The best and worst home insurance providers revealed by Which?

The consumer group Which?

NFU Mutual has been named the best home insurance provider in the country, while Saga was ranked second, the latest rankings showed.

On the other end of the spectrum, More Than finished at the bottom of the overall list, with the lowest customer satisfaction rate by far.

Where is your supplier classified?  Which?

Where is your supplier classified? Which?

A survey of 1,284 policyholders ranked insurers on customer service levels and policy details and whether or not they would recommend the provider to someone else.

Which? The experts also examined the providers’ policies in detail, inspecting 85 different policy elements.

The customer score and policy score for buildings and contents coverage were then combined to create a total score.

NFU Mutual fared better in the Which? analysis, with a hefty total score of 79 per cent.

The consumer group said this is because it charges no administration fees and has a single-item cover limit of £7,500, while other providers limit it to £2,000 or less.

NFU Mutual was also the only provider to receive top marks from its customers for the way it handles queries, according to Which?

Be Prepared: Shop around for the best home insurance deal this year

Be Prepared: Shop around for the best home insurance deal this year

But while it ranked first overall, its ‘Home & Lifestyle’ product was beaten by other policies when it came to the level of coverage.

Saga’s Plus policy ranked second overall. It pays up to £2,500 for home emergencies and will cover up to £10,000 of student contents when they are not at home. It received an overall score of 72 percent.

Lloyds Bank, which came in third place with an overall score of 71 per cent, was praised by customers for the clarity of its policies, while LV’s Home Insurance and Home Insurance Plus policies also performed well in the survey.

Which? top three home insurers

1. Mutual NFU

2. saga

3. Lloyd’s Bank

LV home insurance coverage includes some accidental damage coverage as standard, but is limited to specific types of damage, such as cables, plumbing fixtures, fixed glass, and home entertainment equipment.

The firm’s Home Insurance Plus coverage has broader coverage as standard. Which one? saying. It also provides an optional £1,000 per call home emergency cover.

More Than achieved an overall score of 56 percent and was the only vendor surveyed that did not score above 60 percent.

He reached the bottom of the general classification. Her policy scores were roughly in the middle of the pack among the 58 policies analyzed, but she had the lowest customer score in the survey, at just 49 percent.

NFU Mutual, together with Lloyds Bank, LV and Saga received the Which? Recommended provider status in the latest findings.

What do insurance customers claim?

According to the research, accidental damage was the most common reason customers in the survey claimed under their homeowners insurance policy.

Coverage was available in all but three of the 58 policies examined. However, only a third of policies covered it as standard, while others included it as an optional extra.

Jenny Ross, which one? money editor, said: ‘With different levels of cover aimed at different types of customers, home insurance can be tricky to manage. But taking the time to find a policy that’s right for you could save you money.

At a time when the cost-of-living crisis is affecting millions of households across the country, doing your research to cut out the extras you don’t need could save you some precious pounds.

Jenny Ross, which one?

“At a time when the cost-of-living crisis is affecting millions of households across the country, doing your research to cut out the extras you don’t need could save you some precious pounds.”

Since January, the Financial Conduct Authority has prevented insurance providers from offering new customers special discounted rates for home insurance, ending the widespread practice of ‘price walking’.

This meant that customers were charged more the longer they stayed loyal to their insurer.

One consequence of this, however, may be higher premiums for new policies taken out as of this year.

Tips for choosing home insurance

Here are three top tips from Which? and This is Money to help you get the best home insurance policy for you:

1. Don’t assume most policies are alike

When it comes to choosing the right insurance policy, the key is not to assume that most policies are similar, or that commonly claimed features come as standard.

Providers are increasingly offering different levels of coverage aimed at different types of customers. Clients must decide if the property they are protecting requires a specific type or amount of coverage, or if they intend to spend as little money as possible on just the basics.

2. Calculate what you need from a policy

Taking the time to figure out what you really need from an insurance policy will ensure that you don’t end up paying for things you don’t want, or only find out when you come to claim that you don’t have the coverage you assumed. you did it.

Detail the key things you need and expect from your home insurance, and check the policy wording to see if they are addressed. If you can’t find clear evidence that the coverage you want is provided, it’s safer to err on the side of caution and call the insurer to confirm.

3. Compare prices or haggle

Whenever you’re looking to buy a new home insurance policy, call your existing provider to see what new deal they might offer you.

On top of that, always do your own research and get quotes from several different providers before taking the plunge and signing up for a new policy.

Comparison websites can be a good starting point, but remember that the cheapest policy may not always be the best fit for your needs.

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