In the UK your house is among the largest assets that you own. Choosing the right insurance to protect your home and your possessions is an essential part of protecting and developing your family. Not all insurances are the same. Insurance is a complex contract between the insured (you) and the insurer. In the UK this is subject to both Contract Laws and specific Insurance Laws which were updated in 2015. Selecting a homeowners' insurance from a comparison site can go badly wrong.
The team at MRSL Enterprise are here to help you to chose the right insurance for your home, family and lifestyle. Broadly speaking we would recommend different insurance solutions for the following families and lifestyles.
You have had a successful professional career and a doctor, accountant, lawyer or in business. Over the years you have purchased a desirable main home with a current value of £750,000 or more and some other properties in the UK and abroad. You have collected some art, sculptures and other valuable items that have appealed to you over the years.
If not still living at home, your children often visit. You have a number of cars from a prestige vehicle for special occasions to a small run around for local shopping and quite possibly some smaller cars for your children to use. You might even have acquired a classic car.
You and your family are busy with life. You remain working, or commit to charitable and local activities. You move between your homes quite often driving into Europe and travel frequently around the world.
MRSL Enterprise would recommend a high end package of personal insurance. Pricing will start around £2,500, but this offers value compared with the insurance on your main home (maybe £600); the insurance on your ski chalet in France (maybe £300 that you have to arrange in France); the insurance on four cars (£1,500 in all - more if younger drivers included) and travel insurance, including winter sports for the family (maybe £500). The packaged insurance is integrated, offers good value and designed to support your lifestyle.
You are building a successful career. You and your partner have probably found the home in which you want to raise your family and have some children. With young children, family holidays might be less adventurous. You have or are considering purchasing some property as a rental investment and might have kept a flat where one of you lived before building a family together.
Every situation is different, but we would expect you to find a good quality homeowners' insurance for £350 to £600.
Homeowners' insurance can be as cheap at £150, but we tend not to recommend the cheapest insurance as the protection can be very limited. It is often worth spending a little more on insurance and getting more extensive cover.
A large number of homes do not fit a standard insurance. Owners of buy to let homes often require specific risks covered, holiday homes might not be occupied and many are left looking after their parents home which stands empty as the occupants travel or are otherwise engaged.
If you are a non-standard insurance then the price is already higher to start with as there is more work to assessing the risk. Non-standard homeowners' insurance will start at around £400.