Our home can only feel like our castle if we can protect it with insurance. This is possible by simply finding an online provider rather than having to look for premises on the high street when these are becoming fewer. Online is an easier place to compare prices in an instant from the comfort of your favourite armchair.
For an example of an online insurance provider, this company onesureinsurance.co.uk may be just what you’re looking for.
Let us now proceed to what we should know when seeking out home insurance.
A buildings insurance policy will be based on the cost of rebuilding your home from scratch. This can only ever be an estimated cost and will not be the same as a home’s market value. The difference could be higher or lower. It is most likely that each year your home will cost more to rebuild, so the chances are your policy will be index-linked to take account of that.
It is useful to understand just what constitutes buildings. It is not just your house itself. Also covered under this type of policy will be garages, sheds, pipes, drains, cables, and fences. Any structure outside your house that may or may not find itself butted to it by way of an extension.
So, what are you covered for exactly when it comes to some of the above-listed structures? Well, buildings insurance will normally cover damage or loss that results from fires and explosions, storms, and floods, and even earthquakes. It is worth checking the exclusions to policies concerning these.
There is no legal requirement to purchase buildings insurance but you are taking something of a risk as a householder when you are not covered for such a valuable asset. It can cost a substantial amount of money to repair a property that is badly damaged by an event, or when one has been completely gutted by a fire. It will be upsetting enough should it ever happen, but more so if it plunges you into financial hardship and you have to rebuild not just your house, by borrowing money, but everything about your life that cannot be compensated for.
The best way to achieve a total value for your contents, so that you can as accurately as possible insure them, is to move systematically between rooms and list your items. Even ones of lesser value should be included as they soon add up. You will need to estimate the worth of everything. Keeping receipts from valuable items is always to be recommended for insurance purposes. Even if they are past their guaranteed dates.
Separately value your high-end and valuable items such as jewellery or antiques as these items will need to be specified if over a certain amount.
You can purchase accidental damage cover for contents and buildings.
With contents, items can be covered when scorched by, for example, a dropped iron. Ornaments that are broken when a vacuum cleaner pipe swings the opposite way can be claimed for. It is worth noting, though, that claiming too many times will ultimately put premiums up to levels that will not be desirable. So, having accidental damage cover is not an excuse to be careless. Claims departments will look to establish and check the validity of claims. Particularly where they are too frequent and for something like a carpet that will either periodically need replacing or be something that is changed for its shade.
With buildings cover, accidental damage will cover a policyholder for unexpected or unforeseen damage that is caused to the building itself. Damage caused by children will be covered as well as from anyone that ends up falling through the attic floor and hopefully unscathed.
With the right home insurance cover, you can be covered for items taken outside the home. Items such as furniture, a TV, or clothes, can be insured wherever they are under this type of cover. So, this will keep them insured when you are on holiday, for example.
It is important to be aware of the things that can invalidate your home insurance. These include:
Leaving a home unoccupied.
Not alerting the insurer to changes in circumstances.
Using a home for business.
Renovating a home without mentioning it.
Inflating the value of the contents within your home.
Not telling the insurer about your lodger.
Not reporting an incident that has occurred.
So, these are all things to be aware of. You do, after all, require your insurance to stand should you need to make a claim.
To conclude, know what parts of your home can be insured and against what, think about accidental damage cover as an extra that protects your contents and buildings in the event of accidents, and be aware too of the behaviours that will invalidate a household policy. When all these things are considered, you will have peace of mind that your home and its contents are fully insured.