10 Things You Need To Know About Home Insurance – InsuraHome

Under-insuring

One thing that cannot be stressed enough, is to not underestimate the value of the contents in your home, as it could cut your claim by the amount that it is underinsured by.

For example, if you declare £15,000 worth of contents cover but the contents are actually worth £30,000, and you need to make a claim following a theft for £10,000, the insurance company may only pay out half of this at a reduced amount of £5,000 as only half the cover that there should have been was in place.

This is sometimes called an ‘average’ clause in the policy wording.

Digital Purchases

When declaring the value of your contents, it is also worth considering the value of any digital downloads on your electronic devices such as music, games and films. This is often forgotten about but over time, could add up to a fair amount of money. Check your home insurance policy carefully to understand if this is or is not included. If not, it may be offered as an optional add-on.

Empty Homes

Most home insurance policies will only offer cover for up to 30 days of a property being empty which can cause a problem if you have inherited a property or are moving home before selling your existing house.

InsuraHome Home Insurance can offer specialised unoccupied home insurance which can offer flexible periods of cover for 90 days, 180 days, 270 days or even annual cover, with the ability to extend. Problem solved!

Locks and Burglar Alarms

If incorrect information is provided on the security of your home, such as exaggerating on the strength or number of locks in your home, this could result in your claim being denied. Also, just by having locks and a burglar alarm is not enough. If you fail to lock your windows or doors or fail to activate your burglar alarm, your claim may be denied because you’re not making use of the devices that offer protection to your home.

Home based working / Business

Should you be self- employed and work from your home, although you may not believe your occupation could impact on your home insurance, you still need to make the insurers aware.

Be upfront about your career choice from the outset as you may need a different kind of home insurance depending on your business. For example, if you will be having customers visiting you at the property, you will need coverage in place in the unforeseen event an accident occurs and someone is injured in your property. Working from home time to time is okay and may not need declaring as it is not a permanent arrangement.

Accidental Damage

Some home insurance policies will not cover accidental damage as standard, so it is always worth double checking with your provider or asking if this Is available as an optional add-on benefit for an added cost. Accidental damage would cover accidents such as breaking a piece of furniture, spilling paint on your sofa, leaving a tap on and other household accidents.

There is different accidental damage cover available for both your building and its contents, so check your policy wording to learn what is included and excluded.

Damage and Breakages

If there is a problem with your property, such as a leaking pipe or damage to the roof, don’t wait for it to get worse before submitting an insurance claim. If something needs repairing that could leave significant damage or get worse, have this fixed immediately. Waiting for your insurer to process your claim could lead to it being dismissed later down the line as you could be accused of knowingly allowing the problem to continue and get worse, potentially leading to a higher claim than originally estimated, which the insurer may refuse to pay.

However, before taking on any work to fix a problem, speak to your insurer to inform them about the problem and that there may be a claim later down the line.

No Claims Discount

Similar to Car Insurance, some Home Insurance providers may offer a ‘No Claims Discount’ (NCD) or may reduce your price year on year if you haven’t made a claim on your home insurance policy. It is worth considering that sometimes, the cost of repairs may be less than the excess amount payable on the policy. So, it is always worth checking these things before making a claim rather than losing your NCD.

Sub-lettings

Sub-letting your home will most likely be something that isn’t necessarily covered on a ‘standard’ home insurance policy. If you do decide to sub-let your home, ensure you make your Home Insurance provider aware beforehand to find out if they can still provide you with suitable Home Insurance cover for your situation.

Exclusions

All Home Insurance policies will have their own number of exclusions and an exclusion is something that is absolutely not covered by your Home Insurance policy. So, make sure you read the Policy Wording carefully to know what’s included and excluded in your policy. You may find that you need cover for something which may be an optional extra rather than included as standard.

Most ‘standard’ home insurance policies become invalid if the homeowner or any occupants living in the household have a criminal conviction. Something, that is often forgotten about or missed when purchasing a home insurance policy.

Get covered with InsuraHome Home Insurance

At InsuraHome Home Insurance, we understand how important it is to guard your home from the unexpected. To get an InsuraHome Home Insurance quote, call us on 01483 806 815 or visit our website at www.insurahome.co.uk to download and complete an online home Insurance quote proposal form and application form and simply send it to us – we’ll do the rest to get you a Home Insurance quote!

This article is for information and entertainment purposes only. It does not constitute advice in any way. The information provided here is correct at the time of writing however please check the latest policy wording here for the latest policy terms, conditions and exclusions.