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Home Insurance

Learning More About Home Insurance

What Is Home Insurance?

Home insurance policies come in three main groups: contents insurance, buildings insurance, and combined contents and buildings cover. For buildings insurance cover, it protects the structure (the fittings and fixtures in your home). On the other hand, contents insurance generally covers your possessions.

Combined building and contents cover is often a much suitable option for those who own the freehold of their houses. For those who own or rent the lease only, the buildings cover must be handled by your managing client or freeholder. However, contents insurance is your responsibility and must be considered by all.

Do I Need Home Insurance?

The real question is, do you want your property to be protected in the event of theft, fire, flood, or any other accidental damage? Or you’d rather deal with the stress and expense on your own? Don’t forget the fact that certain mortgage providers may actually require you to have buildings cover.

We’ll cover your possessions and property against life’s unexpected events. We provide building and contents insurance and a range of added extras to ensure that you get the protection you want.

What are the Key Factors Influencing Your Insurance Quote?

As a general rule, the higher the risk of damage and loss to your property and possessions, the higher your home insurance quote is likely to be. Furthermore, your premium depends on a few factors relating to you, your property, and the actual value of your items. Here are other factors that play a role:

  • Where you live. You could be living in a city that has a higher crime rate level. It could be a woodland area that’s affected by tree roots or even a rural location exposed to inhumane weather conditions.
  • The size of your home. If you reside in a large home, then the rebuilding cost is most likely going to increase your quote.
  • Age and property structure. The materials used to build your property, as well as its age, can have a significant impact on your quote. For instance, wooded structures are especially vulnerable to rot, termites, and fire.
  • Your proximity to a water supply. Because of a higher risk of flooding, properties near coastlines or rivers are usually more pricey to insure.
  • Materials on your roof. Slate and common tile roofs are much easier to insure compared to those that are flat, which are vulnerable to weather damage and burglars.
  • Your lifestyle. Factors such as your age, regardless if you’re married with kids, or far away from home for a long time, can all contribute to your quote.
  • Previous claims. Your claims history is considered regardless if you have moved into a new home. By not telling us, you can invalidate your policy.

What Do You Need To Get a Home Insurance Quote?

  • Structure details. It includes what your exterior walls are mainly made of (e.g., stone or brick) and the flat roof space that you have (such as bays, porches, and garages). For those who are uncertain, we’ll offer you options along with an explanation for each.
  • Property details. Knowing whether your home is a listed property or not, the type of building it is, and the actual year it was constructed.
  • Room details. It includes the total number of bathrooms and bedrooms
  • Personal details. Information on any past claims you’ve made, and anyone else you’d like to add on the policy.

When Do You Need to Call HomeSoon Lending Team?

There are certain scenarios that you won’t receive an online quote because we require some more details. In such a case, give us a call at 877-712-8490.

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