If you live in an area prone to flooding, you may have to pay more for your home insurance. You may also find that a standard home insurance policy does not adequately cover you. Get flood insurance to cover the costs of flood damage, from removing any debris to repairing your home.
Different insurers have different criteria for what is covered under your contents insurance policy. To be sure, check with your insurance prover to see precisely what’s included. In some cases you may need to get gadget insurance to cover any mobile phones, laptops, tablets and other devices.
Guest House Insurance
Running a hotel or guest house comes with additional risks to your property. To make sure you’re properly covered when you need to make a claim, you should get guest house insurance. These policies typically cover both your building and its contents, and can also protect you against legal costs and any loss of income.
Holiday Home Insurance
Most home insurance policies will only cover you for one property. So, if you’re lucky enough to own a second home, maybe by the seaside or in the countryside, you will probably need to take out a separate holiday home insurance policy.
Home Appliance Insurance
To protect the essentials in your home, such as your oven, fridge and washing machine, you may need to get home appliance insurance. Check with your insurance provider to see exactly what’s covered and compare the cost of any home appliance insurance against individual extended product warranties to see which is cheaper.
Again, check with your insurance provider to see what’s covered by your contents insurance policy. In some cases, you may need to take out separate jewellery insurance to protect your jewellery, watches and other valuable items.
Renting out your property can be a great way to make money, but it comes with risks. Because of these added risks, you should think about getting a specialist landlord insurance policy, which is usually more expensive than standard home insurance. You can generally add extra cover for things such as loss of rent, landlord liability and alternative accommodation. Landlord insurance is sometimes known as buy-to-let insurance.
Listed Buildings Insurance
If you live in a listed building, you must make sure your home insurance provider is aware of this. You may need to get listed buildings insurance to ensure you’re properly covered. You also need to be accurate when declaring the property’s rebuild value, as this can often be considerably higher for listed buildings.
New Build Home Insurance
You may think that living in a new building you are safe from any damage to your property. But faults often appear with new build properties, so it’s essential to get home insurance to make sure you’re covered if any problems were to arise.
Over 50s Insurance
Some insurance providers offer home insurance policies specifically for people aged over 50. Unlike life insurance, where your premiums tend to go up the older you get, with home insurance you’re likely to be rewarded with cheaper cover. This is since older people are seen as more experienced homeowners than younger people and are therefore less risky to the insurer.
Students don’t tend to have a lot of money, and therefore many don’t insure their property. But if a student’s laptop is stolen, it can be disastrous. Whether you live in halls or a shared flat, you can get student home insurance to protect any valuables you have against theft or damage. However, cover for high-risk items such as bikes and computers may need to be bought as add-ons.
As a tenant, you shouldn’t have to get buildings insurance as that lies with the responsibility of your landlord. However, to protect yourself against the theft or damage of any of your belongings, you need to get contents insurance for tenants.