Is Hiscox home insurance right for you?
Insurance can cover you against the unexpected, such as: theft, fire, flooding, accidental damage, and a number of other things. Home insurance is designed to protect your home against damage to the property itself or to the contents within it.
Home insurance falls in to three categories:
- Buildings insurance
- Contents insurance
- Joint buildings and contents insurance
This will take care of the actual structure of the buildings and the permanent fixtures within the property. If you are a homeowner, you will normally need buildings insurance as a condition of your mortgage. If you are a renter, your landlord will normally take care of this for you.
This covers your possessions including your electronics, carpets, curtains, jewellery etc. Contents insurance is highly advisable for both homeowners and renters.
Joint buildings and contents insurance
This will give you both buildings and contents cover and is strongly recommended for all homeowners. However, depending on your personal circumstances and requirements, it may sometimes make sense for homeowners to buy buildings insurance and contents insurance separately.
Hiscox Home Insurance Review
Hiscox home insurance is the leading UK insurer of higher value homes. Their customers can take advantage of:
- Accidental loss and damage cover for buildings and contents
- 24 hour home emergency cover for domestic emergencies with up to £500 for parts and labour and no excess to pay
- Valuables worth up to £15,000 are covered without listing them individually
- Worldwide cover for theft, loss and damage of your possessions when temporarily away from home
- Tailored high value jewellery and watch cover
- Cover for your your garden, including furniture, bikes and sheds
Hixcox buildings cover
- Unlimited cover for buildings against sudden events that damage the property
- Alternative accommodation if your home can't be lived in (housing for your family and pets, up to £150,000 over 3 years)
- Garden cover up to £25,000 to fix garden damage (includes removal of fallen trees, fixing any damage they cause and plant replacement up £1,000 per plant)
Hiscox contents cover
- Unlimited cover for content (only items worth in excess of £15,000 need to be individually listed)
Optional extra cover
These options are a great way to make your insurance policies fit your personal requirements.
Accidental Damage Cover
Protects you for accidental damage whether you’re at home or away.
Home Emergency Cover
Provides up to £1,000 of cover per claim for emergency repairs at your home, all arranged by us and carried out by one of our approved contractors
Renovations and Extensions Cover
Provides comprehensive protection for your home if it’s undergoing building works over £75,000. Hiscox Home Insurance automatically includes cover for building works up to £75,000
Legal Expenses Cover
Protects you and your family with up to £100,000 to cover the cost of negotiating and pursuing your rights against a wide variety of legal problems
Optional no-claims discount
Protection allows you to make one claim per policy year without reducing the no-claims discount you've built up
What is an Excess?
Like most home insurers, Hiscox require you to pay an excess when making a claim. Generally, the lower your monthly premiums, the higher the excess will be or more restrictions that will be applied when it comes to claiming.
There are two kinds of excess: a compulsory excess and a voluntary excess. Compulsory means that your insurer will set the price and you must pay it, whereas a voluntary excess is set by you.
Remember to set your voluntary excess carefully. If you're willing to contribute a large amount when making a claim, your insurer will reward you with a lower premium, but this will make claiming on your policy more expensive.