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*51% of consumers could save up to 40.20% Consumer Intelligence, April 2018. Action Man © 2018 Hasbro. All Rights Reserved. Licensed by Hasbro.
Compare home insurance quotes
Whatever cover you’re looking for, the easiest way to find the best policy is by comparing home insurance quotes online. You can compare buildings insurance, contents insurance or combined policies in one simple search on MoneySuperMarket.
It doesn’t take long
Pop in details such as your address, property type, value of contents, rebuilding costs, and you’ll be able to quickly compare home insurance quotes.
We’ll search for savings
We’ll show you which home insurance quotes are the cheapest along with claims experience, a quality score, home emergency cover, cover level and more.
Once you’ve found a policy you like, you can call or click through to apply for your home insurance policy directly with the insurer.
What do I need to run a home insurance quote?
There are two types of home insurance: buildings insurance covers damage to the fabric of your property, including fixtures and fittings, while contents insurance covers your belongings. You can compare home insurance prices for both buildings and contents cover with MoneySuperMarket, so you can protect your home against fire, flooding, storm damage and theft.
When applying for home contents and buildings insurance, you will need the following information:
Details about your property
- Your address and property type (eg semi-detached or terraced)
- Number of rooms
- When your home was built
- What percentage of the roof is flat (we’ll help you work this out)
- Number of occupants and when they tend to be home
Rebuilding cost and value of contents
- Based on your postcode, we’ll suggest a figure for the cost
Security at your property
- What lock types are on the windows and doors at your home?
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Get cheaper home insurance
The average price of combined buildings and contents insurance has been in steady decline for a number of years. MoneySuperMarket data found the average cost of home insurance (combined) in the first 3 months of 2018 was £118 – down on average by £36 compared to the first 3 months of 2013.
The best way to take advantage of falling premiums is to shop around and see if you can find a cheaper policy elsewhere, instead of auto-renewing. Here are our top tips on how to get cheaper home insurance:
You could save up to 40%* when you search for cheaper home insurance with MoneySuperMarket.
It’s cheaper to for your home insurance annually, rather than monthly, as you won’t pay interest.
Build your no claims discount
A history of not claiming on home insurance is usually rewarded with a discount on your premiums.
*51% of consumers could save up to 40.20% Consumer Intelligence, April 2018.
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Customer satisfaction rating
**Based on 6258 reviews in the last 12 months – Read all reviews
What type of insurance should I get?
Finding the right house insurance policy for your home depends on whether you own or rent a property. If you have a mortgage, your bank or building society will require you to have buildings insurance. If the house is rented, then buildings insurance will be the responsibility of your landlord, but you will need contents cover to protect your possessions.
You can reduce the cost of home insurance by taking out a combined buildings and contents insurance policy with an insurer that offers a discount if you buy both types from them.
What is the difference between buildings and contents insurance?
Buildings insurance provides cover for the structural elements of your home, such as the windows or roof, and covers the cost of repairs or rebuilding work.
Contents insurance, however, provides protection for your valuables, such as laptops or TVs, and covers your home contents against loss, theft or damage.
Both types of insurance usually cover loss or damage caused by:
Theft or attempted theft
Fire, explosion or vandalism
Flood or water leakage
Storm, lightning or fallen trees
How much buildings insurance cover do I need?
When looking for buildings insurance quotes, you will need cover for the rebuild value of your home rather than the market value. When running a quote, a rebuild amount will be suggested using data from the Royal Institution of Chartered Surveyors (RCIS).
How much contents insurance cover do I need?
The amount of content cover you need will be based on the total value of your contents within your home. When running a quote, you might find it helpful to work out the value of the contents of each room in turn before adding them together for your grand total. We’ll ask you about the value of expensive single items in your home such as laptops, jewellery, bicycles and items worth more than £1,000, to ensure your possessions are adequately covered.
“Got my house and buildings insurance for less than half the price with the same or more cover.”
“Took only a short time to get a very competitive home insurance quote which saved me money.”
“Helped me to compare prices and services easily and I saved 50% on my house insurance.”
“This is the best site that I have found for the cheapest house insurance; and would definitely recommend it to friends and family.”
Home insurance guides
Our guide to home insurance
A helping hand to find the right home insurance deal for your needs
Here’s what contents insurance covers and how you can get it for less
Protect your home and make sure you’re getting the best price
How to protect your belongings when you live in rented accommodation
Holiday home insurance
Get affordable cover for your home-from-home
Protect your valuable gadgets with this specialist cover
How to make a claim
Find out how to make a claim on your home insurance
Unoccupied home insurance
Our guide to insuring an unoccupied property
Protect your household appliances for longer with an extended warranty
Get specialist cover if your home is in a flood-risk area
How to spot subsidence in your home and protect against it
Short term insurance
Will your property be empty in the short term? Here’s how to protect it
Accidental damage insurance
Protect yourself against life’s little mishaps around the home
Get specialist cover and peace of mind for your most prized possessions
Protect all your valuables in your student house, flat or halls
Limited-time home insurance cover for your property and possessions
Listed building insurance
Get specialist cover if your home is a listed building
New build insurance
Specialist home insurance cover for your new build home
Live in a flood risk area?
Home insurance should now cost less
What is a connected home?
You and your home
Tips to make your garden more secure
Getting online in your new home
How to get your broadband up and running in no time at your new home
Home insurance saving tips
5 ways to get the best deal
Making a claim
Our guide to making a home insurance claim
We’re 100% independent: working only for our customers
Unlike some of our competitors, MoneySuperMarket is not owned by an insurance company. So we can offer great value, with savings delivered straight to you.
We combine independence, so we can negotiate the best prices, with excellent technology, to find great value products and services for you. That’s what makes us – in our customers’ opinions – the best price comparison website.
Level of service
We aim to show you home insurance quotes from as many insurance companies as possible, so that you can find the right policy for you.
Unfortunately, we can’t promise to show quotes from every insurance provider, because not all companies want to be included on comparison websites.
We won’t offer you advice or make a recommendation, but we will provide you with all the information you need to help you decide which is the right policy for you.
You can find out more about how we work here.
Not enough there to get your teeth into? Try looking at our news, views and in-depth home insurance guides.
Home Insurance: A Shield Against Loss/Damage
Home Insurance: Choose the best home insurance policy at PolicyBazaar and safeguard your house from natural and man-made disasters.
- Compare Home Insurance from Top Insurers
- Lowest Premium on Home Insurance
- Instant Home Insurance Online
“A house is made of walls and beams; a home is made with love and dreams.”
There is no such place like home in the entire Universe. After all, it is a place where you and your loved ones can rejoice, weave thousands of memories that last for a lifetime. While we put our life’s savings into buying or constructing a home but we rarely realize that our home needs a protection in the form of insurance too. By investing in a good home insurance policy, also referred as home owners insurance, you can protect your home from threats. Situations like burglary, fire, earthquake or destruction of house due to riots are quite common in India.
Don’t wait for a calamity to remind you the need of buying a home insurance, opt for it beforehand!
Top 5 Benefits of Home Insurance
There is no denying of the fact that house insurance is a must, however, there are other benefits and riders to buying such a policy that will add convince you totally. Have a look below:
- Get comprehensive coverage to both content and structure of your home.
- Secure your assets from any mis-happening.
- Buy home insurance policy at comparatively lower premium rates than other insurance policies.
- Reduce stress and tension level for you’ll have a home insurance to fall back to, in case of unforeseen circumstances.
- Timely insurance payouts allow families to go through rebuilding process quickly, helping them to move on and get back to their normal daily lives.
Handy Tips for Choosing a Home Insurance in India
There are various home insurance providers in India that offer different plans as per individual needs. To ease your selection, we have listed down important points which should be compared while choosing one home insurance company over other:
- Check premium and coverage= Firstly, evaluate risks which your home is facing or might face in a future. For example, if you live in a flood prone area then you should ensure that your home insurance policy is covering these risks also. Also, while checking coverage, it is prudent to check if the premium fits within your budget or not. You can solicit premium quotes of individual insurers or use comparison chart to compare premium quotes.
- Check claim settlement ratio= A good company is judged by the turnaround time of settling claims. The very purpose of insurance will be defeated if you do not get a claim when it is required. So, it is worthwhile to check the claim settlement record of companies before zeroing in on one insurer.
- Look at company’s reputation= The first and foremost characteristics of a good company is that it has customer friendly staff. Does your insurance company have competent customer service representatives who are capable enough to resolve your queries quickly? It is always important to choose a company who is well equipped to assist you at any point of time.
Inclusions in Home And Property Insurance
Home insurance covers losses to the structure and content of your home due to natural and man-made calamities.
Fire and perils cover-
- Aircraft damage
- Riot, strike
- Storm, cyclone, flood
- Missile testing operations
The policy offers coverage against loss or damage to any of the insured property. However, many policies do not cover flood or overflow of the sea, rivers and lakes due to earthquake.
Burglary and Theft Cover
The contents of home are also covered against burglary or theft. The coverage will also be extended to silver articles, jewellery, precious stones and other valuable items, provided these are kept in a locked safe within your home premises.
Exclusions in Home Insurance
- Loss or damage caused by wear & tear and depreciation
- Loss of cash
- Loss or damage caused by war, invasion, act of foreign country
- Loss or damage caused by nuclear war
- Loss, destruction or damage caused to any electronic equipment due to over-running or excessive pressure
Who Should Buy a Home Insurance?
Home insurance is meant for anyone who has a home whether own or rented. There is myth that only home-owners should buy a home insurance plan. Let us tell you case of Mr Vijay Rao and how having a home insurance policy saved him during a crisis.
Two months after Mr Rao moved to a rented apartment in Mumbai, a catastrophic fire engulfed furniture and other appliances worth Rs 8 lakh. Thankfully, he had a home insurance policy and he could manage to settle back to normal life again easily and without any financial stress.
It’s a misconception that only house owners should buy a home insurance. Although, house may belong to a landlord but it has contents which belong to you. Irrespective of the fact that whether you are a tenant or owner, buying home insurance should be your top priority.
Even, there are various insurance companies which provide exciting discounts to people who have bought over 3 home insurance covers. However, don’t let discounts make you buying those covers also which you don’t need. For instance, if you are a landlord then avoid buying a policy to cover contents of the house. Leave that to the tenant. Companies also offer discounts if you buy it for a long duration. You can insure the house for up to 10 years, which not only gives peace of mind but you also get a chance to earn lucrative discounts.
How to File for a Home Insurance Claim?
Almost every insurance company is having its own deadline within which you have to inform about your loss. These can vary between 7-15 days so make sure you do it as soon as possible. Some companies even let you do with an email or SMS. Before you file for a claim, you will have to lodge an FIR and the copy of which you need to submit with insurance company. Apart from FIR report, the other documents which you need to submit are-
- Fire brigade report
- Medical Officer’s Certificate for death or disability
- Investigation report by police
- Suppliers original invoice for replacement
- Invoice of owned articles, if any
- Repair estimates
- Court summons
Note: This is an indicative list and you may be asked to submit other documents at the time of claim settlement. Click here To Read to Make Your Home Insurance Claim Easier
How to Lower Your Home insurance Premium?
Strategies that can help in bringing your home insurance premiums down are-
- Reduce your liability by agreeing to share the burden of repairing. It will help in reducing your premium.
- There are many such things in our house which are precious to us but there is no point in insuring them if they are too old. For instance, your 10 years old black & white TV might be working well, but there is no point in insuring it at a depreciated value. Be wary while making an inventory of products to be insured.
- Take two or more insurance covers to become eligible to get discounts.
- Like any other insurance plans, if insurers are convinced that you have installed all safety equipments at your home then you will become eligible to get discounted premium. If you have security guards posted 24×7 in the building and fire safety alarms installed at home, then you will get discounts in premium.
Get Ready, Get your Home Covered at PolicyBazaar
From free home insurance policy quotes to comparison among best home insurance providers in India, we at PolicyBazaar are here to secure your home from all damages/losses. With us, insuring your valuable possession, ‘Home’ is now a matter of a few clicks. One can buy or renew an existing policy through our viable platform. Moreover, if the presence of various insurance providers has perplexed you, then talk to our customer support staff who will guide you on all aspects of home insurance.
It takes years to build a house so extend, its life with a right home insurance plan!
What is home insurance?
Home insurance provides coverage to house and its contents against loss or damage caused by natural (flood, storm, landslide, etc.) and man-made calamities (theft, burglary, strike, riot, terrorism, etc.)
Mainly there are three insurable components- structure (building), content (material assets) and people (family members and third party). You can go for the specific coverage either for the structure or content. Also you can go for a comprehensive cover that includes both structure and content.
Why should I buy home insurance?
Your home is precious and probably the most expensive investment of your life. It is not immune from perils like fire, theft, flood, etc. Disasters are unwelcome guests who do not knock your door before intruding your home. So it is always good to be prepared beforehand to minimize any loss or damage to your home. Home insurance protects you from losing your hard earned money by insuring your house against man- made and natural calamities.
What are the perils covered under home insurance policy?
Home insurance offers protection against both natural and man-made calamities. Mainly, it safeguards your house from-
- Bursting/overflowing of water pipes, tanks
- Leakage from automatic sprinkler installation
- Damage caused by vehicle of a third party
What perils are not covered under home insurance policy?
Home insurance policy doesn’t offer coverage to kutcha construction and under construction building. Some of the other exclusions of the policy are-
- Loss/damage caused by war or terrorism activity
- Loss/damage caused by radioactive contamination
- Loss caused by pollution/contamination
- Destruction caused by wear and tear of the house
- Any loss/damage caused in residence-cum-shop
- Any loss/damage caused in residence-cum-office premises
- Loss of cash, cards or other documents
- Painting, antiques
- Loss or damage caused when the house remains unoccupied for a long tenure, usually a month.
What contents are covered under home insurance policy?
Home insurance covers the following contents-
- Furnishing items
- Expensive belongings
- Precious items like jewelry, gemstones, etc.
- Electronic items like laptops, televisions, etc.
- Home appliances like refrigerator, washing machines, etc.
What is the tenure of home insurance policy?
Usually, the tenure is of 1 year, but few insurers are offering plans up to a term of 30 years.
What do you mean by reinstatement cost?
It is the cost which would incur on reconstructing the damaged property. As per standard regulations, reinstatement cost includes value of foundation and it doesn’t include land cost.
How is sum assured computed?
Sum assured for the structure and content is calculated separately in following pattern.
Sum assured for the structure
Sum assured= Built up area x cost of construction per square foot
It is computed on the basis of reconstruction value and not on its market value. For instance, if the built up area of your house is 1500 sq. ft and the construction rate decided by the insurer is Rs 1000 per sq. ft., sum insured for your home structure would be Rs 15,00,000.
Sum assured for the conten
It is calculated either from the actual cash value (ACV) of the asset or from the replacement cost, i.e., Current Market Value – Depreciation
How can I bring down home insurance premium?
Methods that can prune your home insurance costs are-
- Increase voluntary deductible= You can lower the liability of the insurer by agreeing to bear a portion of repair at the time of claim. This helps in lowering premium.
- Don’t cover everything= Avoid covering very old items. Your 10-year old radio might be working fine but there is no point in insuring this low value item at a depreciated rate. Be choosy while picking items for coverage.
- Install safety equipments= Like car insurance, insurers award homeowners for installing safety equipments and following safety measures at home. If you have security guard posted 24×7 in the building, install fire alarm and fire fighting equipments at home, you can get discounts ranging between 10-15%.
- Group policies= Insurers offer 15-50% bulk discounts to group customers. The quantum of discount would depend on the condition, age and location of the building. Encourage your resident welfare association to bargain for lucrative discounts.
Avoid unnecessary covers= Don’t buy a cover just because it is there. Add-ons like terrorism cover or rent paid due to displacement will only make policy expensive.
Is compound wall covered by home insurance?
Yes, compound wall be covered by home insurance as long as it is not a kutcha construction.
Can I increase sum assured in my policy?
Yes, insurance companies allow you to increase sum assured value in your policy. At the time of increase in value, you need to pay premium for the increased sum assured for the remaining tenure.
Can I insure my house let out for rent?
Yes, you can insure your house as long as it is used as a residence and not for commercial purpose. Also the home should not be a kutcha construction.
What is debris removal? Do insurance companies cover debris removal?
If your home gets damaged then damaged portion may occupy space. You would have to remove debris to reconstruct your house. It is known as debris removal. There are many insurance companies which reimburse the amount spent on debris removal, subject to deductions.
Can an entire building or society be covered under home insurance policy?
No, an entire society cannot be covered under home insurance plan.
Is FIR necessary for home insurance claim?
FIR is mandatory incase of riots, burglary, strike, malicious damage, terrorism and larceny. However, it is not necessary in following situations-
Impact damage due to accidental losses
When does the insurance cover start?
Insurance coverage will start from the time your payment is received by the insurer.
What happens to the home insurance policy if I sell my house?
From the time, transfer of ownership becomes effective, home insurance policy stands cancelled. Insurer will refund the remaining premium for the balance period to the insured.
Can I take home insurance policy from 2 companies?
Yes, you can buy home insurance policy from two companies. At the time of claim both companies will pay you on a proportionate basis.
Can I make a claim on my partially damaged home?
Yes, you can make a claim on a partially damaged home.
What is the procedure to make a claim on partially damaged house?
Make sure you follow below steps to make a claim on partially damaged house-
- Inform the insurance company and send a duly filled form along with a rough estimate of the repairing work. Do not undertake any repairing at this stage, otherwise your insurer may reject your claim.
- After receiving claim form and requisite documents, a surveyor, appointed by the insurer, will visit your house to assess damages.
- The surveyor will file a report on the basis his findings. Based on his input, insurer will either accept or reject your claim application.
- Now you can undertake repair work. After the completion of work, surveyor will re-visit your house and submit a detailed report about repair and cost to the insurance company.
- After receiving bills and receipts, net liability will be computed on the basis of surveyor’s recommendation and applicable deductibles.
- If your claim is accepted, a cheque will be send to you at your postal address. However, if due to any reason, your claim is rejected, insurer will send a repudiation letter.
My house is damaged due to fire. Can I go ahead, do repair work and then send bills for reimbursement to the insurance company?
If your home is damaged, never undertake repair work without informing the insurance company, otherwise your claim will be rejected. Take following steps to make a claim in case of fire accidents.
- Inform the insurer by calling customer support number or via email.
- A surveyor, appointed by the insurer, will visit your house to assess damages and repair which need to be done and accordingly he will give a go-ahead for it. Never start repairing work before surveyor asses your house otherwise insurance company will not be liable to accept your claim form.
- Once the repair work is completed, surveyor will revisit your home. You can submit the duly filled claim form, fire brigade reports and bills to the surveyor along with additional documents requested to process claim.