Finding the right home insurance

Unlike car insurance, home insurance in the UK is not mandatory. However, it’s recommended that everyone should get both contents and buildings insurance to protect their home and belongings should the unexpected happen. Without home insurance you will have to pay for any repairs or replace any valuables yourself. Also, many mortgage providers will require you to have home insurance until the end of your term at least.

Many factors go into determining how much you pay for your home insurance. Your insurer will take into account the size of your home, the property’s rebuild value, the value of your contents and the area you live in. The level of cover you require will also affect your premiums, as will any extras you include in your policy. You will also be rewarded with cheaper premiums the longer you go without making a claim.

Buildings insurance will protect you against the costs of repairing your home after a fire, flood or other serious damage. Meanwhile, contents insurance will cover the costs of any damage, loss or theft your belongings inside your home. Always check with your insurer to see exactly what’s included, as it varies from policy to policy.

Your credit score will not affect the cost of your home insurance. However, it does affect how you are able to pay for your home insurance. If you want to spread the cost of your home insurance by paying in monthly instalments, your insurer will run a credit check on you to assess your ability to pay. But if you choose to pay for the whole year, then you won’t need a credit check.

Like most types of insurance policy, you will have to pay an excess to make a claim on your home insurance. There are two types of excess – compulsory and voluntary excess. Your insurance provider will set your compulsory excess, but you can decide on what your voluntary excess is. Generally, the higher your voluntary excess is then the cheaper your monthly instalments will be. However, be careful as not to set your excess too high, as you need to keep it affordable to make a claim if you need to.

A single article limit refers to the maximum amount your insurance provider will pay out for a particular item. This will vary between providers and also the covered items themselves. Make sure you’re aware of any single article limits placed on your valuables so that you know exactly how much you’re covered for.

If you have a mortgage or own your home, then you will only be insured if you’ve bought home insurance yourself. If you’re not sure, have a look at your bank statements to see if there’s any evidence of payment, or your emails to see if there’s any correspondence with an insurance provider. If you rent your property, it’s the legal requirement of your landlord to get buildings insurance. However, it is up to you to get contents insurance to protect your belongings.

If your home is burgled, the first thing you should do is call the police and take note of the crime reference number. You must then call your home insurance provider to let them know of the situation, and provide them with any photos you have as evidence. You may also need receipts for any belongings that have been stolen, or bank statements proving the purchase. You will then need to pay the excess – both the compulsory excess and the voluntary excess that you set yourself – in order for your insurer to pay out.

If your home is damaged by fire, flooding or any other event, take photographs of the damage and call your insurer to provide them with all the details. Your insurance provider will then assess what repair work needs to be done and will either reimburse you for the repairs you make or provide you with a contractor to do the repairs themselves. Again you will need to pay the excess.

You should always assess whether it’s worth making a claim. You will have to pay the excess yourself, and you may also lose your no-claims bonus if it’s not protected, meaning your home insurance premiums could go up in the future. Take a look at our guide on how to claim on your home insurance for a comprehensive answer

If you carry out any building work on your home, you need to tell your insurer about any changes you’re making. If you don’t let your insurance provider know of any changes structural changes to your property, then your home insurance policy could become invalidated when it comes to making a claim. Small changes, such as upgrading your bathroom, may not need to be declared, but it’s always worth checking with your insurer just to be sure.

Before you do any major work, you must provide your insurer with all the information they need. Depending on the situation, there will either be no changes to your policy, your premiums may increase slightly, or the renovation work may not be covered at all. If your insurance provider refuses to cover the work being done on your home, it may be worth getting renovation insurance, which will cover the cost of any damage to your property, theft of your contents or personal accidents during the renovation work.

Most contents insurance policies will cover the costs of any damage or loss of your belongings inside your home. However, if you want to extend that protection to when you’re outside of your property, you may need to add personal possessions cover. This provides you cover for the loss, theft or damage to items such as laptops, mobile phones and jewellery when you’re out and about. But you still need to look after your things. If your insurance provider believes you were negligent regarding your possessions, you most likely won’t receive a payout.

Typically, your garage, shed or any other outhouse on your property should be covered by both your buildings insurance and contents insurance. Garden insurance is also usually included with your contents insurance, meaning your pots, plants and other garden furniture should be protected. However, you should check with your insurance provider before taking out a policy to see exactly what’s covered, as the level of protection provided varies significantly between insurers.

Yes. Wherever you are, you should be able to find a home insurance policy to meet your needs. However, if you live in an area prone to flooding then you may have to pay more than average for your cover. But due to a government initiative called the Flood Re scheme, it’s now easier than it ever has been to find flood insurance at an affordable price.

When applying for a home insurance policy, you may be asked about any trees in close proximity to your home. This is because trees pose a risk to the structure of your property, from either falling onto your home in high winds or through root damage. If you have any large trees within a few metres of your home, you may have to pay more for your buildings insurance, or some insurers may not even cover you at all.

Of course, there are plenty of reasons why people might want to cancel their home insurance. If you have only recently taken out your home insurance, then cancelling is pretty simple. Legally, you have a two week “cooling-off” period, where you can cancel the policy easily. However, any time after the cooling-off period it is more difficult. Most providers will give you a pro-rata refund providing you have no claims for that year. It is often easier and cheaper to run down your deal before changing policy and wait until your annual renewal date.

Home insurance isn’t strictly required by law, but protecting your home with insurance is highly recommended. Most mortgages have made it a condition that you should at least have buildings insurance in place. Although contents insurance is up to you, it is worth asking yourself if you could afford to replace all of your possessions yourself if they were to be stolen or damaged.