General questions about home insurance

What is home insurance?

Home insurance falls into two categories: buildings and contents. Simply, buildings insurance covers the structure of the building plus immovable items (such as baths), while contents cover insures possessions including your furniture.

What does it cover me for?

Buildings insurance will cover you if your property is destroyed or damaged (for example, by fire) and pay for repairs after any excess is paid by you. Contents insurance covers your furniture and possessions from damage, destruction or theft. You might also have accidental damage cover which pays out if someone in the home has an accident (such as spilling paint on the furniture).

What’s not covered?

You’ll usually have to pay an excess on your claim – for subsidence claims, this could mean paying the first £1,000. You won’t be covered if you breach the terms of your policy – for example, if you leave your front door unlocked, you could find a burglary claim rejected.

Do I have to have it?

You are not required by law to have home insurance, but it's extremely unwise not to protect your home. If you have a mortgage, then your lender will usually stipulate in the terms and conditions that you have buildings cover. If you live in a leasehold property, then you may be covered under a block policy. Again, contents insurance is not a legal requirement, but it’s not usually too expensive and could cost much more to replace items otherwise.

Do I buy them together or separately?

Most people buy buildings and contents together, although you can buy them individually.

What will I get from my home insurance policy as standard?

You should always check the full details of your policy, as each one is different. What you get will often depend on how much the policy costs.

Will I have a choice of ways to pay?

Yes, most insurance companies now accept payment by direct debit, standing order, monthly credit card payment or one off credit card or debit card payment. If you pay monthly you will usually pay more as interest will be added.

How do I renew my home insurance?

Your insurer will usually send you a renewal notice detailing your premium for the next year of insurance approximately four weeks before your policy expires. Before you accept, have a look at other quotes to see if you can save money: never accept a renewal quote without checking if you can do better.