Whether you’re buying your first home or upgrading your property, getting home insurance is vital. Although it’s not a legal requirement to have home insurance in the UK, most home buyers will struggle to get a mortgage without one. Despite how well you might look after and secure your home, there is never a certain way to completely eliminate the risk of theft or damage from criminal behaviour, natural disasters, or problems with the infrastructure of your area, such as sinkholes that can cause significant damage to a building. In these instances, you will be glad to have a home insurance policy that covers all or most of the cost of necessary repairs and provides funds to replace any belongings where necessary.
Here are some of the main reasons why home and contents insurance is so important.
Protect against theft
Home contents insurance is recommended for everybody, whether you own your home or are renting from a landlord. If you are a tenant, your landlord should provide the insurance that covers any damage to the building itself, but you are responsible for making sure that your belongings inside are adequately insured. If you are the victim of a break-in and valuable items are taken from your home, having a good contents insurance policy will make all the difference. You can claim on the policy for the value of your items, allowing you to easily replace them and get on with your life. If you have valuable electronics, jewellery, and other items that might attract thieves at home, it’s definitely worth investing in contents insurance regardless of your living situation.
Protection from loss
Anything can happen to your home when it comes to accidents. Fires break out for a number of reasons, and floods can devastate homes that are located close to water. Sinkholes can open up and damage the structure of your property, and if you’re not covered by home insurance, these instances can lead to very costly repairs if you want to get your home back to normal. A good home insurance policy will also pay out if your home is unliveable due to damage and you need to find temporary accommodation, or even if you require a new home altogether. It can really mean the difference between being homeless and finding somewhere else to stay quickly after serious damage to your home. Head to this site to do a home insurance comparison and find quotes that suit you for both your building and contents. Quotezone allows you to simply enter your details and browse the home insurance policy options available to you.
Keep our family safe
As mentioned above, the right home insurance policy will help you financially when it comes to finding somewhere alternative to stay if your home cannot be lived in for any reason. Whether you have been the victim of a fire or a flood, chances are that your home will be dangerous to live in for some time and may require some extensive repairs. And, packing up to stay with your parents or friends might not always be an ideal situation. Your home insurance company can help you arrange alternative accommodation in a hotel or holiday home close to the amenities that you need, meaning that you and your family will find it easier to get on with your day-to-day life after a disaster.
Choosing the right home insurance policy
It’s important to make sure that you provide all relevant information when getting home insurance. If you do not, then there is a chance that your policy could be void in the event of making a claim, leaving you with no financial protection. You should answer all questions correctly when applying for insurance and especially note if your home is at a higher risk than others for certain disasters. For example, if your home is located near a key body of water, your flood risk is likely to be higher and the insurance company will need this information to accurately work out your premium. You will also need to provide information about when your home was built and any security measures that you have in place, such as a burglar alarm or CCTV.
Getting insurance for your home contents is also highly recommended. Be sure to go through your home to calculate the estimated cost of replacing everything. Don’t forget to include items such as furniture, white goods, and accessories along with your valuable items. Contents insurance can pay out to replace everything in your home if needed, as long as you have included everything in the policy. You can often save money by taking out a combined building and contents insurance policy.
If you’re first time homeowner or moving into a new tenancy, getting the right insurance policy for your property and contents is one of the most important steps that you will take.