Switching your home insurance

A guide to shopping around for home insurance.

We know how important it is to feel safe and secure. So when it comes to your home, we want to make sure you have the right cover in place.

This is why we say you should shop around before you commit to insuring your home. There are many kinds of home insurance that offer cover if the unexpected happens. Lloyds Bank Home Insurance Select offer three levels of cover to choose from - Bronze, Silver or Gold.

We want to make things as simple as we can. Here’s our guide to finding the right insurance for you:

Check your existing policy
If you already have home insurance, check your policy documents. Your needs may have changed since you first took out your policy. Check that it still covers what you need
Find ways to bring down the cost of your home insurance
There may be changes you can make to reduce the cost. You may get a cheaper quote from some home insurance providers if you make your home safer, such as fitting a burglar alarm or smoke alarm. Are you paying interest on monthly payments? With Lloyds Bank Home Insurance Select you pay monthly at no extra cost, but most providers charge extra to pay monthly. So if you're not with us, you might reduce the overall cost if you switch to an annual payment. Small changes like these can make a big difference
Work out what cover you need
List all the things you need cover for, and keep in mind these three questions:

What type of policy do you need?
Home insurance tends to be split into buildings insurance and contents insurance. Some providers combine the two, and some offer them separately. With Lloyds Bank you can choose either or both.

What level of cover are you looking for?
You might want insurance that will replace your keys if you lose them. You might look for cover for your bicycle, garden shed or students' contents at university. Keep this in mind when you shop around for a home insurance quote.

What features do you want?
Some policies come with added features as standard at no extra cost. If they don't, check the price and cover these give you, and see if you can get them elsewhere. Check that added features can be included or removed from your policy at renewal.
Shop around
Finding a great home insurance quote has never been easier. There are so many ways to find the right cover and switch your home insurance provider:

    Comparison websites
    Home insurance websites
    Banks and building societies
    Supermarkets and department stores
    Insurance brokers or independent financial advisors

If you’re shopping around for cheap home insurance, don’t make a decision based just on price. The cheapest policy might not have the best cover for your needs. Try to get as many quotes as you can. You may have built up a no claims discount. Keep this in mind when renewing.
Compare your quotes
Make sure the features you’re comparing are the same. Sometimes there are things that are hard to spot, like how much the excess is. Always check when you compare home insurance quotes that the details match up.

Ready to shop around?

If you follow the steps in this guide, you’ll have a better chance of finding the right home insurance policy for your needs, at the right price. You can get a quote for Lloyds Bank home insurance in just a few minutes. Then compare it with others you might find elsewhere. You can only get Home Insurance Select directly with us. Get a quote online or over the phone.