Is John Lewis home insurance right for you?
Home insurance comes in many forms but it basically falls in to three categories:
- Buildings insurance
- Contents insurance
- Combined buildings and contents insurance
Which of these you need will likely depend on your living arrangements. If you own your own home, you will usually need buildings and contents insurance - indeed, having buildings insurance is usually a requirement for getting a mortgage. If you are renting you will likely only need contents insurance as you landlord is responsible for insuring the building.
It’s worth noting that some properties, such as listed buildings or buildings with thatched roofs, may require specialist cover and therefore, would not be covered by a standard policy.
Make sure you always read the fine print of policies as more and more companies are now excluding certain things which you may need and it is good to be aware of extra charges, such as compulsory excesses, exit charges and interest on monthly payments which some companies do charge.
Choosing home insurance from John Lewis
John Lewis offer three levels of cover: Essential, Plus and Premier. They also offer a discount if you book online.
John Lewis Essential Cover
With this policy you can benefit from:
- Buildings cover up to £400,000
- Contents cover up to £50,000
- Alternative accommodation during an emergency up to £60,000
- Optional Home Emergency Cover – up to £500
John Lewis Cover Plus
This policy provides:
- Buildings cover up to £1,000,000
- Contents cover up to £75,000
- Alternative accommodation during an emergency up to £115,000
- Standard cover for accidental damage
- Optional Homer emergency cover – up to £1000
John Lewis Cover Premier
John Lewis' most comprehensive home insurance policy includes benefits such as:
- Unlimited Buildings cover
- Unlimited Contents cover
- Unlimited alternative accommodation in case of emergency
- Full cover for accidental damage
- Home emergency cover up to £1,500
Specialist Home Insurance
John Lewis also provide specialist home insurance which offers:
- Specialist cover for additional homes, holiday homes and buy-to-let properties, both UK and abroad
- Cover for properties with unusual features such as thatched/flat rooves, listed buildings etc.
- Personal protection for your possessions, both UK and abroad
- Accidental cover for buildings and contents
- Specialist cover for fine art an antiques
What is an excess?
Most insurance policies require you to pay a fixed sum known as an "excess" when you make a claim. In general, the higher your excess, the lower your monthly premiums and and the fewer restrictions they are upon making a claim
An example of how excess works: if you have a claim worth £300 and you have a £50 excess, you'll only receive £250 from your provider.
Generally, there are two kinds of excess: a compulsory excess and a voluntary excess. A compulsory excess is set by your insurer whereas a voluntary excess is set by you. Choosing a higher voluntary excess will make your monthly premiums cheaper, but will cost you more if you do need to make a claim.