Home Insurance and Contents Insurance

Home Insurance (Home Insurance) belongs to(General Insurance type of products.).

This type of policy may be used to protect a private property which you own and you live in. Building Insurance (Building insurance) and/ or Contents Insurance (Contents Insurance).

In most cases people possessing a property with a mortgage are required to have at least Building Insurance.

People who are not the owner of the property but are only renting a house or aa flat in which they live can also protect their movable belongings (Contents Insurance).

Most of the insurance companies offer the following types of policies:

1. Home insurance in the UK - Building only Insurance

The events that are covered by the insurance as standard:

• Fire, smoke, explosion, thunder strike, earthquake,
• Riots, turmoil, strikes or political disturbance
• Malicious damage or vandalism
• Theft or attempted theft,
• Storm or flood,
• Building subsiding or heave,
• Impact or collision
• Water or oil spillage.

Additionally the following may be included in the home insurance:

• Owner liability (usually up to £2,000,000),
• Alternative accomodation (including pets).

Most common exclusions:

• policy excess – the amount that needs to be covered by the insured person in case of the event that is covered by the insurance;
• policy excess- in case of water or oil leak as well as subsidence or heave, the excess is higher than a standard one,
• loss or damage in case the property was unoccupied for a period longer than 60 days,
• loss or damage caused by damp or decay,
• storm or flood damage to the fence, hedge, gates.

2. Home insurance in the UK – Contents only Insurance

The events that are covered by the insurance as standard:

• Fire, smoke, explosion, thunder strike, earthquake,
• Riots, turmoil, strikes or political disturbance
• Malicious damage or vandalism
• Theft or attempted theft,
• Storm or flood,
• Building subsiding or heave,
• Impact or collision
• Water or oil spillage.

Additionally the following may be included in the home insurance:

• Owner liability (usually up to £2,000,000),
• Alternative accomodation (including pets).
• Garden plants and bushes,
• Electronic data,
• Theft from the outbuildings or garage located within the property boundaries,
• Office equipment if one is working from home,
• Changing of locks.

Most common exclusions:

• policy excess – the amount that needs to be covered by the insured person in case of the event that is covered by the insurance;
• policy excess- in case of water or oil leak as well as subsidence or heave, the excess is higher than a standard one,
• loss or damage in case the property was unoccupied for a period longer than 60 days,
• if the property is left overnight unoccupied, the doors and windows should be closed appropriately (see the policy terms),
• Insurance limit per one object (for example up to £5000) or jewellery (for example up to £2000)- in the event if the specific object is worth more than the specified limit in the policy, it can be detailed which will provide the full cover (usually that means the premium is higher).

3. Linked Building and Contents Insurance

Includes the elements of both above policies.

Both building and contents insurance may include accidental damage which extends the insurance to unexpected accidents such as spilling coffee on the carpet.

4. Personal Possession Cover

Additional option giving the client protection from accidental damage or loss of items used at home or away from home. The most frequently included items

• Jewellery,
• Clothes,
• A mobile phone,
• Keys
• A watch, glasses, camera.
• Sport equipment,
• Cash and Debit/Credit Cards

5. Additional benefit Family Legal Expenses – legal protection

Additional benefit- legal protection covers the cost of legal expenses in relation to matters such as:

• Legal protection,
• Grievance with employer,
• Contractual disputes
• Injuries,
• Medical negligence,
• Ownership protection
• Tax protection.

Are you looking for home insurance? Contact us.