Insurance Provider Discount Maximum Cover

Aviva Home Insurance

  • 40% no claim discount
  • Save up to 20% online
  • Buildings: up to £2,000,000
  • Contents: up to £250,000
More info

Direct Line Home Insurance

  • Get 35% off online
  • Buildings: unlimited
  • Contents: up to £100,000
More info

Nationwide Home Insurance

  • Get 20% off online:
  • Buildings: unlimited
  • Contents: up to £100,000
More info

Virgin Money Home Insurance

  • Up to 80% no claim discount
  • Buildings: up to £1,500,000
  • Contents: up to £150,000
More info

Hiscox Home Insurance

  • 25% no claim discount
  • Buildings: unlimited
  • Contents: unlimited
More info

Those who own a home within the United Kingdom will find it prudent to be insured in the event that unexpected damages occur. For a predetermined monthly premium, the homeowner will be assured that they are financially protected against harm to the structure or the contents found within. Therefore, home insurance can be broken down into two main categories. These are building coverage and contents coverage. Let us take a look at each segment in a bit more detail as well as some of the aspects to consider when choosing a policy.

Building Insurance

As this term hints, building insurance is designed to protect the owner against any instances of “brick-and-mortar” damage that may unexpectedly occur. Some examples of such situations can include fires, floods, vandalism and even discrete situations including burst pipes. One of the things that any prospective homeowner should keep in mind is that a mortgage provider will often require some form of building insurance to be present before allotting any funds; this insurance can be used as future collateral.

Contents Insurance

Any objects that are not considered to be a physical part of the property fall under the category of contents insurance. Some of the most common examples here can be appliances, furniture, electronics, computers, clothing and even upholstery. Should these be damaged, the insurance policy will be able to provide financial remuneration to the policyholder. One addendum to this package is known as accidental damage coverage. This will help to compensate the client for damages as a result of do-it-yourself accidents and similar situations. While this is not necessary, it may be a good idea should one’s possessions be worth a great deal of money.

Building, Contents or Both?

This is a question that many homeowners will ask themselves. The ultimate answer tends to revolve around the rebuild costs of the home (note that this is NOT the same as the market value) and how expensive its contents are. Keep in mind that purchasing these policies as part of an entire package will likely result in substantial discounts from the provider.

Factors to Consider Before Purchasing a Specific Policy

Committing to one policy over another should always involve a substantial amount of research. To make this process notably easier, let us take a look at a handful of the key topics to address beforehand. These will include:

  • The reputation of the insurance provider.
  • The ability to upgrade a policy in the future (such as adding contents insurance onto an existing plan).
  • The price of the policy and the maximum financial payout (in relation to the home).
  • The possibility of premiums lessening in the future should no claims be filed.

Not only will home insurance provide you with financial compensation in the event of severe damage or an act of god, but you will also benefit from the peace of mind in knowing that you, your contents and your family are in good hands.