What is Home Insurance and why do I Need it?
An emergency situation at home cannot be anticipated and so people are rarely financially prepared for when their property is subject to an accident, adverse weather damage, a fire or theft. Building repairs are expensive and with most properties holding approximately £25,000 of contents, home insurance is a good way to be ready for the worst. Home Insurance is generally separated in to buildings and content cover.
You can normally purchase these policies together as one joint cover plan from most providers or you can purchase them separately. Buildings insurance will cover the structure of your building and will include the walls, windows, floors and ceilings; it will also include the fixed amenities in your household, such as the bathroom and kitchen suites. Contents insurance will cover your personal items, including jewellery, as well as your electronics, carpets, curtains etc.
Halifax Home Insurance Review
Halifax offer a unique option for their policies in that you can choose what you cover to include in your policy depending on your needs. They also offer a range of incentives.
- You can receive a 10% discount on insurance policies if you’re an Halifax online banking customer, plus £50 cashback
- If you’re not a Halifax online banking customer then you can still get £50 cashback. When you buy a combined buildings and contents policy, hold it for 70 days and pay your first premium you will receive the reward
- No insurance is charged on monthly installments
You can choose between two levels of insurance cover:
You can personalise this policy by selecting your ideal cover limits and excesses, and additional cover options, such as:
- Accidental Damage Cover
- Outbuildings Cover
- Contents In Outbuildings And In The Open Cover
- Personal Belongings Away From The Home Cover
- Pedal Cycle Cover
- Students' Contents Away From Home Cover
- Legal Expenses Cover
- Home Emergency Cover
Home Insurance Ultimate
Their second policy options is equally customisable but comes with higher limits and more cover as standard, including:
- Unlimited Buildings Insurance
- Unlimited Contents Insurance
- Unlimited Accidental Damage Cover
- Unlimited Outbuildings Cover
- Unlimited Replacement Locks and Keys Cover, with no excess to pay
- Contents in outbuildings covered up to £10,000, and in the open up to £2,000
- Generous alternative accommodation cover limits
Details you will need when applying for Home Insurance
Being prepared for applying for home insurance can speed up the whole process. Your answers could affect your policy options as listed buildings and buildings with special feature such as thatched rooves may not be covered by a standard policy. Below are some examples of the information you will need to hand when applying.
- The age of the property
- Whether or not it’s a listed building
- The type of property. For example, a bungalow, town house, maisonette or semi-detached house etc.
- Whether you’re renting or own the property
- Whether the property is used for business?
- Who is living there, whether it’s just you and your family, or anyone else?