Home insurance is a vital insurance product particularly in the current economic climate. Whilst it might seem that it's an extra expense, the most valuable object that the majority of people own is their house and damage to such a valuable object can be almost impossible to repair without the financial assistance of an insurance company.

So when it comes to shopping for a policy how should you go about finding the best deal possible?

One thing that you could do is consider buying separate policies. Home insurance is a blanket term that covers two forms of insurance that are often sold together, these are contents insurance and buildings insurance (the former covers everything you would take with you were you to move house, the latter the fabric of your property). Whilst it is often cheaper to buy them together, in certain circumstances you can save money by getting separate deals.

The best way of making sure that you get the best deal is to look at several different options. Different insurance companies will offer policies aimed at certain demographics that can save you a lot of money if you find the right one. Some mortgage lenders will recommend insurance companies and whilst it might be tempting to settle for one of these, they don't necessarily offer the best deal.

Comparison websites can be a useful tool but shouldn't be considered as the be all and end all of the insurance process. Last year the Financial Services Authority declared that some price comparison websites didn't actually offer the best deal. Still, they do offer quotes from a wide range of companies so you can consider the offer you get through a comparison website as a good marker to try and get under.

When you find a good deal from an insurer it might be worth buying online as some providers offer discounts to online customers. Even if you like the company you're with, it might be worth looking at someone else as many companies also offer new customer discounts, even if you don't want to switch, your company won't want to lose your custom so you may be able to haggle with them.

No two home insurance policies are the same because no two sets of possessions are the same. The best policy is the one that is most closely tailored to your circumstances not necessarily the cheapest out there. You need to find the balance between the right coverage and the right cost, but if you look hard enough there's no reason why you shouldn't find a policy that has the best of both worlds.

One good place to start your search is Co-Operative Finance. As a mutual company that have weathered the financial crisis extremely well they're offering great value deals at the moment.