How to Insure Your House

How to Insure Your House?

Do you know how to insure your house?

We all know that our home is likely to be the biggest investment we will ever make in a lifetime which is why it is so important to carry the proper insurance to guard against loss.

House insurance, sometimes referred to as homeowner’s insurance is of vital importance. One catastrophe could totally wipe out everything you have worked for so hard all your life.

Of course, many mortgage lenders require you to carry house insurance to protect their investment so if you have a mortgage you may have at least the house insured. However, contents insurance cover is optional and a good cover to have for a few pounds more a month. Bear in mind, if you suffer significant damage to your house, you may also lose a good deal if not all of your contents as well!

The Basic House Insurance Policy

Sometimes a basic house insurance policy is also called buildings insurance because it covers the structure itself. This includes any permanent fixtures such as chandeliers, ceiling fans and built in shelves or cabinetry.

How to Insure Your House

Some house insurance policies also cover out buildings such as detached garages, but not all policies provide this cover so it is important to check before purchasing a policy.

House insurance covers such things as fire, theft of fixtures (copper is a big issue these days), storm damage and sometimes floods as well.

Usually water damage due to burst pipes is covered and fuel leakage from furnaces is usually covered as well. Whether the house is a total loss or there is partial damage, house insurance would cover the loss above the excess you choose.

back to top

Why You Need Contents Cover

Although you may have house insurance, a basic policy doesn’t generally insure the contents against loss, damage, theft or fire. On house insurance policies this is an optional cover which generally only costs a few pounds extra each month, but is well worth the cost. One thing to be aware of is the fact that most contents insurance policies have limits which may not cover some of your valuables within the house.

If you have extremely costly items like works of art or jewellery, you will need to list them separately and additional cover may be needed. Even so, spending a few pounds now to protect against the loss of tens of thousands of pounds later is a small price to pay. Some items may be too expensive to be covered on optional contents cover on a house insurance policy so you may need a specialist policy. Make sure to check out policy limits before choosing an insurance policy or the company you purchase it from.

Popular House Insurance Companies

Although there may be dozens of house insurance companies in the UK, not all are as reputable as they should be. The best thing you can do is get quotes from a variety of insurance companies whether you simply require basic house insurance or if you want optional contents cover. This way you can find a policy which is affordable to you whilst having the peace of mind in knowing you will get the service you require should you need to make a claim.

Some of the most popular house insurance companies in the UK are Direct Line Insurance, Barclays Insurance, Aviva Home Insurance, Saga Home Insurance and Churchill Insurance. There are a number of other good companies to choose from but these have received excellent customer reviews and have been doing business in the UK for quite some time. When choosing house insurance, get several quotes and take the time to see what others are saying about that company’s claims history.

After all, if you need to file a claim in the future, you want to know you are dealing with a company willing to pay up. House insurance is of vital importance to any homeowner, with or without a mortgage, so take the time to find a policy that has the cover you need at a price you can afford. You never know when disaster can strike, so be prepared.

back to top