Is Home Insurance Worth it?
Emergency situations are impossible to prepare for, consequently, people are rarely financially prepared for when their home is subject to an accident, adverse weather damage, a fire, or theft. However, these things do happen, building repairs are expensive and with most properties holding approximately £25,000 of contents, home insurance is the most sensible way to be ready for the worst.
Policies are flexible and most providers will either offer you a joint buildings and contents insurance policy or provide you with the option to buy them independently. It’s also possible to add-on optional extras depending on the level of coverage you think you will need.
British Gas Home Insurance Review
British Gas offer their standard Buildings and Contents insurance which is a combination of the two policies below. They also offer, as standard:
- 20% off insurance when you buy online
- An online account to manage your policy
- A UK based 24 hour claims line
If you prefer to purchase your policies separately:
Helps protect the structure as well as the fixtures and fittings of your home. They offer buildings cover up to £1 million.
This policy helps protect your possessions including furniture, electrical equipment and jewellery. They offer contents cover up to £85,000, with a £12,000 limit for single valuable items
If you book online then British Gas offer 20% off any extras for the first year.
- dental damage - Add to your cover for protection against accidents at home
- Personal possessions – Protection of your personal possessions when you’re away from home, such as your laptop and mobile
- Bicycle cover – This insures your bike and accessories against damage and loss, anywhere in the world
- Garden cover - Covers garden equipment and furniture against damage and theft
- Student cover – Protection for belongings while your child is at boarding school, college or university
Choosing Home Insurance
When you’re choosing your home insurance, there are many things to consider. We’ve narrowed down some of the key elements of home insurance which you should be looking for.
- Is your property specialist? – If you own a listed building or if your property has an unusual feature such as a thatched roof, you may need specialist cover
- Do you need buildings and content cover? – It’s generally advised that you take out both but it does depend on your individual circumstances
- Make sure the policy provides enough cover for you – All policies have their limits and it’s wise to make sure that your home is covered for the rebuild value rather than the market value. Cost your contents to make sure the policy will be enough to cover it all, most people vastly underestimate how much their home contents are worth
- What is New for Old and do I need it? – New for Old cover for your possessions is worth considering, it’s offered as standard in many contents policies now. It simply means that you will receive a similar but new product to the old item, rather than the value of the old one.
- What excess are you able to pay? – Many home insurance policies come with excess charges, both voluntary and compulsory, so make sure your chosen provider’s excess policy works for you