The provides cover for structural problems, as well as cover for permanent fixtures and fittings such as baths, toilets and fitted kitchens. Some policies will also cover garages, shed, boundary walls, swimming pools and drives. Sometimes it is cheaper to buy buildings and contents insurance together – check with to get a deal like this.

Usually, the policy will state that you are covered against a list of speicifc risks such as floods, fires or subsidence. Most policies will also pay for accidental damage, although damage caused by DIY will normally incur an extra charge.

The policy will also state what sum you are insured for. This is the maximum the insurer will pay out, and is normally equal to the amount it would cost to rebuild the house (note this is not the same as your home’s actual market value). A chartered surveyor will prepare a rebuilding cost assessment when you take out the policy. Some insurance companies may offer unlimited cover. Others will assess you based on where you live, and the type and age of the property.

Check to see what is excluded on your policy. Common exclusions include storm damage to fences and walls, or frost damage. Make sure you read all the small print on your policy so that you are familiar with what you are and aren’t covered for.

When you come to pay, check to see if you get a discount for paying your premiums up front – some insurers will add extra on if you want to pay monthly. Most policies will also have an excess on them. Excesses range from £50 right up to £1,500 and more. The excess is the money you have to pay when you put in a claim. Sometimes raising the excess will decrease the premium – if you do this, make sure that you can meet the excess if anything happens to your home.

Subsidence

If your home is prone to subsidence, your premiums will probably be higher because of the increased level of risk. There are things you can do to minimise the risks:
- Contact your insurer at the first sign of any structural damage (cracks in the walls etc). The quicker a problem is identified, the quicker it can usually be resolved.
- If you are planting trees, make sure you take into account their final height and plant them a decent distance away from the house (tree roots can cause subsidence).
- Do not remove any established trees without consulting a specialist.
- Clear your gutters on a regular basis. Have blocked drains cleared as soon as you can.
- Check all your pipes annually to ensure they aren’t leaking.

Home Improvements

Remember that if you make any home improvments, you should always notify your insurer. Failure to do so could invalidate your policy. If you do make any home improvements, shop around as you may find that someone else can do you a better deal than your current one.

Click here to view a list of buildings insurers.

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