Home Insurance - What Cover To Pay
This is down to you and your requirements. You
can read up about the different cover types in more detail
on the policy cover page.
First, decide upon your requirements.
Do you own the buildings?
Do you live in a flat or a bed sit?
Perhaps you just need to cover your contents?
Are you accident prone?
Do you have children?
What sort of property do you live in and do you have a lot of
valuable items or just simple, basic furniture?
Thus, you have to chose (for both buildings and contents) if
you need, and can pay for, accidental damage cover or if you
can live with just the basic perils covered. Considering
questions like these will help you decide.
Second, calculate the value of the risk you are
proposing to the insurer. This means, for your buildings,
noting down the type of property (number of bedrooms, style,
age) and working out the physical size of the building. If you
live in a block of flats or with others sharing a building, you
will need to get together and do this then buy one policy for
all of you.
For the contents, you should write down a list
of every thing you have and note beside it the replacement
value (you want 'new for old' cover don't you?). Too much like
hard work? Sounds as if you need a bedroom rated policy. It
will save all that work but you might be paying out a higher
premium for higher sums insured than you need to.
Third, consider all those special items and
valuable pieces you have. If you have any valuable jewellery,
antiques or works of art, I strongly recommend you have them
listed as specified items on your policy. This will cost a
little extra but well worth it. Before doing so, get each piece
professionally valued (and if jewellery, gem checked) and
photographed. Similarly with bicycles, expensive camcorders,
laptop computers and so on. Indeed, anything of value that you
take out and about with you.
Fourth, I recommend you take out cover for
unspecified items outside of the home. This cover should also
give you accident damage cover for these items within your
home. The only people that do not require this cover are those
that never go outside their front door! It will also cover you
for your basic baggage whilst on holiday thus saving you on
your travel insurance. And the cover is better! (Travel
insurance always pays indemnity - they take off wear and tear.
Your unspecified cover, if you follow my advice, is 'new for
old' - except clothes).
Fifth - liability cover. This is a must have.
It is always provided free with your other cover. Make sure you
have it on both buildings and contents if you are an owner. If
you do not own buildings, then the liability cover on contents
is fine on its own. Its a bit like having 'third party' cover
on your car (although not legally compulsory).
Lastly, there are the extras many insurers now
provide. Such as free legal help lines and emergency assistance
providers. My personal experiences of these services is not
that favourable. I usually end up getting out the 'Yellow
Pages'. Then all you have to do is buy the cover you want.
Chose an insurer who has a good reputation, even if it costs a
little more. All of the insurers featured on our site have a
good reputation !!.....and of course they offer great value for
Q: How did it happen?
A: Removing engine from car.
Engine fell and jammed my hand against chassis.
Q: What were you doing at the
A: Yelling like mad!
|Extracts taken from actual claim
forms submitted to
a number of UK car insurance companies