Maintenance

Combining House and Contents Insurance Policies

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Household Insurance & Contents Insurance Should be With One Insurer

Homeowners should insure their house and contents with the same insurance company to save money and to make things easier in the event of an insurance claim.

Homeowners need to have insurance for both house and contents. It is always best if insurance policies for both are taken out with the same company. There are three main reasons for this; it will work out cheaper, the policyholder can be sure that everything is covered, and in the event of a claim it will make the process much easier.

Save by Combining Home and Contents Insurance

Nearly all insurance companies offer a discount if more than one policy is held with them, and several companies also offer a combined house and contents insurance policy. This is often to the value of around 15% less than the cost of having separate house insurance and contents insurance policies. Multiple policy discounts are a great way to make savings on insurance.

Insurance companies may offer other discounts and rewards which can be attractive to purchasers. Flexible payments and policy excess options can vary from company to company.

Contents With One Insurer Can be Part of the Building With Another

Different companies have slightly different definitions of what are contents and what is part of the building. Although in general, buildings insurance includes permanent fixtures and fittings there are some grey areas about items such as light fittings which some home insurance companies classify as part of the building and others classify as contents.

By having building and household contents insurance with the same insurance company it does not matter how they are defined, as everything will be covered by the total combined policy.

Insurance Claims for Combined Policies Only Have One Excess

Combining building and contents insurance can make life easier, as there is one payment, one renewal and one company to deal with. When a claim for both home and contents is made for the same event there is only one excess to be paid. In the event of a homeowners insurance claim it should also make the process simpler and therefore quicker. This means there is less time spent on administrative tasks and more time for important things.

Everyone Should Choose a Policy That Suits Their Own Particular Circumstances

Different house and contents policies will have different options that will make some more attractive for each persons personal circumstances than others. These include options such as a choice of paying monthly or annual premiums, legal liability cover and cover for visitors contents. There may be optional add-ons for injury to pets and burning out or fusing of household electric motors.

In addition to the savings that can be made by combining house and contents insurance, there are other ways to lower the cost of premiums. Homeowners may be eligible for a multiple policy discount if they have other insurance products such as car insurance with the insurance company. Installing extra security at a home will often reduce premiums, and a higher excess can be chosen to reduce premiums.