People in the UK waste a total of £508m a year on property insurance. How much are you overpaying each month?
With an abundance of insurance providers to choose from, it’s never been easier to drive down the cost of property insurance, such buildings and contents. Yet according to research by Your Money, home owners are potentially throwing away an average of £180 each a year.
This staggering statistic is even more compelling when you consider that nearly 12 million people do not obtain more than one insurance quote before arranging cover. That equates to more than 70% of household insurance customers!
Suppose you could spend an extra 10 minutes each year arranging your property insurance policy, to save nearly £200 for your efforts. What would you do with the extra money each month?
The truth is, in order to remain competitive, most financial organisations offer first-year discounts to new customers. This means that when you’re looking to renew your property insurance, loyalty counts for nothing.
We have helped contractors and freelancers save hundreds of pounds by simply shopping around and talking to the insurers that are running promotional offers. But don’t just take our word for it, here’s what some of our customers are saying about the the money they have saved:
“I don’t think I could have got a better deal anywhere.” Peter Harris
“C&F Mortgages got me a cheaper deal than I thought possible.” Greg Ferris
“I’ve saved a lot of money through C&F Mortgages and they made the whole process a breeze.” Sammy Kilgallen
The average contents of a family home are estimated to be worth more than £45,000. Are you adequately insured?
In todays highly unpredictable world, where natural disasters are hitting the shores of locations that have never witnessed the likes before, having adequate property insurance is a must. Whether you are a first time buyer or not, it must be also remembered that as soon as property is exchanged, the buyer is liable for any future damage to that property.
Property Insurance can be broken down into two kinds, Building Insurance and Contents Insurance. They are separate entities and you can either search for two individual deals, or buy them as a joint policy from one provider.
Building Insurance
This type of insurance refers directly to the structure of your house. When choosing a policy it is wise to make sure that it covers;
- The rebuilding cost of your property, at an unlimited cost basis.
- Accidental damage caused to any plumbing or electrical fixtures, eg. pipes, drains, cables etc.
- Accidental damage caused by subsidence etc.
- Natural disaster, storm and flood damage.
- Accidental breakage of fixed glass, like windows and sanitary ware, (toilets etc).
- Damage caused by theft and fire.
- Accomadation for you and your family whilst repairs are done.
Contents Insurance
Contents Insurance covers the belongings that usually reside in your home. These include the furniture, televisions, personal computers etc. You should make sure that as a minimum your policy covers;
- Accidental breakage to home furnishings including glass in furniture and mirrors.
- Accidental damage to any electrical equipment including satellite receiving equipment.
- Your home office equipment.
- Spoilt food from a fridge or freezer.
- Sentimental valuables like antiques and jewellery.
- The personal belongings of visitors.
One of the most important things you as a home owner can do to protect your investment is to insure your property and its content. But in doing so, there’s no reason why you should pay more than you have to.
Don’t fall into the ‘one quotation at renewal’ category. Insurers love the lazy home owner, which is why your renewal premiums can always be bettered if you choose to do something about it.
Thanks for taking the time to read this page. We look forward to working with you.
Sincerely,
The C&F Mortgages Team
p.s. Just think! We could save you £200 for the sake of a 5 minute phone call. Fill out your details below and let us find you a stonking renewal quote!
Please note: The financial advice given on this page is provided by Freelancer Financials, which is a trading name of Mortgage Quest Ltd and is regulated and authorised by the Financial Services Authority (FSA). Freelancer Financials will respect your privacy and adhere to the Data Protection rules as outlined in their Client Agreement, which should be read. Click here for a copy of the Freelancer Financials Initial Disclosure Document (IDD).
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