Home insurance is not only crucial for protecting your home and it’s contents against any potential damage; if you have a mortgage, your lender will require it. Claiming on your house insurance policy is something that everyone wants to avoid but unfortunately, there are times when it cannot be helped. Before you get caught out ensure that you have your most important and expensive asset covered correctly.


How to keep your home insurance premiums as low as possible


When it comes to paying your home insurance premium, while wanting to protect your home and yourself, you also want to only spend what is absolutely necessary. Some things, such as installing smoke and burglary alarms may seem like common sense, but they can save you a lot of money on your home insurance quote. Having secure locks and surrounding fences can also be a beneficial factor as it will reduce to likelihood of break-ins and accidents happening while largely lowering the risk in the eyes of the insurer. Policy extras on insurance premiums can also be something that may make your home insurance quote more pricey. So, make sure to read all the fine print to make sure that you don’t have additional cover that you do not need, before agreeing on your premium.


Some things that are not covered


If you live in an area which is prone to flooding you should inform your insurer of this. You should also apply for additional cover although some companies may not offer flood cover in highly prone areas. Some standard policy exclusions are: earth movements (landslides or sinkholes), power failure, war, government action, nuclear hazard, bad repair for workmanship, Defective maintenance and wear and tear.


Carefully choose what to insure


There will be a large variety of things in your home that are of importance to you. Whether its that pair of “can’t really afford these” designer shoes, that very expensive painting, or even that rocking horse that you’ve had since you were three that was passed down through the entire family. Whether it’s of financial value or sentimental value, decide which of the items in your house you can live without, and which you could never replace.


Building and Contents insurance


Building Insurance will cover the structure of your home: the roofs, walls, ceilings, floors, doors and windows. A standard buildings insurance policy should cover these assets in the event of a fire, explosion, storm or flood, theft, vandalism and subsidence. Contents Insurance should cover all household items such as: electrical appliances, furniture, household goods, personal items and valuables. And a standard policy should cover these items in the event of a fire, theft, vandalism and damage from fire or flood.


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