How to get the best home insurance quote

Whilst we are always looking for the best possible price it is always important that you don't leave yourself short when it comes to home insurance.

Your house is your most valuable commodity and finding a cheap home insurance policy to cover it may be quite easy, but finding a policy that covers your home's every need may be a little more difficult.

In the final part of our guide we will cover the different ways in which you can search for a policy and how you will know when you have found the right deal for you.

Searching for a policy

There are four main ways in which you can search for the best home insurance deal:

• Home insurance brokers - They have been with us for a while now and offer a more personal service. However they are limited to only being able to offer you deals with the insurers they have an agreement with therefore will not cover the whole of the market.
  
• Direct insurers - Going to the insurer direct effectively cuts out the middle man so no commission needs to be paid to the broker. This can be translated into savings for the customer, however these insurers will spend a lot of money on marketing and you could be missing out on a cheaper elsewhere.
  
• Brand providers - Large UK brands such as supermarkets or retail chains use their brand and consumer confidence in them to branch out into other products like insurance. They will be underwritten by a direct insurer and still have limited options when it comes to products and again, may not be the best price in the market.
  
• The 'Full Search' provider - With a full search provider they allow you to enter your details into a form and search the whole of the market for the most competitive quote in minutes. They will return quotes from brokers, brands and direct insurers so you can take your time finding the right deal for you saving you both time and money.

By entering your details into the comparison tool at moneysupermarket.com, we will return quotes from over 74 insurance companies in minutes helping you find the best deal for you at the cheapest possible price.

How to spot the right deal for you

Like we said earlier, simply opting for the cheapest possible deal may not always be the right choice for you and your home. In the long run it may be worth spending a bit more now on your premium to make sure you are fully covered should disaster strike.

Before you start searching for a policy, make sure you are aware of what is important to you. Do you need accidental cover on your policy? Do you need to insure all of your possessions or are there items that you could comfortably replace yourself?

These are just some of the questions you should ask yourself when searching for a cheaper home insurance deal.

Make sure you fully read through the terms and conditions of a policy that you are interested in. Be aware of any 'catches' within the wording that may risk you being paid out. Over-insuring your home is much better than under-insuring your home, make sure the agreed limits of a payout exceed the property or its contents value.

Understand what excess payments you would be required to make in the event of a claim. There is no point in setting a high excess to reduce your premium if you could not afford the payment in the event of a claim.