What Does The Typical Home Insurance Policy Cover?

When it comes to shopping for any kind of insurance policy, people all too often place their priorities exclusively on finding the cheapest possible price. While it’s understandable that nobody would want to pay over the odds for their policy, people must understand that cheaper policies often provide less coverage.

Every policy is slightly different. What is standard on one policy will be an extra on others. The limit for what you can claim will also change. This is why it’s really important you make yourself familiar with the individual terms and conditions of any policy you’re considering taking out.

Nevertheless, this is what you can expect from a typical home insurance policy, as well as a look at the extras which might be worth paying for.

Building insurance
Typical building insurance will cover damage to your home, whether interior or exterior, caused by fire, vandalism, heavy wind and other natural disasters. Flooding is a major cause of damage in some areas, and as a result some insurers may not provide it as standard, or may not even cover flood damage at all.

Whether your home needs to be repaired or completely rebuilt, building insurance will cover it, which is why many mortgage lenders insist that you have it.

Contents insurance
Your typical contents insurance will provide cover for theft or damage to your items. This damage could be accidental or caused by fire, water damage, or other things beyond your control. As with any insurance policy, there may be a limit to how much you can claim for, so individual items of exceptional value may need their own dedicated cover.

You can assure any visiting guests that they’ll be safe in your home – some policies will also mean that their belongings covered. Likewise, if an immediate family member is in a care home they too should have their belongings protected. At times such as Christmas, some providers automatically increase your cover to account for the extra gifts, food, and decorations which are present.

insurance

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Extras
Legal expenses – legal disputes with regards to your home can be very costly. Legal cover will ensure that you are able to protect yourself against things such as identity fraud.

Garden cover – While a growing number of home insurance providers are including garden coverage in their policies, for some it is still regarded as an extra. If you don’t have a garden but garden coverage comes as standard, there might be a cheaper deal out there for you.

Away from home cover – Every day you take your wallet, keys, watch, jewellery, mobile phone and other valuable items out of your home. You can take out worldwide coverage so that wherever you are these possessions are protected. This could even help you save money on travel insurance in the future.

Extended accidental damage cover – As previously stated, insurance policies cover accidental damage, but only to a certain extent. If you have children or particularly boisterous pets, it might be worth studying in closer detail what your cover offers and whether the extra accidental damage cover could be worth it.

Home emergencies – This added extra provides help for you 24 hours a day, 365 days a year when something just goes wrong. Whether it’s a broken boiler or lost keys, emergency cover could prove very useful.

Written by Dan Richard, a home insurance professional and experienced blogger

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