Cheap home insurance works like any other policy, but the lower price may reflect less cover, lower limits, a higher excess or more exclusions. Insurers assess factors such as your home’s location, construction, security and claims history, so give accurate information when applying. Compare buildings and contents cover on a like-for-like basis, checking accidental damage, alternative accommodation, valuables limits and the excess. Before buying, read the policy wording and check that the provider is FCA-authorised; the cheapest option may not offer suitable protection for your circumstances.