With many of us at home during the Pandemic, while we might still have a good amount of work to do, we may also find that we have some free time to do other things around the house, particularly if you are used to a big commute and no longer have to do that.  Time usually spent in a car or train can be put to better use and, once you have cleaned the house scrupulously, looking at your finance package is one of those.

We all have areas that periodically come up for renewal, or need looking at, be it the end of a mortgage deal, yearly renewal of home and car insurance, mobile phone contracts, or even just broadband or entertainment deals.  They are all places where we could potentially save money and having a look at those would be a good start. Afterall, none of us have any idea about how long this pandemic is going to continue, or the possible state of our finances this time next year, so strike now while the proverbial iron is hot.

Of all of the above instances, home insurance is one that has a tendency to creep up yearly, while we just sit back and kid ourselves that the extra couple of pounds per years really doesn’t matter,  It does, because this couple of pounds every year adds up and if you change regularly, you are likely to see much lower premiums every time that you do.

Many of these types of insurance have a rolling 12-month contract and auto-renew without us having to lift a finger.  But in doing that, the insurer can also quietly put up the price, and by ignoring this every year, we allow it to happen.  Hopefully, during this lockdown you’ll have time to review the things that you never get round to and make amends for forgetting them in the past.

While it might sound like an inconsequential thing, changing something like your home insurance is pretty easy to do, in fact so easy that you miss out on some really great deals, because you don’t know where to look.  A much better option is to speak to a specialist, who will know what’s out in the market place and can point you towards something that really suits you and your circumstances, rather than just being something that might be a few pence cheaper than what you have now.

Of course, you may also need to revisit your home insurance to see if it is still fit for purpose during the lockdown and if working from home becomes a long-term alternative to the office. Generally, if you are an office-based worker and need to work from home because of Government advice or because you need to self-isolate, your home insurance cover will not be affected. However, you may find that any business equipment used (such as a Laptop) is likely not to be covered.  In this instance, you need to ensure that your employer has this covered.

If you would like to discuss your home insurance and your options, come and chat to us at Grange Mortgages, and see how we can help.  We may not be in the office during this lockdown, but we are still available.