More of us now use price comparison websites to find the best price on our Home Insurance. But unless you really understand the product you’re looking for, buying online might leave you exposed. Buildings and contents insurance is normally referred to as home insurance. It can be a combined policy or bought as 2 separate policies, that will cover damage to the house or its contents. Buildings Insurance is essential and will be a condition of the mortgage and although contents insurance is not compulsory it is strongly recommended.
Home Insurance Advice you can depend on
This covers the building itself against things like fire or flood It will also cover permanent or fitted fixtures and fittings in your home and garden, and any outbuildings that form part of your home. If you own your home, buildings insurance is absolutely essential. If you have a mortgage, your lender will almost certainly demand you have a policy in place as a condition of your loan.
Contents insurance protects your household goods and personal possessions, such as electrical goods, jewellery, clothes and furniture. You can usually add various options to your contents insurance that will provide additional cover. Two common enhancements are accidental damage cover and cover for possessions outside of the home. Some insurers include these additional options as standard.
Who’s the insurer?
Take the time to check out who you’re being insured by:
- Have you heard of them?
- Are they a household name?
- Are you confident they will be there for you when you need them?
A financially strong insurer is also important, so think twice about buying cover from a little-known provider.
Quality versus cost
Try to remember the old adage: ‘you get what you pay for’. It might be tempting to go with the cheapest premium you can find but are you confident you will have the right level of cover? Will your insurer be there when you need them? If you’re unfortunate enough to have to claim on your insurance, the last thing you’ll want is a nasty surprise when you contact your insurer.
We hope we have given you a small insight into what’s involved in Home Insurance. To explore the specific options for your circumstances, please get in touch. We can help make sure you get the right cover to protect your home and your treasured possessions.
Home Insurance checklist
- Buildings Insurance is essential and will be a condition of the mortgage and although contents insurance is not compulsory it is strongly recommended. Speak to our Home Insurance advisers before its too late.
- Consider the cost of replacing all of your clothes, gadgets and even things like children’s toys. Don’t forget your digital music and video downloads.
- Calculate the cost of your hobbies (music systems, camera equipment, golf clubs, fishing rods, stamp collection etc).
- Have you got any expensive items associated with your pets, such as a kennel or tropical aquarium? Remember to include these too.
- If you have children heading off to university, you should check whether or not your policy automatically covers them for the possessions they take with them.
- If you leave your property unattended for a long period of time, your insurance may not be valid – particularly for damage caused by things like water leaks. Other common exclusions include damage caused by war or acts of terrorism, and damage to gates and fences caused by storms or floods