Frequently asked questions
No, there's no legal requirement to have home insurance. However, companies that have an interest in your home, such as your mortgage lender, may insist that you have home insurance to protect the property itself.
There's no one company that can be named as the 'best'. All companies have positives and downsides and provide different types of plans that are more suitable for people with different circumstances.
If you don't have home insurance, you could find yourself massively out of pocket if something happens to your home. There are not many people who could afford to replace all items of value or pay for structural repairs to their home following a disaster. Having an active home insurance policy means you're financially protected from natural disasters, fires and being a victim of crime.
The answer to this is without a doubt yes. Even if you could afford to replace or rebuild your home, you can avoid massive expenditures by having a valid insurance policy.
You should always shop around for insurance, just like you would any other serious purchase. By examining multiple providers and the plans they offer, you can increase the likelihood that you'll get a deal that's right for you. The easiest way for you to do this is via a comparison website, but if you already have a few providers in mind, you may just wish to contact them directly.
It's important for home insurance companies to have as much detail about you, your home and possessions as possible as this helps them to give you the most accurate quote. Another thing that insurers will consider is if you've made claims in the past. Previous claims are likely to increase the cost of your premium as insurers will view you as more of a risk.
No, you decide what you want to cover. If there are things that you don't want to include on your plan because of the impact their value will have on your policy, you don't have to. If something is of particularly high value, you may be required to list them as a scheduled item, which is something that's more valuable than the claim limit of your insurance policy.
There are three kinds of policies that providers offer. The first, property insurance, covers damage to your home, garage and other structures. Then there's contents insurance, which covers your possessions, such as your TV and computer. Finally, some providers offer policies that cover both the building and the contents.
No, unless it's been laid out in your contract. By forcing you to get your policy through them, your mortgage provider doesn't really need to price your policy competitively.
Only the owner of a property can buy building insurance, as such, it's the responsibility of your landlord. However, contents insurance is still your responsibility.
Following a large claim, such as a burglary or flood, your plan provider will appoint an adjuster to assess the exact extent of the damage. Communication is key when dealing with adjusters, and you should cooperate fully to ensure that your claim is dealt with efficiently.