Home insurance is price the most important factor

iinvestor

when choosing home insurance is price the most important criteria?

Are companies that are more reputable, have higher premiums, more likely to pay out in the event of a claim, then a company who has lower premiums?

Or should I be solely choosing the company who will charge me the lowest premium?

lisyloo

when choosing home insurance is price the most important criteria?

Well that depends on your circumstances and your possessions.
There is often a compromise to be made.

Are companies that are more reputable, have higher premiums, more likely to pay out in the event of a claim, then a company who has lower premiums?

Absolutely definitely there are companies who are likely to give you much better service. One of them for example is Hiscox.
Actually I didn't find their premium massively higher.

Or should I be solely choosing the company who will charge me the lowest premium?

You should recognise that often there is a compromise.
Whether you should make that compromise depends on your circumstances and attitude.
Some people make compromises (like high excesses) and are then unhappy later on.
There is no definite answer, but the better informed you are, the more you are likely to make a good decision.

Meadows

You will never know how good a company is until you need to make a claim, recommendations from friends may help.
It's more down to making sure that the policy you take out covers for everything you need, do you want cover for accidental damage in the home, cover while goods are out of the home, legal protection etc.

I have used the AA for years now (they use different companies) and had Contents and Buildings at different times. This year I decided to get a quote on contents and Buildings at the same time, and the end result was a savings of £20 on my this years Contents renewal price but this difference now covers both, plus a savings on whatever my buildings would have cost later in the year, and £60 back from the un-use buildings policy which has been cancelled. And I have ended up with Drain cover with the buildings which I didn’t have before.