Home Insurance

For most people, home insurance is not the first choice for a spot of bedtime reading and the vast majority when starting out in their own property know little or nothing about the subject.

There are two main types of insurance which cover property - buildings and contents insurance.

Buildings insurance is often compulsory for home-owners taking out a mortgage on their house whereas tenants may not be required to pay for this under the terms of the lease.

Buildings insurance covers the actual structure of the property and any damage which may occur from fire, floods or accidents. The price and availability of buildings insurance will very much depend on the land upon which the property lies as well as the structure of the house itself.

An insurer will want to know various key facts about the property before quoting a price for cover, including the material from which the house is built, how old it is and more basic facts such as how many rooms and outbuildings there are.

It is very easy to obtain insurance online and this can make it much more convenient to compare prices. However, insurers will often make some basic assumptions when providing a quote and it is essential therefore to check the small print. Failing to do this could mean that any claim may not be paid.

As an example, some insurers will not provide cover if flood waters have come within a certain distance of the property in the last few years. The questionnaire that an applicant completes may ask whether the property has ever flooded but may not specifically point out that even if a flood did not occur, the property may lie within an exclusion zone.

Extras that can be incorporated into a policy include overnight accommodation in local hotels if the property is uninhabitable or damage caused by an act of god.

Contents insurance covers the possessions inside the house and is recommended for everyone, tenants and homeowners alike. It can be surprising how quickly the value of simple possessions add up - if there was a devastating fire, would you have the thousands of pounds needed to replace clothes, CDs and furniture?

Home contents policies vary very significantly and some policies exclude possessions kept within the garden whereas others include cover for personal items, even when away from the home - such as bicycles.

Most insurers have a limit for any unspecified items, with the maximum payout around £1000 per damaged possession. It is possible to insure a valuable item for more than this but the insurer will need to agree to provide the cover in advance and may require photographic or other evidence.

Some policies will only cover damage which occurs due to fire, flood or water and do not include accidental damage as standard. However, it is usually possible to add it onto the policy if it is not part of the basic terms.

It is also essential to be completely honest about the inhabitants of the house - including cover for pets may be slightly more expensive but will ensure that any claim will be paid without quibble.

The process for making a claim varies between insurers but will also depend on the total value of the damage.

For extensive damage the insurer will want to send their own loss adjustor out to assess the property and ensure that any claims submitted as reasonable and commensurate with the damage observed. For smaller claims, the insurer may be willing to pay out the insured value just based upon completion of a claim form and a telephone interview.

Once the claim has been agreed, there are different ways to get the matter settled. Some insurers have their own contractors and arrange for the work to be carried out via this firm. They often also have deals with retailers and hand out vouchers to customers who need to replace personal items, rather than writing a cheque.

Other insurers do not retain their own experts and in the event of a claim being agreed, simply agree to pay out the amount directly to the insured to arrange the repairs.

Insurance quotes can vary significantly but it is important to ensure that each premium is for the same type of cover and offers identical add-on benefits, where applicable. One of the easiest ways to look at the different prices and policies available in the market is to use a comparison website such as moneysupermarket.com which not only searches out the cheapest premiums, it also lists the key features.

Quotezone

Quotezone's Home Insurance system compares quotes from lots of different insurers for buildings, contents and combined buildings and content insurance. They visit lots of insurers websites and return the quotes to you in real time! So, just by filling in one quote form,you can get up to 20 quotes in less than 2 minutes!

Click here for full details and to apply online

Insurepink

Insurepink donate £10 to the Pink Ribbon Foundation for every home insurance policy sold and provides additional insurance discounts to female drivers. Each product is available with a 10% online discount and has loads of great features!

Click here for full details and to apply online

Other Insurers

Cornhill Direct are now offering all consumers up to 65% no claims discount on home insurance, buy online and save up to 18%
Endsleigh - Whether you are living in rented or shared accommodation, buying your first home or just looking for the most competitive price Endsleigh can offer some of the most appropriate and low cost home insurance deals to suit you and your lifestyle. Try Endsleigh to see how much you could save on your home insurance.
Insure - At insure we take pride in offering you straightforward and competitive home and contents insurance. Our online system will provide you with a quote in a matter of minutes and you can buy online safe in the knowledge that our website users the most up to date encryption technology.
Insure & Go home insurance can cover you for buildings, contents and your personal possessions. Their products are placed with a range of top insurers, and they offer a wide range of cover and pricing options, and special schemes for many locations and occupations.
More Th>n Home insurance - A whopping £60,000 worth of contents cover at great value prices with MORE TH>N. Enjoy a 24 hour helpline and an award winning claims service. Apply online and get a £15 discount.
NHI Services Ltd Home Insurance - With homeprotect, customers save an average of £90 on their home insurance compared to their previous home insurance provider (based on a survey of homeprotect customers in 2005). You can also get a quote in just a few minutes.
Quoteline Direct - The cheapest quote and best cover from a selection of the UK's leading home insurers immediately on-line! Buildings and Contents. Bank and Building Society approved policies. Previous claims or problem properties no problem. Monthly direct debit. First time buyers. Let Properties etc.
Tesco Home Insurance - New customers get HALF PRICE Contents cover when Combined Buildings and Contents cover is purchased before 6th January 2010
The AA - Great discounts when you buy AA home insurance online