Home insurance is designed to cover the cost of unexpected damage or theft to your property and belongings. There are two main types of home insurance; Finding home insurance, knowing which one you need and the best provider can be difficult. In this article, we explain what home insurance is, what it covers, and which insurance companies are the best. We will also show you how best to take out home contents insurance and how you can save money on your home contents insurance. We recommend reading the entire article, but you can jump to specific sections of the article using the links below:
What is home insurance?
home insurancecovers the cost of repairing or replacing damage to the structure of your home or items within your property. Homes insurance is specifically designed to cover the cost of structural damage and damage to your home's furnishings and fittings. Household contents insurance protects your belongings inside, for example telephone, carpet and sofa. Home insurance usually covers damage to your property or property as a result of fire, flood, storm and vandalism, and you're also likely to be covered if your property is stolen. Exactly what you are and are not varies from provider to provider, so you need to make sure you read your policy documents carefully.
For a detailed explanation of the differences between home insurance, see our article “What types of household insurance are there?'
Do I need home contents insurance?
If you are a homeowner, home insurance should be an essential consideration as it covers financial losses resulting from damage to your property or property. In most cases, home insurance is likely to be a condition of your mortgage with your mortgage lender, and you may need to show that your home is insured before the sale goes through. If you are renting a property you may not need to buy buildings insurance as this is usually covered by the landlord. However, home insurance should be considered as it protects your personal belongings at home. For more information on whether you need homeowners insurance based on your personal situation, see our article “Do I need home contents insurance?'
How much home insurance do I need?
How much home insurance do you needvaries depending on the size of your property and what you insure. There are a number of online calculators that you can use to work out how much you need to insure. However, remember that with homeowners insurance, you are insuring the rebuilding value of your home, not the value of your property. Also, make sure you are not duplicating coverage with existing insurance policies.
What is the best home insurance?
In the table below we compare some of the best home insurance on the market; However, as with all insurance products, it is recommended that you do your own research to find the best policy for your circumstances as this is likely to vary from consumer to consumer. A comparison website is an easy way to compare providers as you can compare multiple providers at the same time.
We have teamed upOffer zone*This allows you to search and compare great deals from over 40 UK home insurance providers. However, not all providers are featured on comparison sites and you may not get the best deal.
The listings in the table below are based on a 3 bed property in the South East of England. The amount you actually pay for your home insurance depends on where you live, the type of property you live in, and the policy deductible.
The best home insurance companies
| Admiral | direct line | John Lewis | LV= | National | |
| insurance name | platinum | Homeowners Insurance Plus | Gold | CasaPlus | buildings and content |
| building coverage | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| content coverage | Up to £150,000 | Up to £100,000 | Unlimited | Up to £150,000 | Choose from options under £50,000 or over £50,000 |
| Alternate accommodation | Up to £100,000 | Up to £80,000 | Unlimited | Up to £100,000 | Up to £50,000 |
| Domestic Emergency Coverage |  | | optional extension | optional extension | optional extension |
| Accidental Damage Coverage | | | optional extension | | optional extension |
| Personal Asset Coverage | | | optional extension | optional extension | |
| legal protection | | | optional extension | optional extension | optional extension |
| Monthly charges | £ 27,98 | £ 33,98 | £ 31,78 | £ 30,92 | £ 26,39 |
| default rating | 5 Sterne | 5 Sterne | 5 Sterne | 5 Sterne | 5 Sterne |
| Good for… | Boiler emergency cover included as standard | Reporting on matching sets and suites | No administration or cancellation fees | 12-month warranty on repairs when using recommended repairers | 25% discount for national members |
How much does home insurance cost?
How much you pay for your home insurance depends on a number of factors, including the size of your property, where you live, the cost of rebuilding your home, and what you're insuring. Therefore it's hard to say how much you can expect to pay.
However, according to the Association of British Insurers (ABI), the average cost of a combined houses and contents insurance policy was £300 a year in 2022 and a home insurance policy cost an average of £116 in 2022, showing it can be cheaper to buy one combined policy and not two separate policies.
For more information on how much you can pay for your homeowners insurance and what impacts the cost, see our articles:
- What affects the cost of home insurance?
- How much does home insurance cost?
How to get home insurance
One of the quickest and easiest ways to get home insurance is through a comparison site such asOffer zone*. Comparison sites allow you to compare multiple home insurance policies at once to find the best deal for your situation. We have teamed upOffer zone*This allows you to search and compare great deals from over 40 UK home insurance providers. Note, however, that comparison sites don't always cover the entire market, so you might find a better deal elsewhere. In addition, some providers, such as B. Direct Line, not listed on comparison sites, so you need to visit the site directly to get a quote.
Before you get home insurance, there are a fewThings to be aware ofto ensure you get the best deal including theType of home insurancehow much it will cost to rebuild your home and the policy deductible. You might also want to think about itWhen is the best time to take out homeowners insurance?.
How to save money on home insurance
Home insurance is an important purchase for most people, but it can be expensive. Below we've listed a few ways you can save money on your home insurance, but see our article “How to save money on home insurance'.
- shopping spree- Comparing home insurance quotes from multiple providers can be the easiest way to save money as the first quote you get is unlikely to be the cheapest. Comparison portals likeOffer zone*can make this easier because you can compare multiple providers at the same time to show you the cheapest deal.
- Check if you can get cashback– Cashback-Sites wieTopCashback*may have refund offers if you take out a policy with certain providers. For example, you can earn up to €75 cashback if you take out AXA homeowners insurance through TopCashback.
- Combine your policy– Combining your buildings and contents insurance can be cheaper than two separate policies.
- pay annually– If you pay your insurance premium annually, you can save on the interest charged by the provider. Damien explains more in this mobileVideo.
- Increase your deductible- Agreeing to pay more upfront in the event of a claim can help reduce the cost of your monthly or annual premium, although you must consider that you will have to pay this in the event of a claim.
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