Small World Money Transfer
Small World Financial Services - Finanzas
Small World Money Transfer
Small World Financial Services - Finanzas
Up

What is the Best Insurance for My Home?

There are many home insurance companies in the UK offering different plans to suit each and every client’s individual needs and budget. In the UK, three main types of home insurance policies are offered. These include buildings, contents and buildings and contents together. Those who are living in a rented apartment don’t need to get into the details of buildings insurance. The landlord will handle that part because they are the owner of the building not you. But when it comes to contents insurance, here you should feel concerned because it is your furniture and belongings and not the landlord’s. 

Getting the right level of cover is important in order to get yourself covered in addition to your home and contents. You can check out various features in addition to the cost to decide which home insurance is best suited to your needs. Valuate your possessions so that you can set an amount close to this value as the level of the cover. Some insurance companies put a limit to the value of a single item you need to insure. They consider all items separately and anything whose value exceeds £2,000 is considered a valuable.   

It has been found that the best home insurance is the one that also offers an alternative residence or accommodation if the house needs to be rebuilt or renovated. In the UK, two insurance companies namely Direct Line and John Lewis Finance offer this type of cover. Another feature that you might find useful is home emergency policy. According to this policy, you will be able to get professional help for free if there are urgent problems in your home that need fixing. Don’t underestimate the value of your possessions and always try to get a cover that is higher than the value of your belongings. You can even add up small items in order to determine the net worth of all your contents.          

There are companies that offer unlimited cover for contents but put a limit to the cost of valuables. Usually it is up to £50,000 for all valuables combined. You can add any type of item in the cover including your mobile phone, precious jewellery, television, furniture and so on. Some companies will offer special offers like cashback and discounts that you might find attractive. Home insurance is not expensive and it is something you should consider especially if you own a house in the UK. 

The average cost for buildings and contents together has been calculated to be somewhere around £300 per year. But it also depends on the size of your home and the features or plan you choose in your home insurance policy. There are comparison websites out there that help you compare various plans so that you can choose the best one according to your needs. The cost it takes to rebuild a house should be the level of your cover and it might be different than the market value of your home. It is therefore a good idea to check the rebuild cost using an online calculator and then choose a home insurance policy.