Types of Insurance That Homeowners Need

Being a homeowner is exciting, but it can be expensive. There’s no landlord to call when you need something repaired. It’s all on you. That’s why you need to ensure you have the right cover in place to keep costs down when things go wrong. 

Home insurance 

This type of insurance covers the structural aspects of your home. For example, your property is structurally damaged in a fire, flood, or due to subsidence, then you would be covered financially for any repairs to the property. Your heating and air conditioning systems will be covered in the event of damage, but if they experience a fault, you will need to get a reputable HVAC company to repair it. If you’ve previously rented, then you may not realize that you need this as it would have been paid for by your landlord.  

Contents insurance

As the name suggests, contents insurance protects you from loss or damage to the items inside your home. For example, if you are burgled, the policy will cover the replacement of items stolen. 

High-value items will need to be specified when you take out your policy and you’ll need to check whether your policy includes accidental damage and new for old coverage. 

Boiler cover

Most people assume that their home insurance will cover their central heating system too, but this is often not the case. If your boiler and heating system isn’t covered in your home insurance or general appliance cover, then it is well worth taking out a separate policy. 

A boiler cover plan will guarantee that should your central heating system break down, then someone will attend your property within a specified timeframe to fix it. This is invaluable, especially during the colder months. If you have babies, young children or vulnerable adults in your home, then you can register this with your insurance provider and you will be given priority should there be an issue. 

Appliance cover 

Contents cover will usually replace a faulty appliance in your home, but it can often be time-consuming to do this and involves hiring a repair company to come and look at the item first and declare it uneconomical to repair. If you find that your washer, dryer, cooker, or similar has developed a fault, then the appliance cover can guarantee you a repair window for a professional to attend your property. 

Check your level of cover

As with most insurance policies, there are different levels of cover available.  These are often dependent on price, where you will pay a lot more for comprehensive insurance policies. 

When deciding what cover you and your family need, it’s important to look at the small print on any quote that you receive. The price may be good, but if it’s not going to be providing you with the cover you need, then it’s a waste of money. 

Similarly, don’t assume that because you’re paying a higher price, that everything must be included. Different insurers include different things as standard. Check everything thoroughly before you commit. Once you have, you can then have peace of mind, knowing that if you need it, then your insurance will cover you.

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