House insurance
Need insurance for your home buildings and contents? Read our house insurance tips.
House insurance is designed to cover your home – buildings and contents – against loss or damage caused by a wide variety of events, such as storm, fire or theft.
If you own your home through a mortgage, most mortgage lenders will require you to cover the property under a buildings insurance policy as part of the lending agreement. You can choose whether or not to get contents insurance too, but most people have this for peace of mind to avoid unnecessary expense in the future.
Many people choose to insure their buildings and contents together with one company. You don’t have to do this, but it’s convenient and may save you money. The majority of home insurance companies can cover:
If you apply for buildings insurance, you can usually add a range of options, such as full accidental damage cover or legal expenses to tailor your cover. Furthermore, if you buy contents insurance, you may be able to insure your belongings away from home, usually for a small additional charge.
All this means you can choose the kind of house insurance that suits your life, and pay only for the cover you need – whether you own or rent your home.
Buildings insurance
This type of house insurance usually covers loss or damage to the structure of your home, for example walls, permanent fixtures and fittings (such as bathroom suites), gates and fences, drives and patios. Outbuildings (such as a garage) that form part of your home may also be covered by house insurance. However, please check the full level of cover with your buildings provider.
Contents insurance
This type of house insurance usually covers loss or damage to household goods and your own possessions in your home, including furniture, clothes, TVs… generally anything you can take with you if you leave.
Normally you can pay a small extra charge to cover personal belongings and bicycles that you may want to take with you when you’re away. Again, please check the cover offered with your contents provider.
Things to check in your house insurance policy
Items covered
Different house insurance policies cover different things, and up to different values, so its important that you check this before committing to any cover.
Level of cover
Make sure your house insurance covers your home and belongings for their full replacement value. If it doesn't, this could affect the outcome of a claim.
Excesses
House insurance policies may contain an 'excess'. This is the first amount you would pay in event of a claim. You may have the option to adjust the excess level to lower the premium, however please be aware this would be the amount required from you in event of a claim.
Exclusions
House insurance policies also have ‘exclusions’ – where the house insurance cover doesn’t apply in certain kinds of situations (for example, if you leave your home unoccupied for a long time). It's important to read your documents carefully when you receive them.
Discounts
You may be able to get a discount on your house insurance premium, for example by installing extra security or taking out more than one policy (such as buildings and contents insurance).
Did you know that LV= offers a discount if you take out both buildings and contents insurance together?
It’s important to check the policy details before buying, so you’re prepared if you need to make a claim.
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