Home Insurance

Home insurance (also known as property insurance) is an essential part of modern living. Without this protection, you could literally encounter financial ruin in the event of a fire, a theft or if someone happens to become injured on the property. Let us take a look at the basic principles behind home insurance before examining the most common policies as well as their unique features. You will then be able to choose the plan that is the most appropriate as well as the most economically viable for your requirements.

Why Home Insurance?

The basic idea behind any type of home insurance policy is to protect the owner in the event of any unforeseen circumstances. In this manner, the principle is actually very much the same when compared to typical vehicle coverage plan. Of course, there are different types of policies and some are very specific. Let us now take a look at some of the most common policies within the United Kingdom as well as some of their pertinent stipulations.

Buildings Insurance

This is considered to be the standard plan and the majority of mortgage providers will require that this policy is already in place before providing their funds. So, it is often compared to a basic vehicle liability package. This plan protects the physical structure of the home as well as what are considered “permanent” fixtures such as bathroom fittings and the roof.

Contents Insurance

This is another very common plan that the majority of providers will offer. In most cases, buildings insurance is covered as part of the standard package. The main difference is that your physical possessions are also included. Examples here can be electronics, antiques, heirlooms and expensive jewellery. In events such as fires, floods or theft, you will be reimbursed for a portion or the complete value of these items. The levels of protection will vary and these primarily depend upon how much your items are worth. It is therefore often a good idea to have then independently assayed.

Landlord's Insurance

We also need to mention landlord's insurance. If you plan on renting out a flat, you will be legally required to purchase this type of plan. It will protect both you and the tenants in the event of an accident or damage to the physical property itself. This policy will also help to pay for basic upkeep and maintenance needs that will inevitably occur from time to time. Depending upon the location of the structure as well as how many tenets you will have, the prices of this policy will vary accordingly.

High-Value Home Insurance

This policy is often useful if the contents of your home are worth in excess of 500,000 pounds. In other words, a standard policy will normally not be able to provide the required level of financial protection. This can also be relevant if a very expensive car is housed within a garage.

These are the basic types of home insurance within the United Kingdom. Other variants will include (but are not limited to) listed buildings insurance and tenant's insurance. Perform a good amount of research and compare different quotations so that you will be able to encounter the most appropriate package for your requirements. A bit of preparation can go a long way!

Top Ten Companies

As we have seen, home insurance is a critical financial consideration to keep in mind. In the event of a fire, theft of similarly unfortunate circumstances, you can rest assured that your valuables and those of your family are properly valued. The one downside is that there are literally thousands of different insurance providers throughout the United Kingdom. Another issue is that each claims to be the best in the business. Of course, some naturally stand out from the rest. As opposed to you being forced to visit countless websites and having to endure annoying marketing campaigns, we have gone ahead and assembled a list of the top ten companies based upon their online reputation as well as what others have had to say. Let's take a quick look at what we have found.

  • Aviva Home insurance
  • Tesco Bank Home Insurance
  • Direct Line Home Insurance
  • John Lewis Finance Home Insurance
  • Churchill Home Insurance
  • Sainsbury's Bank Home Insurance
  • Saga Home Insurance
  • Instasure Home Insurance
  • Policy Expert Home Insurance
  • AA Home Insurance

Please keep in mind that many of these firms offer seasonal deals and similar rebates. There can also be times when your insurance rates will vary depending upon where you live. So, feel free to take a look at each of these companies in greater detail by visiting their respective websites. Saving money has indeed never been easier.

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