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What Type of Home Insurance?

The world of home insurance can be a daunting and confusing place to visit, seemingly full of numbers, statistics and bewildering terms. For most people, this can be simply sorted by going through a broker and letting them figure out what’s best for them, but with online comparison sites and direct websites becoming the more popular way of purchasing home insurance, it is important to understand some of the terms used in the insurance world.

Combined home insurance is generally what most home owners will go for; it covers both building and contents insurance, which means that the structure of the building is insured against damage and the cost of rebuilding as well as the goods such as furniture and appliances inside the building being covered.

Some people may wish to go for one or other of these policy types separately. For instance, landlords offering rentable accommodation may wish only to purchase what is expected of them, buildings insurance, while those living in the rented accommodation will want only what is not covered – contents insurance.

Home insurance can be an expensive item and as it is an expense that will occur annually it is best to make certain that you get the right type of policy and shop around the various sites, brokers and companies such as Policy Expert to get the best rates available. The cost of home insurance will depend on where the home is, how much it cost to build and various other factors, such as the risk of floods, etc.

Some matters affecting home insurance prices can be varied by the owner, such as installing good security to lower risk of theft, or setting up a neighbourhood watch scheme. These simple steps can have a great affect on the price of home insurance.

Depending on the value of the furnishings in your home, it may be a good idea to go with high value home insurance, which covers houses with contents over the value of £80,000.

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