Home insurance is a blanket term that covers two sub-categories of insurance: buildings insurance and contents insurance. The former covers the fabric of your house including any inbuilt appliances, whilst the latter covers anything that you would take with you were you to change house. When you are looking for a new insurance policy there are a few things you should consider in regards to building insurance that will make sure you get just the right policy for you.
One thing to consider is the 'sum insured'. This is the maximum amount that the insurance company will pay you should you make a claim and it is your responsibility to make sure that the sum insured covers the full rebuild cost of your property. It is vital that this amount is an accurate reflection of the rebuild value of your house, if you are under-insured you may find that your claim is rejected. It is also important to keep in mind that the value assigned to your house according to council tax should not be considered as the sum insured, nor is the market value of your house. Another thing is that the rebuild value of your house will vary according to market conditions, so make sure you update it every few years.
Also consider that every policy will have a number of caveats. This will include certain items that may not be included on your policy (such as garden furniture) and will probably also include the size of your excess. Make sure that you read your policy document thoroughly and if there is anything that you are not sure about make sure you ask the company before you purchase the policy.
Most insurance policies will cover you for alternative accommodation if your house suffers serious damage. Nonetheless, you should make sure that your policy does have this money included to pay for this alternative accommodation.
Also remember that piping and cables that supply fuel, electricity, water, and carry sewage away from your house are only insured against accidental damage, and you cannot make a claim against wear and tear upon them. This is particularly important to think about if you are insuring an old house. All glass, on the other hand, is covered against breakage, as are baths, washbasins and WCs.
Home insurance is a vital commodity, but it doesn't have to be expensive and if you do your research thoroughly you will almost certainly find a good deal. Co-Operative Insurance is a good place to begin your search.
