Home Insurance

Whether you own your home or not, it makes sense to have some sort of home insurance. You may think that your possessions are not worth that much or that nothing will ever happen to you home, but the truth is that you just don’t know.

The UK has seen hurricanes and excessive flooding which has resulted in property damage in many areas. Burglary can result in the loss of some of your treasured possessions. In fact, some statistics show that a third of us are affected by this crime. That’s why it makes sense to insure your home and contents against loss or damage with Halifax home insurance.

Home insurance can take many forms, with different policies available for homeowners, landlords and tenants. In order to get home insurance you will need to supply the landlord with information about the building you are insuring. That might include when the building was constructed and what forms of security exist, such as a protected entrance or a home alarm system. This will aid the insurer in determining how much risk there is to your property and in setting the insurance premiums that will apply.

Types Of Home Insurance

Buildings insurance is one form of home insurance. This covers the rebuilding cost of your home rather than its market value. That means the level of insurance cover is based on how much it would cost to construct your home again from scratch.

A buildings home insurance policy may also cover your home against damage through vandalism, natural disasters such as storms and floods, subsidence, water leakage and fire. It is best to check exactly what is covered by your particular policy.

Contents insurance can cover anything that is not part of the building. While some home insurance policies cover both buildings and contents, there are also contents insurance policies as part of landlord insurance or standalone contents policies for tenants.

Contents insurance can insure your household goods against damage from fire, natural disasters, vandalism, theft and accidental damage. Some contents insurance policies cover your garden plants as well, while others include cover for items such as mobile phones and laptop computers that you use away from home.

There is a wide variation in what may be covered by a home insurance policy, so shop around for the best premium and the best level of cover. Make sure that you insure for the full replacement value of your possessions (or get new for old cover) and watch out for the excess figures

Home Insurance – Comprehensive, Necessary, and Powerful!

Insurance is powerful. No no, it’s not because we think that you should just run out and get insurance without reading all of the fine print. On the contrary — we would never recommend for anyone to enter into a new contract with anyone until they’ve had time to really think about all of the facts there. Yet there is a point where you have to realize the power of actually having insurance.

A lot of people only seem to hear horror stories on how bad insurance is, only to find that insurance really isn’t that bad. Yes, you’re going to need to pay your premiums every month in order to keep your service active. Yet the peace of mind that you get from knowing that your insurance is going to be there for you is a lot more valuable than any monetary premium that you need to pay.

What type of insurance are we talking about today? It would definitely have to be home insurance. Even though homeowners are required to carry home insurance, many homeowners try to go under the radar by reducing the total coverage that their policy contains, in order to save on the monthly premiums. This is a very dangerous game. Sure, for most people nothing will happen. But if the worst happens and disaster strikes your home, you’re going to be left with absolutely nothing — and that’s absolutely scary. It’s better to make sure that you have things under control in the sense that if the worst happens, you can actually replace the life that you had. You can’t do that if you short yourself on home insurance.

The truth is that while people assume that home insurance is something that has to be expensive, that doesn’t mean that it really is expensive. The reality here is that all things can be affordable if you’re willing to take the time to look. For instance, if your house has a security system, many insurers offer a discount because your house is safe from the start, thus less of a liability. You want to think about home insurance that is as comprehensive as possible. Home insurance should not only cover the actual structure of your home, but the garage and the basement as well. You would be surprised at some of the exceptions in insurance policies that we see. Protection is well worth the additional costs, and you want to always be looking to make sure that your policy covers the things that matter to you. Storage sheds on your property should also be covered from loss, theft, and damage.

As you can see, home insurance isn’t just something that’s nice to have — it’s comprehensive, necessary, and powerful! Get your policy today!

What’s on offer from high-value home insurance?

If you’ve ever considered taking out high-value home insurance but have dismissed it because you don’t think it’s suitable for you or are concerned about the cost, I’d strongly advise you to take another look.

After all, what’s the use in paying for a policy that doesn’t fully protect your most valuable belongings? There’s nothing more frustrating than making a claim only to have it rejected because the item in question falls outside the remit of your insurance – or to discover you can’t recover the full value of your most prized possessions because they are worth more than the maximum amount paid out on individual pieces.

In addition to ensuring all your most valuable belongings are fully protected, high net worth home insurance has a host of other benefits. Here are just a few that certainly make it worth considering:

Global protection

Do you frequently jet off around the world, either for work or pleasure? If so, do you often take expensive items of jewellery with you like your favourite watch, earrings or necklace? Yes? Well, in that case high-value insurance is definitely for you.

Many policies will provide worldwide protection for cash and credit cards, as well as offering all-risk cover for high-value pieces of jewellery. What this means is that you can make a claim if any of your jewellery is damaged or lost in a situation not specifically excluded by the policy.

Obviously, you’ll need to read the small print carefully to find out exactly what these exclusions are, but double-checking the specific terms is something you should do with any insurance document.

Specialist cover and valuations

If you have a collection of artwork, antiques, wines or even guns, you should get your possessions valued and insure them accordingly. Providers of high-value policies are specialists at dealing with unusual belongings and tailoring cover accordingly, making them the ideal people to turn to if you want to make sure the contents of your home are fully protected.

An expert will be sent to your home to appraise your possessions, so you can rest assured your policy will reflect the true value of the pieces in question. In addition, specialist insurers often encourage policyholders to have their belongings re-valued on a regular basis, thereby ensuring your cover is always up to date.

Cover for student belongings

If your children are heading off to university, they’ll no doubt be taking plenty of things with them. Student properties can often be targeted by thieves, but many young people don’t even think about taking out cover for their possessions, until it’s too late.

With high-value home insurance, you won’t need to worry, as the protection is extended to your child’s belongings while they are away from home. Of course, having a laptop stolen is never easy to deal with, but at least you can rest assured their studies won’t be interrupted for weeks or months on end while they save up to replace it.

Protect your home office

The majority of standard contents insurance won’t cover home office equipment, forcing you to take out an additional policy to protect important devices like computers, printers, fax machines and photocopiers you use for business in your home.

This can quickly mount up but, if your livelihood relies on you having this equipment available day in, day out, you’ll have little choice. With high net worth insurance, though, you’ll discover these devices are covered as part of the rest of your policy, not only saving you money, but also lots of time and hassle as you won’t need to shop around for separate insurance.

What kind of experience have you had with high-value contents insurance? Are there any other benefits to choosing this level of cover?

Home Insurance

Home insurance can often feel like a big expense for nothing. The money has to be paid each month or year, to pay for the house being rebuilt if it was destroyed and possibly also for the contents as well.

If you have a mortgage then the mortgage company will insist that you pay insurance for them, for example –  Halifax buildings insurance, in case of it being damaged or destroyed so that their investment is protected. If you do not have a mortgage then it is up to you if you have insurance.

It is a big amount of money to pay out and it can be tempting to risk it and not have any insurance. However, it is worth thinking about the possible consequences. Even if you put aside and saved the money that you would have paid out in insurance over the years, it would be very difficult to find the money to replace a destroyed house.

The contents are similar. Unless you are renting a furnished home or do not have many possessions it would be very expensive to replace everything. Imagine everything you have, electronic items, clothes, pictures, furniture, books, dvds, cutlery and crockery. There is so much more than this and it will all have to be replaced and all in one go. That is a huge expense.

It can be a calculated risk, if you decide that you do not have enough valuable stuff and do not want to insure it. Also if you have unvalued unique items such as antiques or paintings, then it may not be worth insuring them. You will never be able to replace them if they get destroyed and so the insurance is pretty pointless.

So always think hard about taking out insurance. It is not just a case of whether you can afford it but rather whether you can afford not to have it.

Why You Should Value Your Contents’ Insurance Cover Carefully

When you’re shopping around for a cheap home insurance quote, it doesn’t take long to get thoroughly fed up of having to answer questions. If you go to more than one website (whether a comparison site or an insurance company’s own site) or phone more than one company then you’ll have to give your name, address, date of birth, occupation, age of the house, how long you’ve lived there, what type of locks and alarms you have etc. etc. etc.

By the time you reach the important questions – the ones that really matter if you ever have to make a claim, the ones about how much cover you need – you have lost patience and make a wild guess at the values involved. Or you just put down whatever the limit was on your last year’s policy and assume that it will be right. But last year, did you give the value of your contents much thought, or did you just look at the limit from the previous year’s policy?

If you think about it, it might have been years since you really considered how much it would cost to replace your contents in the event of a fire, flood or theft, and the value could have dramatically increased (or decreased) in the meantime depending on your circumstances.

This can prove costly in one of two ways. Firstly, you can underestimate the value of your contents (or perhaps forget a key item that has a high value that ought really to be covered separately). This can prove disastrous in the event that you have to make a claim against your home insurance policy: if you’ve underestimated what it would cost you to replace your contents (e.g. in the event of a fire or flood) then you will have to pay for anything not covered out of your own pocket.

Secondly, you could overestimate the value of your contents, in which case your premium will be higher than it needs to be and, in the event that you had to make a claim, the insurer’s assessor would determine that your contents are worth considerably less than you estimated.

Avoid these costly errors by making a short list, room-by-room of all the major contents you own in your house (don’t forget the garden). Roughly work out what it would cost to replace them in the event of fire, theft or flood. Don’t forget things like carpets and curtains. When you’re done, check for any single item that is worth a lot of money, and when you come to renew your home insurance then check the upper limit for a claim for any single item and make sure that you would be covered (or opt for additional single-item cover).

If you have the time and energy, take photos of each room and individual belongings – this will speed up any claim immeasurably and might even help in any police enquiries if you suffer a burglary.