a history now. Unless it repeats the spurt in the business is unlikely. Home insurance in India is regarded as largely a safeguard of low significance. Often such are policies are institutional in nature or are ones availed by large business houses or top executives. Then there are big housing societies which would opt for home insurance. House insurance companies in India too give home sector a small consideration. The major chunk of the insurance business is taken by vehicle, life followed by insurance-cum-investment instruments.

Article Source: http://EzineArticles.com/438464

Making Your Home Safer to Get the Best Home Insurance Offers

Read to Know How Home Insurance Policy Protects Your Home

It takes a lot to build a home. It is both time and energy consuming process. It takes extreme labor, efforts and pain from you. Every single brick used for the construction of home is a priced-possession bound in emotional ties. It is for the fact that buying insurance is the perfect decision. There are several companies in India that provide every possible attempt to protect your home from various hazards and risks such as burglary, damages caused by natural and man-made disasters etc.

Features of best Home Insurance Policy

In fact, purchasing the best home insurance plan is a seamless option that strengthens you with risk coverage to the structure and/or its contents of your home against unforeseen misfortunes. In regards to a comprehensive home insurance policy, it should include loss that happens to one's, its contents, loss of use (extra living costs), or loss of other personal possessions of the homeowner. The plan also features liability insurance for accidents that may happen at the hands of the homeowner within the policy territory.

Coverage area of Best Home Insurance Plan

There are many reputed companies in India that offer across-the-board home insurance plan. The plans are designed in a way to guard customers and family against a wide range of perils and risks. When you are going to buy home insurance policy online, ensure the coverage areas. Mainly, the best policy provides protection for the policy holder's entire assets, interests, liability and those of their family.

Indeed, a good insurance plan is drafted to provide comprehensive protection to the policy holder, ranging from Burglary and other Perils (dacoity impact damage by falling trees/electric poles/lampposts, breakage or collapse of television or radio aerials /satellite dishes), all valuables ( watches, jewellery items, gold, silver, clocks, video cameras, musical instruments, guns, etc), and many more things such as Electronic Equipment, Home Enterainment Equipment, Portable Computer/Mobile Phones and Pedal Cycle, Loan Payment Protection, Increased Living Expenses and so on.

Advantages of Home Insurance Policy

No doubt, your family and home mean everything to you. You show not only care and love to them, but also you have given most part of your time and money to them. However, it is fact that you cannot safeguard them all the time from all possible risks, but you can take certain steps to guard them. Yes, you can ahead for some steps in order to save them from any unanticipated event that can completely break your life and your dreams. You should opt for Home and Family Protector Insurance, which is just the right kind of Policy to provide protection for your family and against these uncertainties.

To add more, Home and Family Protector Policy is designed with the aim to offer one single Policy to various householders. It is because of that fact that under one cover they can have a total insurance protection. Apart from the protection for your household interests, assets, liability and for your personal self, etc., your family members and domestic employees will also be covered. Thus, it leaves no insurance gaps. You can find a trusted insurance company online and buy home insurance policies online through hassle free way.

http://www.sooperarticles.com/finance-articles/insurance-articles/read-know-how-home-insurance-policy-protects-your-home-1303037.html

The Standard Things to Know When Looking For Home Insurance

Decrease your homeowner's insurance premium by purchasing a light up and fire security alarm method in your residence. Not merely performs this protect you fire, numerous insurance firms provide policy savings on homes safeguarded from a smoking or flame security alarm system. In a more aged household without having typical mounted alarms, putting in alarms could help you save on your superior and safeguard your family.

If you can, pay back your house loan to save cash on your own Home insurance policy. When a person owns their property outright, instead of paying a house loan each month, insurance providers look at them as customers who are more likely to take care of their house. Due to this, many organisations will offer you them reduced yearly rates. The moment your house loan is paid out away, make a contact to your insurance coverage representative hence the cost savings can start.

When confronted with the roof above your head, you should obtain the property owners insurance plan that most closely fits your look of residing and needs. Many people may possibly consult nicely round residence owner's insurance as abnormal, nevertheless, people have heard the existing saying "better secure than sorry!." It is essential to take time to know every one of the nooks and crannies in your plan, don't hurry into an inferior policy.

The types of content your home or outbuildings are constructed with can severely influence the sum you shell out to make sure them. Getting something which is timber framed will set you back more because it is far more flammable. Creating with concrete and steel is going to be more unlikely that to burn, and therefore cost significantly less to insure.

You might be able to get a price reduction on your home insurance when you have a safety program or alarm system. It's not sufficient to possess community alarm -- to be eligible for the discounted, you typically have to have a supervised service, and also the insurance carrier will demand proof of this, so come up with a version of your watching program arrangement to provide them.

When maintaining information of the possessions in the case of the need to location a declare, have images associated with an important or huge solution things. The images are often accustomed to prove value, and track down similar items to determine replacement expense. Have a duplicate of your photos within a protection down payment box at your banking institution.

Most fundamental household owner's guidelines only include jewelry for one to two thousand bucks. If your jewellery is worth more than that, you'll have to add more protection to the coverage. This can enhance your quality but will be worth it regarding burglary, flame, or other losses of your goods.

In case you run a residence-based company, you may not have access to business liability insurance in your Home insurance coverage! You must contact your insurance carrier and have a different insurance coverage to protect any damage or harm your company may cause. As an example, if you have daycares you have to get yourself a different insurance policy in case any of the children are hurt.

You shouldn't confuse your purchase cost with the money it will take to repair your property. The whole lot your own home sits on is in the purchase value, but it really won't burn up lower. Make sure your home for simply how much it will price to repair it, plus the price of your possessions and discover in the event you haven't been purchasing an excessive amount of insurance.

To stop potential problems when filing boasts, be sure that your higher worth possessions are covered. Because of plan limitations, a few of the more expensive things you very own may not have automatic insurance coverage. It is possible to ensure your belongings are cared for by adding a certain endorsement to the insurance coverage.

http://www.sooperarticles.com/finance-articles/insurance-articles/standard-things-know-when-looking-home-insurance-841875.html

Home insurance

Property Insurance Is In Great Demand

Nowadays, home loans come tagged with property insurance and most people prefer it that way.

Banks are also comfortable with this trend have come forward to lend finance to pay the insurance premium. Home insurance or Property insurance offers a safety net which has become important in the context of people going for bigger loans because of the unprecedented increase in property rates. Borrowers as well as banks do not want to take chances.

When a borrower takes Property insurance, he can be sure that banks would not pounce on his family if he dies before repaying the loan. Also, in case of fire, theft and damage to property in natural calamities, the borrower gets compensation from insurance companies. Banks which sometimes face difficulty in recovering the loan amount from dependents, are now advising applicants to go for Property insurance. The banks usually pay the premium themselves and adjust it in the monthly installments being paid by the borrower.

Article Source: http://EzineArticles.com/1096246

Cheap Home Insurance - Your Location Is Costing You

There are many points that will always make it easy you aren't to get cheap property insurance. Location is at least one and we'll observe it ascertains how cheap the house insurance premiums are. We'll likewise see learn to get cheap rates on account of, or even though, our household location. You'll pay more pricey rates when you get your dream house in some sort of neighbourhood that's only some sort of volunteer flame service in preference to a full-time flame service.

Also, how close your property is to some sort of fire section or hydrant will probably affect ones homeowner’s insurance policies premium. But if your house is usually nearer to help such establishments; you'll fork out cheaper home insurance costs. You will work well also to get your home seeing that close as is possible to some sort of police section. These likewise will assistance in lowering the house insurance advanced. Buy the house as miles away from problem areas as you're able.

Insurers view homes such neighbourhoods seeing that bad pitfalls and better rates are classified as the unavoidable end result. And, despite the fact that think some sort of neighbourhood is usually a crime-free spot, do you’re foremost to check. You can buy out by means of inquiring by a broker or having a quotes web page. A house may very well be on these borders connected with crime zones and as a consequence result with nearby avenues being collected to unique districts regarding crime pace.

This is critical in spite to the fact that it's definitely not usually component of a householder’s policy. Homes with flood-prone locations will not be regarded to be properly insured with not a flood insurance cover and it indicates around $500 each year. Every mortgagor will need that you've got flood insurance policies if your property is in some sort of flood-prone location. Apart from when you really imagine such more spend is usually a wise skimp on, you'll expend less when you buy your dream house in a space that won't require flood insurance policies.

One sure strategy to guarantee low cost home insurance policies is when you get in addition to comparing prices from as much as five insurance policies sites. You can certainly save some hundred dollars or more depending with your profile along with factors.

[Source: http://freeinsurancecompanies.blogspot.in/2013/01/cheap-home-insurance-your-location-is.html]

House Insurance

How to protect your home with insurance cover?

Your house is like a heaven on earth. In life, people work hard day-in and day-out to finally build a castle of their happiness. A house owned is the most important dream of your life. However, natural calamities, or stealing and burglary are some of the incidences that don’t knock your door to damage your house or inside property. They come unexpected and can shatter your dreams in minutes forever. This will not only be a huge financial loss but also a mental setback and physical pain of rebuilding your dream once again. One of the best modern day tools to cope with the financial losses would be purchasing home insurance policy.

A home insurance is form of property cover designed to protect an individual's home against damages to the house itself, or to possessions in the home. Homeowners insurance also provides liability coverage against accidents in the home or on the property. Ideally a home cover protects the structure of your house and its contents from calamities like earthquakes, floods, fire, explosion, cyclones, lightening etc. Also covered under insurance are things like theft and burglary. When there are losses that include in the list of documents mentioned by insurance company, the insurer pay on the basis of the house’s reconstruction cost. The value is calculated on the basis of the built-up area and the construction cost, generally fixed by the company.

There are mainly two types of insurance in India:

Building insurance: A building cover is important part of home insurance. Most housing loan companies have made it mandatory for any project to have building insurance before they sanction any loan. This cover protects only the structure of the property. It insures the amount that you would need to reconstruct the house, in case damage is done to your property.

Content insurance: This policy covers things inside the house. Many people keep expensive ornaments, gold and silver etc. in house. At this time this insurance becomes very valuable if there is any crime of stealing or burglary. The amount of money is assessed as per either how much it will cost to replace it or according to its current market value. Besides, other than jewellery the insurance also protects your valuables against fire, theft, accidental breakage, damaged caused to electric appliances due to electrical and mechanical breakdown.

Things to remember before you buy

While covers and premium rates vary slightly from insurers to insurers, shopping home insurance is not very difficult. However, there are a few things you should keep in mind.

Adequacy:

The sum insured will be the basis of compensation therefore it should reflect the correct property value. Most people mistakenly choose the insurance amount compared to market value. However, you need to bear in mind that company pays on a reinstatement basis, which keeps fluctuating with construction costs. Generally you can take around 10-15% hike in the construction costs and quote for an insurance amount. If possible check construction rates from the Municipal Corporation or real estate websites.

Tenure:

You can either go for an annual cover or choose a multi-year policy. The benefit of annual home insurance policy would be it gives you the option to revisit the sum insured's adequacy every year. If you feel so that there are any changes in property, asset or place value you can increase or decrease the cover accordingly. Besides, in long-term policy you can get discount which can be as high as 50%, depending on the tenure.

Service Level:

Home insurance is very tricky concept. Although all policies might look identical it’s the service that makes them stand out differently. It will be wise to check the claim settlement procedure, simplified process and prior records of the insurer. A customer-friendly approach for reporting and handling of claims will be of immense help in the event of a loss.

A person invests his or her life savings in buying a house therefore it is important to get it insured to protect your interest as an Individual/family, to protect yourself/in case you have taken housing loan and last but not the least to protect yourself from third party liability. 

Types of Property Insurance Coverage

There are Twelve types of Property Insurance coverage

Replacement cost coverage: Replacement cost coverage is the type of property insurance that will always make sure that the cost of your property assurance is being paid regardless of downfall or increasing of currency. Replacement cost coverage is made easy so that property insurance client, spend less money to get new same type of product that the assurance company does not consider to pay.

Explosion Insurance: Explosion allowance coverage is a kind of insurance policy one needs to have, this kind of a insurance is designed to protect and cover the loss of property due to explosion.

Fire Insurance: This is a type of property allowance that basically concentrated to damages caused by a fire. Fire assurance coverage provides the protection for damage caused by a fire into your property.

Aircraft Insurance Coverage: Aircraft allowance coverage is kind of insurance that deals or designed to protect your property in case the Aircraft crush on your property.

Home Insurance: Home provision covers both property and Liability,using single premium which covers for all risks. Home Insurance is also known as multiple line insurance coverage, it covers private homes also bond's various types of personal Insurance.

Theft Insurance: Theft insurance is the kind of property coverage that covers the damage of the property due to burglary, theft etc.

Riot/Civil commotion: This is a type of property coverage that protect or covers your property from the damage caused by the Riot. It covers the cost caused in violent disturbance caused by four or more people in your property. types of provision include an aspect of liability coverage. For example, a homeowner's insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability provision that indemninate against the harm that a crashing car can cause to others' lives, health, or property.

Volcanic Eruption: Volcanic Eruption is a kind of property provision that covers your property against the explosion caused by Volcanic Eruption.

Hail Insurance: Hail Insurance coverage is a kind of insurance cover that protect your property against losses due from hail.

Hurricanes: Hurricanes Insured coverage is the kind of insurance that is designed to cover or protect your property against the losses caused by hurricane

Flood Insurance: Flood Insurance coverage is a kind of property insurance made to cover your property from the damage caused by floods into your property.

Earthquake Insurance : This is a kind of property allowance that is design to cover the damage that has been caused by an earthquake to your property. Rates differ rates are determined on the location you are situated in. Homes made of wood have cheaper rates than Homes made of brick.

Source:[ http://homeinsuranceindia.weebly.com/home/types-of-property-insurance-coverage ]

home insurance

HOUSE INSURANCE

Buy Home Insurance / House Insurance Policy which will protect not only your home, but also the belongings / content inside it.

Home Insurance Brokers Toronto Can Bring In Best Deals In Insurance Policies

We are living in a world there are a number of activities taking place around us. It is quite difficult to predict a fact that whether a person can reach home safe after going out. Even when people are thinking this manner, there are a number of uncertainties taking place in most of the houses, where they become prey to some of the worst accidents that can paralyze the entire family in a manner such that they cannot able to recover from the damages caused due to the incident throughout the lifetime.

It is a must for a family to have insurance for their home since it is quite easy to recover from the problems that have taken place in the house in a very easy manner. When people have to find brokers for the purpose of health insurance or other sort of insurance for vehicles and other properties, there will be handful of choices available. It is quite difficult to find home insurance deals since it is a process that involves estimation of a number of assets in a house starting from the door to the costly items present in the house.

Claiming under insurance

Insurance money for house insurance will be quite higher than other sort of insurance since they are actually the claims provided for the purpose of recovering the entire house, not just for the purpose of building the house again or to pay for only the items that are listed in the sheet at the time of document. Since the amount need to be paid is quite higher, home insurance quotes are rarely available.

When home insurance brokers Toronto are available for assistance, there is no need to fear about the insurance policies since they will bring in tons of policies available in the market in the home insurance that can suit well for the budget a person is interested to put in the aspects of premium that need to be pain in some periodic intervals. There are different types of insurance policies available with them that can able to provide better coverage for the entire house and the properties inside the house.

Whenever there is any need for insurance for home, they can be consulted directly without any intermediate person involved. Since the broker for insurance policies can be contacted directly, home insurance brokers Toronto offers superior services than any other kind of brokers available for finding best policies.

With the experience they have in this field for several years, then can able to bring in the range of policies, both new and the existing one for notice of people and assist them to go with the kind of policy that can fit for their purpose perfectly. Since home insurance brokers Toronto are available through means of online, there is no need to concern about finding them in person. For serving customers in a better manner, they are offering all kind of solution for finding insurance policies directly to their customers through means of online.

[Source: http://homeinsuranceindia.weebly.com/home/home-insurance-brokers-toronto-can-bring-in-best-deals-in-insurance-policies]

House Insurance

Buy Home Insurance / House Insurance Policy from Bajaj Allianz, which will protect not only your home, but also the belongings / content inside it.

House Insurance

Buy Home Insurance / House Insurance Policy from Bajaj Allianz, which will protect not only your home, but also the belongings / content inside it.

Home Insurance

Should You Choose a High Deductible Health Insurance Plan?

As “consumer-driven health care” (CDHC) becomes increasingly popular, you may soon face the decision of whether to switch to a high-deductible health care plan with a health savings account (HSA) if you don’t have one already. 

The basic idea is that your health insurance premiums are lower but you have to pay more out-of-pocket (the deductible) before the insurance kicks in. To help you cover those higher out-of-pocket costs, you and your employer can contribute pre-tax to a health savings account, which allows you to use the money tax-free for qualified medical expenses like a medical FSA.  

But unlike an FSA, any money you don’t withdraw can be carried over indefinitely and used for any purpose without penalty after age 65. In fact, you might even want to pay your medical expenses out-of-pocket if you can and let your HSA grow to be used tax-free for health care expenses in retirement. Some HSAs allow you to invest in mutual funds for that reason. (This the health insurance plans we have at Financial Finesse.)

The general rule of thumb is that these high-deductible plans are best for the “healthy and the wealthy.

” In other words, the less health care you use, the more you can afford to put away in your HSA, and the higher your tax bracket, the more likely the high-deductible plan will make more financial sense for you. On the other hand, if you have a lot of health care expenses or are in a low tax bracket, a more traditional low-deductible health insurance plan may be better for you.

I recently spoke to someone on our Financial Helpline who seemed to fit the latter profile. He estimated that he would use the entire $2,400 deductible for the high-deductible plan and he’s only in the 15% tax bracket so he wasn’t sure that the HSA would be very beneficial. To make sure, we decided to crunch the numbers, assuming he spent $2,400 in health care expenses. (After that, both plans would have the same co-insurance covering 80% of his remaining costs.)

If he chose the low-deductible plan, he would pay $4,692 in premiums, $800 as his deductible, and $320 in co-insurance (20% of the expenses after the deductible) for a total of $5,812. 

If he chose the high-deductible plan, he would pay only $3,384 in premiums but $1,600 towards his deductible (his employer would contribute $800 to his HSA) for a total of $4,984. In addition, if he contributed that $1,600 of out-of-pocket expenses to his HSA, he’d get an additional $240 in tax savings. If he spends less than $2,400, the high-deductible plan becomes even more favorable .

So even though it appeared that he was a better fit for the low-deductible plan, the high-deductible plan ended up saving him more money even without contributing to the HSA. Adding the tax savings from the HSA and the possible savings of potentially spending less than $2,400 on health care was gravy on top. 

Here are some things you want to make sure you factor in before making your own decision:

1)      What’s the difference in premiums, deductibles, and co-insurance between the plans?

2)      Will your employer contribute to your HSA?

3)      How much can you save in taxes by contributing to your HSA?

A wrong decision can cost you hundreds or thousands of dollars each year so don’t just jump to conclusions. Instead, answer those questions and run the numbers. The result may surprise you.

[Source: https://besthealthinsurancepoliciesinindia.wordpress.com/2015/11/20/should-you-choose-a-high-deductible-health-insurance-plan/

Tips for Buying Homeowners Insurance

Homeowners across the country value what they have: their homes and what’s inside them. Homeowners insurance protects your home and personal property. It also provides liability protection plus more. But over time, things change. To better understand how homeowners insurance works and what you need to know, Designing Spaces met up with one homeowner and an Allstate agent

Homeowners insurance can be a very expensive proposition but of course it’s essential it can protect your home against fire flood in even earthquake. Feel this can afford to build our homes for scratch and so earthquake is essential there are several ways to reduce your home owner’s insurance costs.

1.  First maintain a security system and smoke alarm in your home a burglar alarm can help lower your annual premium by up to 10 percent usually it’s required that it be monitored by a certain station but it’s good protection especially in these days of tough economic times smoke alarms are standard in most modern homes these days but installing them in all their home can save you 10 percent or more on your insurance bill.
2.  The second way to lower your insurance bill is to raise your deductible the higher your deductible the lower your annual premium you will be responsible for damage up to the cost of your deductible and your lender way limit the amount of that deductible.
3. Third look for multi policy discounts many insurance companies give a discount maybe if 10 percent or more if you have more than one policy with them this could be an auto or health policy in addition to your homeowner insurance. 
4. The fourth way is a little off the wall but if you pay off your mortgage your homeowners insurance will go down because companies assume that if you own your home outright you’ll take better care of it.
5. The fifth way to lower your home insurance bill is a senior discount if you’re over 50 and are willing to admit it you might be eligible for a discount insurance companies have different names for age preference policies they’re often called everything from senior discount to mature policy discounts if you qualify why not go for it.
6. And the sixth way to reduce your home insurance bill is to regularly review and compare your policy at least once a year compare your policy to other insurance policies available on the market you should also review your existing policy and note any changes that could lower your premiums also make sure that you have all the coverage that you need. 

Homeowner insurance is in this essay the while there are many ways to save money you should shop wisely there were some features that homeowners shouldn't skimp on when you’re buying homeowner insurance and you should know the difference and then shop around.

[Source: http://eduinsuknowledge.blogspot.in/2015/04/tips-for-buying-homeowners-insurance.html]

How to Choose the Best Home Insurance Company in India

The prices of home insurance can vary. This is why it is important to shop around for the best home insurance in India which can provide adequate coverage without burning a hole in your pocket. Most people avoid taking a home insurance policy just because they think that the sophisticated alarm systems and locks that they have installed are adequate for protecting their home. However, despite the best protection measures there is always a risk of thefts and damages caused by natural disasters. This is why there is a need for a taking a home insurance policy which is a much more concrete step in covering these risks.

Along with the price and the type of cover, it is also important to check the home insurance company while comparing the policies. Here are some

Tips for Choosing Home Insurance in India

Check the Premium and Coverage

The first thing you need to do is evaluate the risks your home faces. For example, if you live in an area that is prone to natural disasters such as floods, then you should ensure that the policy covers these risks. Apart from natural disasters, your home insurance policy should cover against the financial loss caused by the damage to the structure and/or contents of your home due to man-made disasters. The policy should also cover jewelry and valuables. For example, home insurance policies by Bajaj Allianz General Insurance cover jewelry and valuables in the event of burglary, house breaking, waylaying, and snatching.

While checking the coverage, it is also important to check if the premium for the home insurance policy fits your budget. You can solicit quotes from individual insurers or use price comparison sites to compare quotes online.

Look at the Service

The hallmark of a good insurance company is the customer service standard of the company. Does the insurance company have a good turnaround time? Does the company have knowledgeable customer service representatives who can resolve your queries while buying the policy? The company should be equipped to assist you at virtually any time and the service standards of the company should be high.

Know the Claim Settlement Ratio

Your premiums may be low but it may be fruitless to opt for the company if the claim settlement record of the company is not good. The very purpose of insurance will be defeated if the claim is not provided for when required. Check the company’s claim settlement ratio along with the duration for claims settlement while looking for the best home insurance in India.

Focus on Financial Stability

The financial ratings of the company are important to assess the financial stability of the company. For example, ICRA has reaffirmed IAAA rating to Bajaj Allianz General Insurance Company Limited. The rating indicates highest claims paying ability and shows the fundamentally strong position of the company. This is indicative that the prospects of meeting policyholder obligations are among the best.

Keeping these factors in mind can help in choosing the best house insurance company in India and find the cover that suits your need and your budget.

[Source: https://support.bajajallianz.com/support/how-to-choose-the-best-home-insurance-company-in-india/]

First time buyer home insurance explained

Buying your first home can be a daunting experience and with a million and one things to do; it’s easy to overlook the basics. However, no matter how hectic things get it’s essential to arrange the right home insurance; otherwise if things go wrong you could be left seriously out of pocket.

Recent research has thrown light on the lack of understanding amongst first time buyers surrounding certain aspects of the purchasing process. Nearly half of those questioned admitted they hadn’t budgeted for buildings insurance when calculating costs and a third were unaware that buildings cover was needed to get a mortgage.

When it came to getting an insurance quote over half ‘guessed’ vital property details and more worrying still one third arranged cover with inaccurate details. Estimating rebuild costs proved a common area for misunderstanding with a quarter of first time buyers simply using the purchase price. 

It’s an expensive mistake to make as rebuild costs are usually significantly lower than the property price and that means lower insurance premiums. An accurate calculation of your property’s rebuild costs should be included in your surveyors report.

First time buyers often assume their mortgage provider is best-placed to arrange home insurance, and are surprised to find how easy it is to find great deals elsewhere. As with all financial products it’s important to shop around and if you choose a reputable broker they’ll do all the hard work for you.

While buildings insurance is a prerequisite to get a mortgage; contents insurance provides a cost-effective way of protecting your possessions against fire, flood and theft. Buying your first home can be financially taxing and nearly half of those questioned didn’t have contents cover, saying they either couldn’t afford it or they didn’t need it.

Again the figures point to an unfortunate lack of understanding, and perhaps if first time buyers knew that the average home contained £55,000 worth of contents and the average policy cost just under £2.50 a week, they might think differently.

If you are a first time buyer looking for a great deal on your home insurance, you’ll have to go a long way to beat Quoteline Direct. With over 45 years’ experience we’ve got access to some great deals and our experienced consultants can help with any tricky questions.

[Source: http://homeinsuranceindia.tumblr.com/post/132662311452/first-time-buyer-home-insurance-explained]