Home insurance tips?

Carmex_Fan

Hi,

I live in a housing association ground floor flat.
I would like to take out home insurance. Do I just need to do contents? Am i liable for the building damage?

Also if something breaks, how hard is it to claim? How about accidental damage- what counts?

Oscar_The_Grouch

Hi there

The housing association will be insuring the buildings so you only need to do contents.

Contents insurance automatically includes "occupiers liability". This means that if there is something in your flat that you are responsible for (ie, the housing association decide to try to sue you for damaging the building), you will be covered.

Accidental damage is a good idea. Most policies cover accidental damage to TV's Hi-fi's, video and audio equipment as standard, but will only cover a paint or wine spillage on a carpet or sofa if you have the accidental damage extension.

Remember that an insurance policy is not a maintenance contract; you say in your post "if something breaks, how hard is it to claim". If your TV just stops working, that's not insured as no contents policies include breakdown cover. If you then decide to "drop the telly" so that you can claim, that's fraud and the insurer will find out when they have the TV inspected.

Carmex_Fan

Thnaks Oscar. In temrs of claiming I mean, what if I accidently cracked my wardrobe mirror or broke my bed?

latecomer

I think you'll find that each policy covers different things and its worth reading the small print to find any exclusions. Most accidental damage cover will cover most accidents like those you describe. I've never claimed on contents so dont know how difficult it is but it should be relatively easy.

Word of warning though, if you have a few claims in a short time you may find that insurers will not cover you or ask for very high premiums. We got flooded from the flat upstairs 3 times in 5 years and some companies wouldn't cover us at all, even when we moved into a detached house and hence couldn't possibly be flooded in that way again.

Also make sure you get new for old cover otherwise you wont necessarily get the full value of a new replacement but rather a proportion of the new cost which is reduced for age/condition etc.

Carmex_Fan

Ok thanks for your help.

lisyloo

what if I accidently cracked my wardrobe mirror

Whenever you claim you will have to pay an excess and your premiums will rise in subsequent years.
You therefore have to work out whether it's worth claiming.

Probably for a wardrobe mirror it wouldn't be worth claiming (although it depends on the size and cost).

Carmex_Fan

OK, thanks.