nigel woollsey

Nigel Woollsey

Online Writer
Published: 11/12/2019

Those looking for high-quality home insurance in 2020 will now be able to compare products using Moneyfacts’ well-respected Annual Star Ratings. Consumers will be pleased to see that those products and providers who have achieved Five and Four Star Ratings for home insurance are now live on the Moneyfacts.co.uk website.

Our 2020 Five and Four Star Ratings highlight the very best products available in the market.

Thousands of products are impartially assessed by Moneyfacts on an annual basis, across 16 categories, from business and personal finance products to insurance and investment products. It is down to the extensive analysis of more than 2,000 data fields that enables Moneyfacts to award its Star Ratings every single year, helping to support consumers with their decision-making process.

Star ratings influence consumers decisions

A consumer survey for Moneyfacts in July 2019, revealed that over three-quarters (77%) of consumers agree that an independent star rating is of importance when taking out a financial services product. While around nine in 10 (91%) consumers would agree that a star rating from an independent and impartial company could influence their decision in considering taking out a financial services product.

In-depth product analysis

The latest Moneyfacts Annual Star Ratings derives from the analysis over 80 fields of information per individual product. Moneyfacts Annual Star Ratings are applied separately to home contents insurance, home buildings insurance and high net worth products.

Numerous features are considered when assessing home insurance ratings, and some of this information includes:

  • Maximum sums insured
  • Standard excesses
  • Accidental damage cover
  • Valuables single item limits
  • Legal expenses
  • Personal possessions cover
  • Money and card cover
  • Set-up, adjustment, renewal and cancellation fees
  • Voluntary excess discount
  • No claims discount options
  • 24-hour emergency helpline
  • Alternative accommodation
  • Owners / occupier personal liability
  • Subsidence cover
  • Burst and blocked pipes
  • Outbuildings cover
  • Garden cover
  • Mobile phones cover
  • Home emergency cover
  • Home emergency repair guarantee
  • Keys cover
  • Freezer cover
  • Deeds and documents cover
  • Residential care cover
  • Students cover
  • Gift cover
  • Business equipment cover
  • Pedal cycles cover
  • Special events

Samantha Owens, star ratings & personal finance analytics manager at Moneyfacts, said: “For most people, their home and its contents will be the most expensive thing to replace if the worst happens, and ensuring it is properly insured is essential to avoid a significant financial loss.

The Moneyfacts Annual Star Ratings looks at all the features available to the consumer and assesses them to take away some of this hard work. They allow customers searching for the best product they can afford to focus their attention on those that have the most complete range of features.”

A full list of the Five and Four Star awarded home insurance products, can be found here.

There are many more 2020 Moneyfacts Annual Star Ratings to come.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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