Homeowners urged to check their insurance policies

| July 19, 2007 | 1 Comment

Defaqto, the financial product research business, is advising homeowners to check their insurance policies carefully rather than just opting for the cheapest quote, particularly since the recent increase in applications for home insurance cover by homes susceptible to flooding.

Since the appearance of Defaqto Compare! on find.co.uk, people can now see whether their policies meet, exceed or fall short of the cover required. Defaqto and find.co.uk have chosen 10 essential criteria and identified levels of cover for each. The system uses a traffic light method for simple recognition, visitors can then see the quality of the policy for each of the criteria.

For example, when it comes to flooding, the cover level for alternative accommodation is probably the most significant buildings insurance factor, particularly with more rain due. For contents insurance, theft from outbuildings is an essential cover.

A spokesperson for Defaqto has commented that price is only a minor aspect to be considered when purchasing insurance. Adequate flood cover is imperative in these emergency situations. People using websites to compare quotes should then check on www.find.co.uk to verify that the cover levels are what they require.

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  1. Oakland says:

    Good advice, too many people opt for the cheapest price without checking the full extent of the cover.

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