Insurance Friendly Guide –
Home insurance
explained

Almost every mortgage lender insists you have building insurance right from when you exchange contracts. If you don’t, then your lender may not give you a mortgage to buy your property.

This covers your bricks and mortar,he roof over your head, walls and windows but also permanent fixtures for example your slick newly fitted kitchen and bathroom. Every policy is different but they should all cover you for flood, fire, storm, theft, falling trees and more. We can help you find a water tight policy for what you need.

Many insurers charge more money for things like accidental damage or legal expenses. Let us guide you through the small print to help you decide what is worth paying for and what simply isn’t.

Many policies do not cover wear and tear, acts of terrorism or if your property is unoccupied for more than 30 days. Make sure you choose the right cover for you.

Enough to cover the costs of rebuilding your home from scratch. This is not the same as how much you bought the house for and is often a lot less. We like the Association of British Insurers website which has a tool to help you work out the accurate cost of rebuilding your home. For advice on how much cover you need, contact us.

Tenants don’t have to have buildings insurance but landlords do. For landlords you should protect your property as you would any home. Many companies offer additional protection for legal expenses or to guarantee a rental income. For advice on specialist landlord cover, contact us.

No, BUT it is very risky not to have any contents insurance in place. We strongly recommend that you protect what is yours.

Most contents insurance policies cover all the contents of your home against loss or damage caused by theft, fire, storms, flooding, explosions and more. BUT every policy differs and it’s usually hidden in the small print. We can make sense of that and advise you on the best policy.

Many insurers charge more money for things like accidental damage or legal expenses. Let us guide you through the small print to help you decide what is worth paying for and what simply isn’t. In addition to this you may have valuable items or personal possessions – a piece of jewellery, phone, the latest music system or musical instrument. You should cover these valuable items separately in your policy to make sure that if the worst happens you are covered.

You may be surprised by how valuable you contents actually are. You need to try and cost up every item you would take with you if you decided to move. Take each room at a time and add everything up. Don’t forget those items that move rooms with you – like mobile phones, tablets, laptops or your clothes and jewellery. Also think outside the house – do you have a garage or shed? You need to include every possession you own to calculate the amount of cover you need. As a rule of thumb the contents for an average family of four could amount to £60,000!

If you are a tenant you should take out contents cover to protect possessions as your landlord will not cover you. Some insurers will not cover you if you live in shared accommodation or if it is furnished – but plenty will. Contact us and we’ll find the right insurer for you. If you are a landlord, particularly one that offers furnished accommodation, you should also have contents insurance. Many companies offer additional protection for legal expenses or to guarantee a rental income. For advice on specialist landlord cover, contact us.

Whilst money may be tight if you are a student, contents insurance is important particularly if you have an expensive laptop or bike. Sometimes it makes sense to be added to your parents’ policy but often it is cheaper to take out your own policy.