For many, having a home insurance policy in place is a legal requirement when taking out a mortgage. More importantly, it shields us financially from the unexpected.
Finding the right home insurance policy to suit your individual circumstances can be a head-scratching task, even without taking into account the complexities a military life brings.
As a military family, knowing what to look out for when choosing home insurance is key, so we thought we’d give you a few tips to help you choose…
- Work out which features of the policy are important to you.
We all have different priorities. Find a plan that can be shaped to your requirements. Don’t just rely on the ‘Defaqto rating’ – delve into the detail by checking the policy features. Make sure you understand what exactly the policy is offering. More ‘features’ doesn’t always translate to ‘better cover’. Ask yourself if you need certain ‘features’ and are you paying for ‘features’ you don’t need?
- Watch out for attention grabbing low prices.
Without question it’s important to find a well-priced policy, but if it sounds too good to be true, it probably is! Look out for expensive extras that can hike up the premium. Some insurance companies charge extra for home emergency and family legal cover, but there are companies that offer these as standard.
- Make sure you’re military kit is adequately covered under your contents cover.
Being in the military, you can end up with a lot of issued military kit on your flick. You want to be covered for damage & loss. Kit doesn’t just sit at home. You might use it in a soggy trench on Salisbury Plain or out on operations in a far flung corner of the world. Make sure your military kit is covered and find an insurance company that matches your military lifestyle.
- Look out for any special conditions and exclusions.
It’s important to know whether or not your possessions and home are adequately covered for all eventualities and what terms are in place.
- Does your policy require specific window and door security as part of the conditions of cover? If so, can you comply with this?
- If you’re away from home during part of the winter and your pipes freeze causing a flood, will you be covered? Find out what are the conditions attached to your policy.
- Will your insurance company pay out for a valuable necklace if you haven’t had it valued for some time or failed to get the clasps checked?
- Do you need to install smoke detectors as part of the policy conditions and if so, to what standard?
- Do you have adequate values for your building & contents cover?
- Are there single item limits for your contents?
- Are there any questions you cannot answer such as your distance from water or the height of the trees around you?
If questions are answered incorrectly, claims may be refused.
- Check for hidden charges.
Some insurance companies charge you an administration fee for the privilege of updating an address, cancelling or adjusting your home & contents insurance. A military lifestyle often leads to significant upheaval on a regular basis. Each time you move, you have to notify your insurers. Read the small print before you sign, as it can get expensive.
- Make sure your partner has access to the policy details.
Data Protection can be a huge obstacle in making the most basic enquiries unless the relevant permissions are recorded. Without authorisation from the policyholder, it isn’t possible for others to access policy information. If you’re away on deployment, your partner may need to make changes to your cover or register a claim. When choosing your insurer, make sure they offer the flexibility you require and put the correct permissions in place.
We hope these tips will help you choose the right Home & Contents insurance policy for you.
Looking for Home Insurance?
The Military Mutual is a company that understands your military way of life and values. We offer an alternative to conventional insurance and have specifically designed our Military Home & Contents Cover to meet the needs of military families, whether serving, ex-military or retired.
Get A Quote! 0800 0882 966
(UK Contact Centre)
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