Brignall Archer

We all hope never to suffer the misery of a house fire, flooding or burglary.  However, should the worst happen, buildings and home insurance will lessen the stress of such an event.

Another way of reducing stress at such a time is to have a complete inventory of the possessions in your home.  Insurers will ask you what has been taken or damaged.  Why rely on memory, when you can easily refer to your inventory?  If your home has fire or flood damage, it can be difficult to recall how things were before.  Even after burglaries, there will be times months after the event when you go to use a certain item and find it gone.

The best advice from home insurance providers such as Policy Expert is to compile an inventory of your belongings in a calm and methodical way and to store copies of it in various places away from the home, such as with relatives, in a bank deposit box, or online.

Photographic inventories are also useful.  Walk through every room in your home and photograph the contents.  Don’t forget items concealed behind cupboard doors and remember to list belongings in your loft, shed and the cupboard under the stairs.  It is surprising how many things get overlooked.  Essential items like laundry, bedding, cutlery and crockery are often forgotten.  However, if you have to replace them all in one go, it can be expensive.

Hopefully, you will never need to refer to a household inventory in making a claim, but, if the worst happens, it will be one less thing to worry about.

Buying cheap home insurance can be a complicated affair.  There are many things to take into account to ensure you are properly covered.  With so many insurance deals out there, here is a basic guide to what you should expect from your policy.

For many homeowners, the minimum cover required by mortgage lenders comes in the form of buildings insurance.  These policies are aimed to give you protection from unexpected damage to your property, in cases where the cause of the damage is entirely out of your hands.  When buying buildings insurance, it is best to find a policy that will help pay for the damage resulting from freak events such as flooding, storm damage (including lightning), subsidence, vandalism or other malicious damage, damage to interior decorations, and damage resulting from vehicles or aircraft.  This should apply to all fixtures within your property boundaries, though outhouses, garages, and greenhouses may be extra.

If you are also looking to insure your personal belongings inside your house, such as furniture and appliances then you need to buy contents insurance.  It is reasonable to expect a contents insurance package to cover the cost of broken windows, having new locks installed, office/work equipment stored in the house, the contents of your freezer, and losses on stolen credit cards.

The amounts paid for such damages vary depending on the insurance company and premium and it is always important to be clear about what is and is not covered in your home.

Suing and compensation seem to have become synonymous with the way of life in our current society. Claims for negligence against property owners by tenants have caused many landlords to review and adjust their thoughts on landlord insurance. With liability becoming an increasing cause for concern, it seems that this is wise action to take.

In an ideal world we would not have to worry about whether or not a person is taking the necessary precautions to prevent any harm coming their way while occupying rented property. Another problem that arises from rentals is that unforeseen structural degradation can cause tenants or others to suffer serious accidents. It is these freak accidents that can cause more damage to your pocket than anything else that your tenants might do to your property.

While you might not always be able to prevent accidents happening at your property, it is important that you are covered for this possibility so that you are not left in financial ruin if you are unable to prove negligence on your tenant’s part. Preventing your investment from becoming a heavy financial loss should always be one of your aims when thinking about acquiring landlord insurance.

Finding the right type of landlord insurance policy that covers you from the possible ruin of a liability claim is a very good idea. As you will not be residing in the property yourself and do not know all that could befall those who are, then prevention of financial loss through responsible action makes more sense.

Something many consumers never think about is flood insurance.  Most home insurance policies do not include flood damage as part of the original policy.  Floods can occur even if you don’t think you live in a low lying area.  Flood coverage should be considered when you buy home insurance.  Many home insurance quotes include the option of including flood coverage.

Vicinity to Water

If you live in any low lying area near streams, rivers, lakes or any other body of water, flooding is a real possibility.  Heavy rains cause flash flooding, which can damage basements and the first floor of your home.  If you are new to the area, talk to neighbours about flooding and whether they have ever experienced flooding in their own homes.

Keep in mind that if you live near streams or rivers, flooding can be caused by heavy rains in other areas.  If you live downstream from areas that regularly receive large amounts of rain, flooding is still very possible in your area.

What Does Flood Insurance Include?

Flood insurance provides full coverage for water and structural damage due to flooding.  From replacing flooring to replacing your entire home, flood insurance is essentially home insurance, but it only covers flood damage.  Include flood insurance as part of your home insurance policy if you live in any flood prone areas.  Even if you live in a blackout area, where most carriers refuse to provide flood coverage, check with other insurers.  You can get flood coverage as a separate insurance policy.

There are a number of specially designed insurance products for property owners who are landlords.  Below are listed the three main landlord insurance products.

Buildings Insurance

When buying buildings insurance, ensure that the policy covers the re-building cost and not the market value of the property.  This is because sometimes the re-building value will be much higher than the building’s market value, particularly in the currently depressed economy.  The main dangers which your buildings insurance must cover are fire, explosion, lightening, storms or floods, malicious damage, oil or gas leaks and theft.

Contents Insurance

In the UK most rented properties are either partially or fully furnished.  Therefore a contents insurance policy which includes landlord’s liability cover is useful.  A contents policy typically includes carpets, curtains, light fittings and any appliances.  The landlord’s liability element provides protection for the landlord in case a tenant files a claim for an injury caused by the contents of the house, such as faulty light fittings or a loose carpet.

Emergency Cover

This is very useful if you are living away from your rented property.  Either the landlord or the tenant can call a 24-hour helpline and get emergency assistance for electricity failure, loss of house keys, plumbing, leaking from the roof or gutters and broken doors or windows.  The policy will provide replacement parts and labour up to the prearranged amount.

It should be noted that some insurance companies will not provide one or all of these types of coverage if you have tenants who are students, multiple individuals sharing the rent or those who get state benefits, as all of them fall into the High Risk Tenant category.

Unlike most other countries in the EU, the United Kingdom is one of the few that does not mandate that flood insurance cover is included in all home insurance policies.  This problem has come to the fore in recent years with several incidents of catastrophic flooding, and the problem with insurance cover for floods is due to get worse.

The government’s spending review will have an impact on many aspects of our lives, and one of those is flood defences.  The government spends a substantial amount of money on defending towns and cities against flood waters, a fact acknowledged by insurers who are more likely to be willing to insure homes if there is substantial flood protection in the area.

However, with the government likely to spend less on flood defences insurers may now reconsider whether they can offer flood insurance in all the areas they currently do.  In fact it may happen that some home owners will be entirely unable to get cover against flood damage if insurers determine that it is not worth taking the risk to insure certain properties against flooding.

For now the best home owners can do is to remain attentive when it comes to the fine print of their insurance policies.  Insurers need to notify their customers if there will be a change in the home insurance coverage of a particular policy, but these notifications often go unread.  It is crucial that those living in flood-prone areas check the status of flood protection under a policy whether they are taking out a new home insurance policy, already have a policy or plan on renewing their policy.

With seemingly thousands of options to choose from, it may seem difficult to compare home insurance providers and coverage.  There are a few ways to make this process quicker and easier.  In many cases, you will even find discounts you didn’t know existed.  Comparing providers should be the first thing you do before buying home insurance.

Know What you Need

Before you start to compare home insurance, know what coverage you need.  This makes answering questions when receiving a quote much easier.  It is also a good idea to get an estimate of your home’s value.  If you want your belongings covered as well, get an estimate on those also.  This will help you determine the amount of coverage necessary.

Clear Details

When you look for home insurance, you want a policy that is easy to understand.  An insurer that provides clear details about their coverage is much better than one who tries to make everything as vague as possible.  Look for a clear policy and a company that will answer your questions before you buy.  If you are shopping online, look for a description of each policy type, including what is and isn’t covered.

Custom Coverage

Some home insurance providers only offer set plans.  Though this may be a good fit for some, it may not be best for you.  Compare home insurance providers to see who offers custom coverage.  This lets you combine the type or types of coverage you need that will fit your budget.

Landlord insurance will provide you with everything you need to avoid any complications when renting out your property.  With landlord insurance, you can ensure that your personal items will remain covered whilst your property is being rented.  If you are planning to rent out your property fully furnished, then it is vital that you have landlord insurance should any theft or damage occur.

When renting out your property, there is an increased risk of problems with tenants occurring, especially if you have not carried out regular checks to ensure that your property is safe.  Personal injuries sustained by tenants renting out your property may result in legal action being taken.  Therefore, it is vital that you have a landlord insurance policy that provides public liability cover.

Landlord insurance will also help you with any loss of rent that may occur as a result of your property being repaired or loss of income due to legal action being taken by a tenant.  Coverage is also provided for damage to items caused by floods or fire, though this may depend on what landlord insurance policy you choose.

Finding a policy that suits your requirements will enable you to obtain the most out of landlord insurance.  Ensuring that you are fully covered will reduce the risk of problems when it comes to renting out your property.  It is vital that you seek a policy that meets your requirements.  For example, if you live an area that is susceptible to floods, then you will need to make sure that you choose a policy that will provide the coverage you need to keep your home protected whilst renting it out.

If you need to move house, you’ll have many things to plan for: leaving the old home, purchasing and moving into the new one, having your contents moved, and making the transition to a new neighbourhood, and possibly schools and jobs, as well.  You may not consider your home insurance in the hustle and bustle of the move, but it is something you should think about.

Many insurers will offer to transfer your current home insurance policy to your new residence.  This is very convenient, and can often provide a benefit to you because most insurers will then cover the value of your contents whilst they are in transit between your homes.  Be sure to ask about this coverage if you’re considering remaining with your current insurer.  This alone can be a very large benefit, both in terms of money and stress.

Your new home will almost certainly require a different policy price than your old home.  Location, crime rates in the old location and new location, value of contents and whether or not an alarm system is available are just some of the many factors that will affect your home insurance rates.

It’s preferable that you get a quote on the new home’s insurance cover before moving, and ask about any discounts that have been applied or can be applied.  For example, your insurer may not be aware that you have or will be installing a home security system, and you’ll want to make sure you receive credit for that.

Stay in contact with your insurer and your move will go smoothly!

Home insurance is one of the more sensible types of standard insurance, protecting your home and its contents against both natural disasters and manmade ones.

Home insurance quotes can be obtained from an insurance broker, but if you have an internet connection and a PC, you can very quickly and easily obtain your own by going to price comparison websites.  These websites will search through hundreds of deals on offer and come back with a list of the ones that seem most applicable to you, based on the information that you have supplied.

Obtaining a condensed list of home insurance quotes from the internet enables you to very quickly narrow the choice down to a handful and then contact each provider yourself to discuss what they have and tailor a policy to suit your specific needs.

With contents insurance, the standard policy may not cover exceptionally valuable items in the home and you will have to take out separate insurance policies to cover these.  Equally, items that you take away on your travels will have to be covered by a travel insurance policy, also taken out separately.

Buildings insurance is normally taken out with the same provider as contents insurance as it will work out cheaper this way and will also reduce your paperwork.  Buildings insurance is mandatory if you have a mortgage, but if you live in rented property, it will usually be the landlord’s responsibility.