Home insurance is an important part of protecting your home. Depending on the type of coverage you purchase, home insurance protects can protect you against a wide range of risks and damages that may occur to your home and its contents. We can do this at the time of your mortgage application which means your policy will be set up for the same day your property sale is due to complete. Home insurance is available for home owners, tenants and landlords.

Generally speaking, there are three main types of home insurance: buildings insurance, contents insurance, and landlord insurance.

Home Insurance Cover

Home Insurance is an essential cover that protects your property and contents against damage, loss and theft caused by a variety of things.

Home insurance comes in 2 aspects, buildings insurance protects the overall structure of your home, and contents insurance, which covers personal possessions on your property. You can purchase individual policies or a combined home insurance policy, which is both buildings and contents.

Home insurance is a comprehensive policy that provides coverage for your home and its contents. This type of insurance typically offers you protection against:

• Fire
• Flood
• Storm
• Burglary
• Subsidence and heave
• Burst pipes and escape of water

Each insurance provider will have its own terms and conditions, so you should always check the policy is right for you. Home insurance policies usually include an excess amount. This amount is usually set by you and can alter your premiums.

A combined policy of both buildings and contents insurance generally works out cheaper than purchasing separate policies. You will need to make sure you are covered up to the correct amount because if you are not covered for enough then you will be classed as underinsured. This will mean that your claim may be reduced and result in you not having enough to replace your possessions or fix your home.

Every insurance policy is different as they come with different home insurance costs, this is due to your claims history, your home insurance excess (both compulsory excess and voluntary excess), existing customers and the location of your home.

Buildings Insurance

Buildings insurance covers financial protection for any repairs to the structure of your property and its permanent fixtures and fittings.  This includes the walls, windows and roof as well as permanent fixtures and fittings such as baths, toilets and fitted kitchens. You need to ensure that your rebuild cost is accurate to ensure your cover is adequate.

If your property has a mortgage attached, buildings insurance is usually a condition of your mortgage. Your mortgage provider has an interest in your home and must be certain that you have the resources to manage any repairs financially if anything was to happen to the property. Buildings insurance is not compulsory if you don't have a mortgage but is advisable.

Contents Insurance

Contents Insurance is a form of home insurance specifically designed for personal belongings. This type of coverage protects your furniture, clothing, soft furnishings and appliances. Contents cover protects your personal possessions inside the home if damaged or stolen.

Contents cover is an optional cover but is advisable to have. Contents cover is not just for the home owner, it's also for tenants and landlords.

Landlord Insurance

Landlord insurance does not only protect the property if it gets damaged, but it also protects landlords from many different risks associated with renting a property. As a landlord, insurance coverage is essential to protect your property from various risks such as damages, theft and liability. It can also provide protection against loss of rent if tenants are unable or unwilling to pay. Landlord insurance provides the security you need for your investments in rental properties.

There are several types of landlord cover and you can choose what aspects you would like cover based on your risks, these covers include

• Landlord buildings insurance - this protects the structure of the property and permanent fixtures
• Landlord contents insurance - this protects the landlord's contents
• Property owners’ liability insurance - this is to protect you from personal injury claims or damage claims related to your rental property.
• Unoccupied property insurance -this type of cover you can take out to protect your property while you don’t have any tenants living there. 
• Tenant default insurance -  this can cover your rent for a set period of time if your tenant fails to pay rent.

A landlord is not responsible to protect their tenant's possessions, it's the tenant's responsibility to protect their own personal possessions.  

Limited Company Name Home Insurance

If you have a home owned in a limited company name, you will still need to insure the property. This can be done with various insurance providers, we can help with this and we can do the research on your behalf.

Can I get extra cover?

When insuring your home, you can opt to receive additional coverage for more comprehensive protection. These additional covers include:

• Accidental damage cover - this covers the cost of anything that was caused accidentally
• Personal possessions cover - this covers you for your personal possessions for example mobile phones and bicycle cover
• Home emergency cover -  this will give you extra cover against surprise costs like plumbing and heating issues
• Cost of alternative accommodation cover - this will cover the cost of alternative accommodation if you need to be away from your home due to damage to your property.
• Legal services - this can help with home-related legal costs
• Trace and access cover - this cover will cover the cost of finding the source of a water leak

Some of these covers may come as standard with some insurers but with most, you will need to pay extra. You need to check your policy terms when applying for cover.

Home insurance in UK

No matter what type of house insurance you choose, it is important to understand the different types of coverage available and make sure that you are properly protected in the event of a loss. Taking the time to shop around for a policy that meets your needs is one of the best ways to ensure you have adequate protection.

Comparing quotes from multiple home insurance companies or home insurance comparison sites can also help you find the most competitive rates. With the right coverage in place, you can rest assured that your home and its contents are protected.

With any type of insurance, it is always worth renewing this annually as you may find cheaper home insurance premiums elsewhere or with the same provider. Each time you apply your home insurance policy documents will be sent to you.

Be sure to speak with an insurance professional before making any decisions regarding home insurance.

If home insurance is something you are looking for call us today on 01516620188 or email [email protected]