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Dale Lovell

A report has shown that consumers buying the cheapest home insurance may not be fully covered making it an expensive option if they need to claim.

A report has shown that consumers buying the cheapest home insurance may not be fully covered making it an expensive option if they need to claim.

A report has shown that consumers buying the cheapest home insurance may not be fully covered making it an expensive option if they need to claim.

If you are unsure that your policy does not fully cover you for what you require, compare home insurance providers to gain peace of mind.

The report by Defaqto showed home insurers are increasingly offering vital aspects of home insurance as optional extras rather than included as standard.

As consumers become more price focused due to the current climate there is the risk many could be underinsuring their home.

The analysis of 299 household contents insurance policies showed 82 percent provide accidental damage cover as an extra, 68 percent provide legal expenses as optional, 38 percent did not include home emergency as standard, 11 percent plants in gardens and 1 percent identity fraud.

"Price is becoming increasingly important in the home insurance industry," said Mike Powell, Defaqto's insight analyst for general insurance.

"It is important for consumers to focus on policy features when choosing home insurance to ensure they choose a policy that is right for their needs - and not just on finding the cheapest cover available, potentially leaving them with insufficient protection."

While seven percent of insurers were found not to provide freezer cover as standard, five percent did not include accidental damage of TVs, five percent for glass breakage, three percent loss of water, oil or student belonging, and three percent did not include loss of keys as standard.

Best Home Insurance

It is important that consumers are aware of what their home insurance policy covers them for and what they need to take out as an extra.

While keeping home insurance cheap may seem like a more attractive deal if something were to happen where you would have used it you may end up spending more than you would have done it you were fully covered.

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