What does my home insurance not include?
When you take out a home insurance policy you might assume that it covers your building and everything inside it. However, like holidays, home insurance policies aren’t automatically all-inclusive, you need to make sure you have the correct type of cover for your individual needs.
Here, we explain some of the common things that your home insurance policy might not include and the extra cover you’ll need to consider.
Working from home
In a world of flexible working, more and more people choose to work from home the odd day a week or run a business from home, but did you know that this could affect your home insurance? For example, if you host client meetings from home or hold stock, equipment or money at your property this can affect the validity of your policy. Also, if you employ people at your property you will need to take out separate Employee Liability Insurance.
Home working can be a confusing area, so it’s definitely worth checking with your insurer what is and isn’t covered before you set up working from home.
You’ve worked hard to save for that round-the-world trip of a lifetime – three whole months travelling the globe – so the last thing you want is to return to a burgled, storm damaged or flooded house and realise that you’re not insured.
Most standard insurance policies cover unoccupied properties for a fixed number of days. For example, UIA’s Signature Home Insurance policy will give you 60 days continuous cover. If you plan to be away for longer than the period specified in your policy you will need to inform your provider and, if necessary, take out additional cover.
Subletting your property
If you rent your property and are planning to go away for an extended period of time, you might be tempted to sublet your home to cover the cost of your rent and household bills. If this is the case, as well as ensuring this is ok with your landlord, you need to inform your home contents insurance provider. This is because subletting is classed as a change in circumstances and, if you don’t inform your insurer, your policy could be declared invalid.
High risk valuable items
Most home contents insurance only cover your belongings up to a certain limit, so you might need to take out additional cover or a separate policy for expensive items, such as family heirlooms, works of art, gadgets, antiques and jewellery. In short, the goods that burglars would find most appealing to get their greedy hands on!
For this reason, it’s worth getting expensive items individually valued and checking with your insurer whether or not they’re covered within your existing policy. Also, don’t forget to take pictures of these items and register them (if needed), as this will make it easier to put in a claim with your insurer should the worst happen.
You might think your policy will automatically cover you if you spill paint on your carpets or crack your HD TV screen, but you’re wrong. Accidental damage cover is not always standard on home insurance policies – you might need to take out additional cover for this. Yes, it may add a few more pounds to your premium each month, but isn’t it worth it for peace of mind should you have an accidental mishap? It’s definitely worth finding out from your insurer just what you are covered for.
We always recommend you speak to us if you are in any doubt about your policy or if you have any questions regarding your Home Insurance. You can call our Customer Service Team on 01438 761 776 (8.30am to 6pm Monday to Friday).