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The Christmas holiday period is perhaps the one time of year when everybody makes an effort to spend quality time with family and loved ones.  Christmas dinners are attended by large numbers of guests, gift giving is synonymous with festivities and it is a happy time of year for most of us.  However, it is also a period that is highly profitable for thieves, with unoccupied houses and expensive gifts lying around, providing the perfect opportunity for burglars.

With many people leaving their homes unoccupied, sometimes for days, as they travel to be with friends and family and enjoy celebrations together, it is the perfect time for thieves to keep themselves busy.  In addition, large numbers of presents are often left clearly visible, rather than being tucked away in cupboards, making it easy for thieves to make a quick getaway with their ill-gotten gains.  It is therefore vital that you keep valuables hidden from view and remain vigilant when it comes to home security.

It is also important to ensure that home contents insurance policies are up to date and that the level of cover you have is adequate.  With home insurance quotes often being substantially less than you might expect, there is no reason not to have a policy that will protect all your belongings.  The Christmas season brings friends and families together for fun and celebrations and the last thing you want to be worrying about is whether you should have purchased one of the home insurance quotes you were considering all those weeks ago.

Purchasing an appropriate house insurance product for you home is essential, but if you have a second home, having it is insured is possibly even more important.  Properties such as these are normally used as holiday homes and are therefore often only occupied for short periods of the year.  They are therefore more vulnerable to damage or theft than your main home.  If you do not already have a policy you should make it a priority to obtain a number of home insurance quotes and purchase the one that best meets your requirements.  

Buildings insurance is a particular necessity on second homes, as what starts out as minor damage can quickly become a major problem in vacant properties.  With no ongoing maintenance, any damage, whether it be broken roof slates, smashed windows or creeping damp, can quickly gain momentum without being spotted.  Owners, arriving to enjoy a relaxing holiday are instead faced with having to deal with damage that could cost thousands to rectify.  However, with home insurance that is specifically geared towards second homes, owners can relax in the knowledge that they have immediate access to funds that will be sufficient to cover any eventuality.

Second homes are obviously more vulnerable to break-ins, as local thieves are well aware of which properties are vacant at any particular time, making it easy for them to make off with TVs, DVD players, cameras and the like.  Most owners will not have a great number of valuables in their second home and the theft of these items could remain undiscovered for a significant period of time.  This could well lead to a degree of emotional turmoil when the owner does pay the house a visit and becomes aware of what is missing.

For anyone with a second home, it is well worthwhile purchasing a household insurance policy designed specifically for holiday homes.  They will then have complete peace of mind, knowing that, should the property be damaged or broken into, at least they will not have any unexpected bills to pay at a time when they are supposed to be enjoying a well earned break.

Most home insurance providers offer standard buildings insurance cover and additional buildings insurance cover.  Most people opt for standard buildings insurance as they do not want to spend more money on home insurance than is absolutely necessary.

Unfortunately a lot of individuals do not realise just how much is not covered by standard buildings insurance policies, as they do not take time to read the small print. To avoid any unwelcome surprises when submitting a claim, make sure you are aware of the following facts.

Burglary and theft is a good example.  While standard buildings insurance policies will pay out for damage to buildings as a result of theft or attempted theft, this will only happen if the building was occupied and the damage was not caused by you, your family or anyone you invited into your home.

Then there is the issue of pets.  Any damage to your building caused by your pets, however unintentional, will not be paid for under most standard insurance policies.

Another example concerns falling trees.  If a falling tree damages your building, the policy will pay out.  However if the tree does not damage the building, you still have to pay for its removal yourself, even if you have to pay for professional equipment and services.

These are just three facts about the majority of standard building insurance policies.  They show that it is worth seriously considering additional building insurance cover.

Your home is probably the most expensive investment you’ll ever make and it is important to protect it against all manner of unforeseen events.

Home buildings insurance is not optional if you have a mortgage, as the lender will have made it a condition of the loan. This is security for them against the loan itself in case the property suffers some catastrophe such as subsidence, flood or fire. However, it also protects you, because if you had no buildings insurance in place and your house was destroyed you’d be left severely out of pocket or even bankrupt. Nobody likes paying premiums every month just in case something happens, but in this case it is extremely sensible. Buildings insurance may also cover the garden, treating it as a separate room and fixed items such as fitted kitchens and bathrooms, but you’d need to check with your insurer.

Home contents insurance, the other element of home insurance, is optional, but strongly recommended. If you are a leaseholder, your landlord or freeholder may already have this in place, but in most cases you’ll have to take it out yourself.

House contents insurance policies generally take the form of new-for-old arrangements, whereby if an item is lost or damaged it will be replaced by a brand new item of the same kind. Some people opt for the cheapest form of home contents insurance, indemnity, which sees lost or damaged possessions replaced with similar ones of the same age, which is not as good, although still better than nothing at all.

None of us imagines that we’ll be burgled, until it actually happens and this is equally the case with subsidence, flooding and all the other ills that property is prone to. Although taking out contents and buildings insurance can undoubtedly be an irritation, if not a downright pain, it’s as well to have them both in place.

Buildings insurance may already have been arranged by the landlord if you own an apartment in a block of flats, for example, but normally when you take out a freehold mortgage you’ll be required, by the mortgage company, to take out a buildings insurance policy. This will cover the cost of rebuilding the house in the event of an unexpected disaster, because unexpected disasters do happen.

The buildings policy will probably cover fixed items such as fitted kitchens and garden sheds, but you must check for yourself by reading the policy.

A contents insurance policy covers movable possessions in the property and often some of them outside, though separate travel insurance arrangements will usually need to be made if you take things away on holiday with you.

Once you’ve found a suitable buildings or contents insurer you can drive the premiums down by reducing the level of cover, increasing your excess or taking them both out from the same insurer, which usually results in a discount.

Shop around for the buildings insurance and contents insurance policies that are right for you and take out the correct level of cover for the value of property and possessions you own; don’t pay for insurance you don’t need. This is the only way to save money, whilst being fully covered.

Whether you’re crazy about insurance or not, it’s a fact of life and when you think about it protecting your home and its contents against theft, damage, flooding, subsidence and other misadventures is sensible; remember, not doing so could completely ruin you. Imagine taking out a loan on a house only to see it slide into a river a few weeks later and not having it insured. You’d be up to the hilt in debt to the lender and probably facing financial ruin. This is why house insurance and more importantly buildings insurance, at least, is a prerequisite of taking out a mortgage, as many might otherwise be tempted to skip it and both lender and homeowner would lose out spectacularly. The only exception to taking out buildings insurance with a mortgage would be if you were a leaseholder whose landlord had already taken care of it, say for a block of flats.

Although you are not required to take out contents insurance, the lender couldn’t care less about your personal effects, so it would be unwise not to have cover in place. Thieves don’t leave a calling card and it would probably be the last you ever saw of that family heirloom or HDTV, Xbox or top-of-the-range home-theatre equipment. A ‘new-for-old’ contents policy will at least replace the gadgetry with the latest models, although the heirloom will probably, if you’re sensible, have been separately insured. This is normally the case with individual items above £1,000 or so.

Check the policy carefully before taking it out, to see what exactly is covered.

House insurance consists of buildings insurance, which you must have in place and contents insurance, which is optional, but recommended. Buildings insurance protects your building’s structure against fire, flood and other damage and the amount that it will pay depends on the cost of repairing the damage or rebuilding your property. For this reason if you have added any extensions or converted the loft you must inform the insurer so that the level insurance can be adjusted. Buildings insurance often also covers fixed items such as baths and fitted kitchens, as well as garden sheds and garages.
 
Contents insurance covers the replacement of movable contents in the house, such as furniture, jewellery and appliances. Some of these may also be covered when you take them outside the home, although separate travel insurance might have to be arranged should you take them on holiday with you. Indemnity contents insurance is the cheapest form, with an item of the same age replacing the lost or damaged one. If you are prepared to pay extra, ‘new for old’ insurance will provide for replacement with brand new items.

To compare home insurance costs, it’s a good idea to visit an insurance cost comparison website. Bear in mind that the cost of premiums can vary considerably between insurers and that if you combine contents insurance with buildings insurance you can reduce the cost. Accepting a higher excess will also drive the premiums down. The excess is the amount you yourself pay as a part of any claim made on the policy.

If you’re planning to take out house insurance, you may want to also consider additional coverage for the valuables within your home. While not mandatory, considering the fact that one in three British citizens fall victim to burglary, it is certainly worth consideration.

House contents insurance provides cover for anything that is not a fixed part of your home. This includes things like your furniture, clothing, any appliances you might have, home electronics, and sometimes even the contents of your cupboards and fridge freezer.

House contents insurance can also insure items you frequently take out of your home, such as bicycles, sports equipment, mobile phones and jewellery, prams – even the contents of your handbag.

The cheapest type of house contents insurance is indemnity insurance. This type of insurance pays for or replaces lost, stolen, or damaged items with consideration for age and depreciation. For instance, if your five-year-old carpet is ruined, your insurance will pay you its value or replace it with another of the same age. More expensive house contents insurance will provide ‘new for old’ replacements. Under this type of policy, your carpet would be replaced with a brand new one of comparable new value.

Most house insurance has a limit to the amount it will cover and often highly-valuable things like expensive jewellery and art work are excluded and need to be covered by a separate premium contents insurance policy.

People who should have house contents insurance include home/flat owners and tenants, while landlords’ needs vary based upon situation.

Using the Internet is a quick, efficient way to receive several quotes regarding home insurance or contents insurance—or even both at once.  It’s also a wonderful way for you to compare home insurance policies side-by-side to see which suits your needs best.

Start by requesting an online quote from a company that you or a friend have used and recommended.  Often this might be a smaller, local company, but one with an office in your neighbourhood.  Be sure to write down the cover you’re requesting so you can match that on later requests with other companies.  All your cover requests should be the same so you can compare the prices side-by-side.

Now request quotes from two or three larger, national companies.  Again, go back to the list you made of coverage requests and make sure it all matches.  Once you have the quotes, do an internet search with the name of the company and “claims” or “service” in the search terms.  Read reviews of the company’s service that you find available, but keep in mind that people are much more likely to post a review when they’re unhappy than when their service has been fine.  When was the last time you posted something to say that your service was good or so-so?

Now do one more search, this time for the name of your town and “home insurance” or “house insurance”.  See if you identify any companies via this search that you weren’t aware of.  If you do, request a home insurance quote from these companies and also check out their reviews from customers.

Now you should have enough information to make an informed decision about a company that provides the kind of insurance you want and also serves the area in which you live. 

Landlords

While anyone who is a landlord (i.e., lets or sub-lets a house or flat) is required to have homeowner’s insurance, the type of home contents insurance varies by degrees, based upon how the property is furnished. There are also additional options which anyone who is or is planning to become a landlord should review:

•    Emergency Assistance Coverage – This covers the cost of contractor call-out and works done costs to a set maximum limit. This coverage is for emergency situations only and does not include coverage for situations arising due to lack of routine maintenance on the landlord’s part.
•    Rent Guarantee – Rent guarantee coverage pays the rent when you are having issues with your tenant, i.e., during vacant possession proceedings when the tenant is refusing to pay and up to three months after while you are looking for a new tenant.
•    Legal Coverage – Insurance to cover legal expenses when dealing with tenant issues such as non-payment of rent, failure to vacate a property, unauthorised inhabitants, etc.

Tenants

For people who are leasing a property, there is simply no need to take out full homeowner’s insurance; however, it is strongly advisable that they do take out house contents insurance to cover the cost of their personal items and any appliances, etc. that they’ve brought with them/purchased themselves. The types and levels of coverage provided by house contents insurance varies, and it is always a good idea for tenants to do a bit of comparison shopping before settling on a policy.