Don’t fall down the protection gap

Do you know what your home insurance covers? It’s time to review your policy and check that you’re adequately protected.

A survey conducted by YouGov has found that many UK adults aren’t sure what their home insurance covers. This uncertainty could prove costly if the unexpected happens and they realise they are underinsured. In this article, we clear up some common misconceptions about home insurance.

Your fridge/freezer contents

The winter months can exacerbate any maintenance issues in your home, and the extreme weather can cause power cuts. If your fridge or freezer breaks down due to a blown fuse or local power outage, it can be tempting to throw everything away immediately. But most people are unaware that spoiled food is often covered under contents insurance. If your freezer is broken long enough for food to spoil, take a photograph of its contents before disposing of them. Your insurer will then estimate the value of the spoiled goods.

Burglaries

In the winter, homes may be more susceptible to break-ins as burglars take the opportunity to act under the cover of darkness. If you experience a break-in, buildings insurance typically covers you for any damage to the home, such as broken windows or damage to doors. Meanwhile, contents insurance generally covers you for any items that are stolen; however, if you have high value items (such as jewellery or bikes), you may need specialist cover.

Lost keys

Misplacing your house or car keys can be stressful and inconvenient, particularly if you need to call out an emergency locksmith. Many people don’t realise that some insurers will cover the cost of replacing lost keys. However, policies can vary, so it’s important to check first.

Accidental damage

Accidents can easily happen around the house, especially if you have children or pets! Accidental damage is an optional add-on - it can protect you against one-off incidents which cause damage to your home, such as a football smashing the window. It’s easy to forget if you’ve already purchased this cover, so now is a good time to review.

The importance of advice

According to the YouGov research, a third of those who purchased their home insurance through a price comparison site in the last year are unclear what their policy covers. This highlights the importance of seeking advice when insuring your home and personal belongings. You don’t have to navigate the small print alone - we will clearly explain the policy terms, so you know exactly when you are, and aren’t, insured.

As with all insurance policies, conditions and exclusions will apply.

Sources:

https://protectionreporter.co.uk/tis-the-season-to-flag-home-protection-gaps.html