What is Home Insurance?
There are two kinds of home insurance, buildings and contents. Buildings insurance will cover the structure of your home, usually including the walls, roof, floors, doors and windows, so you could be eligible to make a claim if damage occurs to any of these. It also often includes permanent fixtures, such as bathroom suites, kitchen units and in-built wardrobes, as well as outbuildings like garages, sheds and greenhouses.
Contents insurance will take care of the things that aren’t part of the structure of your home, usually including: Furniture, electronics, jewellery, freezer contents, carpets and curtains, and clothing. However, it does not cover wear and tear, intentional or accidental damage or damage caused by your pets.
RAC Home Insurance Review
- Up to £75,000 alternative accommodation if your home isn’t safe to live in due to an insured event
- Up to £5,000 cover for contents temporarily removed from your home when attending university or college
- Up to £1,000 per claim on outside contents including garden furniture and BBQs that are stolen or damaged
- Up to £5,000 cover for trace and access of leaks
- Up to £500 replacement locks and keys for your property
- New for Old cover, this mean that if you make a claim, they will replace lost, stolen or damaged items with a like-for-like new item
- Flexiable payment options
- UK based call-centres
- Home Assistance Cover for emergency repairs, including: plumbing, electrics, pest control, drains, gas supply, boiler and heating and security.
- Family Legal Protection, including: £50,000 worth of financial support per insured incident for your legal costs, confidential legal helpline 24/7, assistance to cover loss of earnings and damage to your personal belongings.
- Keycare Cover, including: - Approved locksmiths to help you get back in to your home and cover of up to £1000 per year, access to an emergency 24/7 helpline, all keys covered, a free key fob which help RAC return your keys to you.
What does Home Insurance Cover?
Policies can vary, but generally protect against:
- Fire and explosions
- Storms, earthquakes and floods
- Flooding and bust pipes
- Trees, aerials or satellite dishes falling on your property
- Impact damage from vehicles
What doesn’t it cover?
- General wear and tear
- Damage caused by insects and vermin
- You will also not be covered if you have caused the damage yourself , unless you have added accidental damage cover to your policy
How much cover do I need?
Whether you will need both building and contents insurance depends on your circumstances but it’s worth remembering that most people have more than £25,000 worth of possessions in their home.
With regards to buildings insurance, you should insure your property for the amount it would cost to rebuild, not its market value. You won’t have to buy the land again, so the cost of rebuilding is usually lower than its overall value. The optional extras which providers usually offer can be useful, particularly accidental damage cover. None of us expect an emergency so it’s good to have some kind of cover in place to avoid financial difficulties.