Home insurance guide

Home insurance: general tips

• Compare quotes – prices may vary significantly between insurers, so compare online with uSwitch
• Pay in full upfront if you can - insurers will often charge a high APR for a monthly direct debit
• Always read the small print before buying a policy - if the price seems too good to be true, it probably is
• If you are renewing your policy, make sure you review your application – if anything about your home or its contents has changed you will need to include this in your renewal or your policy could be invalid
• Make sure your application  is accurate  – underestimating could have disastrous consequences

Buildings insurance

• Carefully value the rebuild cost of your home - this not the same as the market value
• If you live in one of the UK’s 500,000 listed buildings you may need to get a specialist home insurance policy
• Decide if you  want cover for alternative accommodation should your home become uninhabitable
• Shop around for your policy - although your mortgage lender will require you to have buildings insurance, you are not obliged to purchase it from them
• Decide if you want contents insurance and buildings insurance from the same provider - this will often save you money
• Be aware of the main risks in your area - if you live in an area liable to flooding for instance, ensure that you are covered for flood damage

Contents insurance

• You will need to choose whether you want accidental damage cover included in your policy
• Identify the items you take outside of your home, such as bikes, laptops and mp3 players – you may be able to get personal possessions cover, or pay extra for their use outside the home
• Go through every room in your home noting down anything of worth that isn’t part of the fixtures and fittings
• Carefully and honestly calculate how much it would cost to replace everything
• Include garden plants and items in your estimate if relevant
• If you are a student, look specifically for student policies which will cover you over the university holidays
• Some insurers put a limit on the cost of individual items - if you have very expensive items you may need to negotiate with your insurer or have them insured separately
• Compare as many quotes as possible to find the right contents insurance policy for you
• Read the small print to avoid any nasty shocks if you have to make a claim

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