All you need to know about home insurance

Home insurance safeguards your property and peace of mind, making it an important investment when purchasing a new property. Home insurance covers damages and losses caused by various incidents such as fire, theft and water damage, but how do you go about getting it, and what are your options?

In the UK, there are two main types of home insurance – Buildings Insurance, and Contents Insurance. Building Insurance covers the structure of your home, whilst Contents Insurance covers the belongings and personal items inside. Many insurers offer a comprehensive combined policy that provides an all-in-one solution. Depending on your needs, you can usually also add extra coverage options to your policy as well such as legal expenses and personal possessions cover.

When purchasing home insurance, there are some important things to consider.

Firstly, you should ensure the property has been correctly valued to avoid unnecessarily high premiums or inadequate coverage. Factors such as the location, type of construction and previous claims history can also affect how much you pay for your policy. Once you have a policy in place, you can contact your provider as soon as a covered incident occurs to start the claims process – though hopefully, you will never have to take this step anyway.

Understanding the different types of policies available, additional coverage options, and factors influencing premiums can empower you to make an informed decision when selecting a policy. If you have any questions, speak to your agent who can signpost you to a suitable insurance provider.