The Dos and Don’ts of Home Insurance

The Dos and Don’ts of Home Insurance

Sorting out your home insurance can be a tricky process, and many people find it to be an extra headache that they could really do without. However, if you want to ensure that you are covered should anything unforeseen happen to your home, it’s important to sort out your insurance as soon as possible.

DO make sure you understand the difference between Buildings and Contents Cover. Though the term ‘home insurance’ covers both, they are not always provided together and, if you do have to buy them separately, then it’s best to be sure you understand what you should be getting from each. Buildings cover will insure the building itself, together with any permanent fixtures like kitchens and outbuildings. Contents cover, however, insures the contents within your home, like valuables and furniture. Generally, you will notice that the buildings cover insures much greater sums – RIAS, for example, provide up to £1million for buildings cover and £50,000 for contents. If you can purchase the two together, it should make life a little easier.

DON’T judge the whole policy on the extras it provides. Companies like to boast about the eye-catching, handy extras that come with their home insurance policy, but if you choose them without checking the main features of the policy, you could be in for a nasty surprise. Extras are designed to be just that: extras. If, of course, you’re stuck between two equally promising policies and don’t know which to go for, then the extras should be taken into consideration. Some companies will provide more than others, and there is bound to be one that has something that seems more appropriate for your own situation. ASDA, for example, provide the added bonus of wedding gift protection, where the sum assured automatically rises by 10% 30 days before and after the wedding day.

DO your research carefully. It may be useful to ask friends and family who provides their home insurance, though remember that insurance is specific to the buyer so something that is good for your friend may not be as suitable for you. Don’t limit yourself in your research – insurance is not only provided by insurance companies any more, you can also buy it from supermarkets and the post office, often for cheaper rates. No matter what else you do, the most important thing is that you do enough research to feel certain that you’ve chosen the best possible policy for you. It may seem tedious at the time, but it’s better to have investigated somewhere and learned that it’s not right for you than to worry about not knowing later.

Choosing your home insurance is a crucial decision, and it is important that you’ve made sure you fully understand your chosen policy, and that you know from thorough research that it’s the right one for you.