Buildings Insurance claims are something that Aspray deals with every day.
Your home can be exposed to all sorts of risks and hazards and unexpected damage can be caused by flood, fire, water, storm or impact to your home or business premises. These risks are what make buildings insurance invaluable to any property owner.
But… even if you have building insurance in place, not having the correct level of cover for your property or business could cause serious problems should you ever need to make a claim.
Changing the way we Purchase Buildings Insurance
In recent years, the way we look for and purchase home insurance has changed as the comparison website has become increasingly more popular. Now more than ever, consumers can easily compare the prices of hundreds of insurance products from the comfort of their own home, potentially finding the cheapest deal for them.
But, does this always way of arranging your insurance always provide you with the most suitable policy?
Why have Comparison Sites become so Popular and are they Really the Better Option?
Comparison sites may seem like the easy option when looking for a better deal on your home insurance. You can simply complete all your details and be presented with a wealth of choice, usually organised with the cheapest quote first.
This may seem ideal to those of us with busy lifestyles who still want the opportunity to shop around for the cheapest deal.
But, is cheap insurance also likely to provide all the cover you actually need?
Not always… The rise in comparison websites is said to have brought about a rise in competition amongst insurers who know they must appear near the top of any search results to be in with a chance of winning a sale.
Emma Simpson of The Spectator says, “This has led to stripped down cover and high excesses.”
At the time of purchase, you may feel like you have bagged yourself a bargain but, unless you are sure that your policy fully covers your needs, you may end up with extra costs to reinstate your property should you have to make a claim.
Not only this, to keep prices lower, some insurers charge a much higher excess (the first part of the settlement that is actually paid by the policyholder when they need to make a claim).
If you have ever used a comparison website, you may know that it is likely to ask you to state the amount of excess that you are willing to pay on your policy. However, this amount is usually your ‘voluntary excess’ and, when added to any ‘compulsory excess’ already included in the policy, you could be left with a much larger sum to pay than you originally expected.
Why use an Insurance Broker?
A Broker will often have access to a panel of insurers, or even the whole market and may well have access to products you could not purchase on the web. Buying your buildings insurance from a Broker could give you access to expert advice and help you gain the most suitable insurance for your needs.
By looking at your personal circumstances, your Broker could help you select the right policy, with the right cover, for your home or business premises. They can also check the cover with other policies you may currently have in place, this may reduce the risk of overlapping cover.
Brokers are likely to provide you with a personal service and therefore, they are more likely to spot if a need for any specialist insurance cover and let you know where any current cover arranged elsewhere falls short.
A final benefit of purchasing your insurance through a Broker is the help they may be able to provide should you need to make a claim on your policy.
Aspray works with numerous insurance brokers nationwide who refer our independent property damage claims management service to their clients should they be unfortunate enough to experience damage to their property. If instructed by the policyholder, Aspray could negotiate a fair settlement with their insurer and, working with vetted contractors, reinstate their property to its pre-loss condition as swiftly as possible.
What to do next?
If you decide to purchase your insurance from a comparison website, it may be important to check the policy wording and fine print to ensure that your property and possessions are adequately covered and you are aware of what is not covered should you need to make a claim.
Speaking with an Insurance Broker may provide you with added benefits such as a further understanding of the “small print”, as well as reassurance that your policy is more likely to fit your needs when you need it the most.
Need to Make a Claim on your Buildings Insurance?
Wherever you decide to purchase your home insurance, if you need to make a claim on your buildings policy Aspray could help. Call 0800 077 6705 to speak with our claims team or visit www.aspray.com for more information.