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Go Compare Insurance

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Go Compare compare a wide range of insurance products to find you the best possible insurance quote. Click Here for more information on Go Compare.

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Go Compare Home Insurance

• Go Compare Home Insurance
• Go Compare Home Insurance for Landlords
• Go Compare Home Insurance for Tenants
• Go Compare Home Insurance Buyer’s Guide

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What is home insurance?

It is more than likely that your home is your most valuable asset. Home insurance is your way of protecting this asset. Home insurance can be broken down into two parts, buildings insurance and contents insurance. Both offer protection for loss or damage, which can occur in the form of theft, fire or damage.

How do home insurance policies differ?

Each home insurance policy is different. The combination of contents insurance and buildings insurance result in a wide variety of benefits and features which mean selecting home insurance isn’t straight forward. It’s important to ensure you choose the right home insurance policy for you. This is where Go Compare helps.

Whilst the absolute details of each home insurance policy is different, the fundamental values behind each policy remain the same, namely ‘new for old’ policies for home contents insurance, which are also known as ‘replacement as new’ cover. These home insurance policies cover the cost of replacing lost, damaged or stolen items.

Another type of home insurance policy is an ‘indemnity’ policy, which is also known as a ‘wear and tear’ policy. This type of home insurance policy pay to replace or repair your items, but with a reduction for depreciation or ‘wear and tear’.

To find the right home insurance policy for you, its essential that you compare home insurance policies from many insurance companies. Go Compare Home Insurance can do this for you, quickly and easily.

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Buildings Insurance

Buildings insurance covers against problems with the structure of the building, in this case, your home. Buildings insurance can also be extendeded to cover things such as fitted kitchens & bathrooms. In some home insurance policies, builings insurance can also include outbuildings such as greenhouses, sheds, garages and accidental damage to underground pipes and cables, glass in doors and windows. However, it is vital to check exactly what is and what isn’t covered and what restrictions apply.

One thing to note is that is may be a condition of your mortgage to have adequate buildings insurance. However, this does not necessarily have to be the policy they recommend.

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Contents Insurance

Contents insurance covers your personal possessions. To put it another way, it covers the things you’d take with you if you moved home. As anyone who has moved recently will tell you, it’s surprising how muchstuff we accumulate. It’s also surprising just how valuable all that stuff can be, so it’s adviseable to add it all up once in a while and refresh the oveall contents cover.

A contents claim against your home insurance can be caused by several factors. These include a burglary or fire and perhaps accidental damage if it’s included in your home insurance policy - something else to check when selecting your contents policy.

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Sum Insured

The sum insured is the total amount your home insurance policy covers. It is the maximum amount your home insurance company will pay should you make a claim. It is therefore vital that you check that this amount is adequate for your needs. If in doubt, check again. It is also adviseable to check this amount every 9 to 12 months, don’t just wait for your home insurance renewal to come round. For those of you more organised, it’s worth keeping a note of all the big items you’ve bought such as digital cameras, televisions, new suits etc. That way, all you need to do is add the new total to the previous total.

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Home Insurance Security

Home insurance quotes will be more expensive in areas that are more likely to make a claim. Home theft is a large part of overall home insurance claims. Nobody wants to go through the ordeal of a burglary. It is highly adviseable for each and every one of us to adhere to some basic home security such as:

• Fit an industry recognised professional burglar alarm system.
• Join an approved Neighbourhood Watch Scheme. If there isn’t one, consider starting one.
• Fit approved security locks on all windows and doors.

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Insurance Premium Excess

An insurance excess is the amount you agree to pay towards any claim. An excess can be compulsory or voluntary. Compulsory excess is generally set by the insurance company. It is pre-determined by them and is usually higher in higher risk areas, city centres for example. Voluntary excess is just that, voluntary. It is set by you in order to reduce your overall insurance quote. Each insurance company is different but limits can vary from an additional £50 to perhaps £1000.

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Does home insurance cover my possessions outside of my home?

It depends. Yet another thing to check when you choose your home insurance policy. The answer is yes if your insurance company provide for it and if you select it. It may add to the overall cost of your insurance premium though. However, consider the items you frequentl take out of your home and ask yourself if you can afford to replace them. Common items requiring this additional cover could be a camera, a laptop, a bicycle.you take away from the home.

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