Online mistakes increase home insurance cost - Household insurance

Posted : 23-07-2008

A new study has suggested UK homeowners could be paying too much for their household insurance cover.

The research by comparison site Confused.com suggests ten per cent of people make mistakes when searching for home insurance cover over the internet, which could push up their costs.

When asked to enter the rebuild cost of the property, some input the full market value of their home, which is often significantly higher.

"This means that, potentially, tens of thousands of UK homeowners could be wasting money by forking out on a level of buildings insurance that they simply don’t need," the website said.

However, it also emphasised the importance of not undervaluing the rebuild value of a property and reminded owners of unusual homes or period houses to ensure their home insurance cover is over a high enough to restore the building to its original condition.

Yesterday, Confused.com reminded homeowners that the fact burglaries in the UK are not increasing does not mean they can neglect security measures or household insurance.

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