Here at Policy Expert, we know that finding the right home insurance at the right price can be time-consuming. We can help give you all the advice you need to quickly find the cover that fits your requirements.
Before you start, let us take you through the ins and outs of insuring your home; what’s covered, what’s excluded and how you can get the best deal. Most standard home insurance policies cover you for loss or damage caused by theft, fire or flooding but you can get cover for so much more than that, so it’s worth comparing home insurance deals to see what different providers include as standard.
Homeowners
If you own your own home, you’ll need to take out both buildings and content cover. This protects everything inside your property as well as the bricks and mortar that make up the building. Sometimes, it can be cheaper if you buy both types of cover together.
To enhance standard cover, you can normally include the following optional extras:
- Accidental damage
- Personal possessions away from the home
- Frozen food cover
- Cash and credit cards
- Legal expenses
- Bicycle cover
Tenants
If you rent your home then it’s likely that your landlord provides buildings cover so you can save money by just insuring the contents. There are many providers who cater specifically for tenant content insurance and these policies typically cover you for things you may not have considered, such as deposit protection.
How much cover?
This depends on the size of your property and the value of the contents. It’s worth doing your homework to correctly assess the total value of your possessions; don’t be tempted to underestimate to get a lower premium as you may not be covered to replace everything should the worst happen. However, if you overestimate the value, you could end up paying far too much for insurance you don’t need.
New-for-old or Indemnity?
This is key when it comes to settling home insurance claims and determines whether you can replace your old items with equivalent brand new replacements (new-for-old) or whether wear-and-tear is considered and a reduction on the value made accordingly (indemnity). Generally, only clothing and household linens are insured for indemnity but do check the small print.
Read more in our home insurance guides or get a home insurance quote now.