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Home Insurance: Everything You Need to Know

Home insurance is an absolute necessity for every homeowner. It’s a vital investment that could protect you from unnecessary final disaster and protect your belongings and contents of your home. Additionally, if you are planning on getting a mortgage, most lenders wont offer you one unless you have home insurance. Here at We Buy Any House we have compiled our top tips on home insurance.

Who Are the Best Home Insurance Companies in the UK?

As of 2022 the top three home insurance companies are John Lewis, Nationwide and Direct Line. John Lewis came on to as their cover offers unlimited content repairs and replacements. Additionally, their insurance policy allows you to claim in excess of £40,000 to replace or repair any values. On Trust Pilot, Direct Line has a score of 4.3/5, and 64% of overall users said they had an ‘excellent experience’ with the company. When it comes to home insurance, Nation Wide offers unlimited coverage on buildings, even if that means the potential of your property needing rebuilding. Alongside this, Nationwide ensures that all members as of February 2022 will receive a 25% discount if you have a mortgage, savings or current account with them.

How Much is House Insurance a Month in the UK?

In the UK, homeowners are expected to pay their property insurance monthly. Overall, it costs homeowners around £28.87 per month for their home insurance. However, it’s important to be aware that payments that are made monthly rather than up front end up costing around 9% more than if you were to pay upfront.

Is Having House Insurance Worth It?

Home insurance is absolutely worth it. If something happens to your property, whether it’s loss of personal items or damage to the building, home insurance allows you to protect your possessions without having to find the expenses to cover any damage. Additionally, if you are in a worst-case scenario, such as you have to be evicted from the property, then your home insurance can provide temporary accommodation while your property is being repaired.

What Types of Problems Can Arise with House Insurance?

Unfortunately, there are a few problems that can arise when you are trying to insure your home, and there are a few things that you need to be aware of. The list of things includes things such as:

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  • If you are underinsurance, then your insurer may only end up paying a proportion of your claim.
  • It’s vital that you ensure that your policy is up to date, as this way you can claim wear and tear on an item.
  • You will have to thoroughly check through all documents to see if there are any unexpected sections, such as the exclusions as this could massively impact how you can claim things if they get damaged.

This article was written by a quick house sale company We Buy Any House. If you’re wondering “how can I sell my house quickly?”, head to the We Buy Any House website for more information relating to all property related enquiries.