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Home Insurance Tips
Having purchased a home and spent your hard earned money on filling it with furniture, appliances, and other personal possessions, the next important thing you can do is insure all of these. Insuring them will protect you from having to purchase them all over again should the worst happen.
There are two main types of home insurance :
- Buildings insurance : this insures the physical building and structure of the actual property against for example, fire, flooding, or other types of serious damage to the property. Different insurers will cover you for different amounts so do check how much they are insuring your property for.
- Contents insurance : this covers the contents you keep within your home, so your TV, Stereo, CDs, clothes, jewellery, carpets, furniture etc.
As with most insurance policies there are always factors you should be looking out for. Here we’ve provided some helpful tips for you to consider before purchasing your insurance :
- Adding extra security to your home such as more secure windows, doors, or even a new security system may well improve your chances of getting better or cheaper contents insurance. However for buildings insurance it is likely to increase the cost of rebuilding your home and therefore might increase the premium slightly.
- When getting quotes for contents insurance it’s important that you know how much to insure your contents for, so do check around your home and get an idea for the approximate value of the contents you own.
- You should be able to cover your contents when you are away from your home e.g. jewellery, but do check that the insurer includes this, and if it is as an optional extra, how much it costs.
Similarly most insurers will cover contents kept in the garage or shed, but do check. - Accidental damage can be covered, but might not come as standard on all policies.
- If you have a pedal bike than again do check the requirements of the insurer. They may only insure it if it’s fitted with a certain type of lock for example, or kept in a safe place overnight.
- Remember to always check the excess payable on your policy and how this affects the premium. Typically the higher the excess, the lower the premium.