It’s tempting to think that simply by paying the bills, everything in your home will tick over nicely, but there’s something else to consider: home insurance. For as little as  a few cups of coffee a month**, you can insure most of your worldly possessions. Yes, really…

No matter the excuse you might have for putting off taking out that policy, it really can be worth getting one now, paying out a little every month could potentially save a lot more later.

Excuses, excuses

Here are four big excuses for not getting home insurance, or simply putting it off, and why they’re all about as useless as getting a ‘BEWARE OF THE DOG' sign for your 8lb shih tzu.

1) ‘My landlord already has insurance’

There are two types of home insurance: buildings and contents. To tell the difference between the two, imagine your property has a lid on top of it, like a doll’s house. If you turned the property upside down and shook it, everything that fell out – the clothes, the shoes, the electricals, bicycles, jewellery and TV (yes, even if wall-mounted) – would be considered contents. Everything that remains inside is considered buildings.

 

landlord

You’re a renter

So it’s up to your landlord to have buildings insurance in case anything happens to the parts of the place they own. The landlord is also responsible for insuring any contents that he owns if the property is rented furnished. If you want to be sure of the safety of your own contents, in the event of anything particularly awful like a fire or a burglary, a contents insurance policy could cover the cost of repairing or replacing your damaged or stolen property.

You're a homeowner

If you own your home and you have a mortgage then it will usually be a condition of the mortgage that you have buildings insurance, but mortgage or not, it’s always wise to have buildings insurance. And contents insurance is just as relevant to you as it is for someone who rents their property

You just own the leasehold

If you live in a flat or a building comprised of different homes on a leasehold ownership, there may be a landlord in charge of the freehold. In this case, it’s up to them to get buildings insurance – but, take note, the landlord is only responsible for the parts of the property they own. So if they look after the stairwell of the block of flats you live in, their buildings insurance will only cover their stairwell. Should anything horrible happen to the part of the property you own it will not be covered by their buildings insurance so you would need to have your own buildings insurance policy.

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2) ‘I’ll end up paying out more than I’ll ever claim’

It’s understandable to think this way: house theft is the only crime that is, nationwide, lowering year-on-year. From 2015-2016, it went down by a whopping 12%. But it still accounts for 764,000 recorded crimes last year. Unfortunately, even if burglary is less likely than before, you could still spill wine on your carpet or spring a leak. Protecting against these types of situations – or at least covering your back just in case the worst should happen – doesn't have to cost oodles or take ages. Home insurance premiums on our site start at just £20.50 a month for buildings and contents insurance,*** and with the average pay-out costing £2,520, it really could be worth it.

Back in the day, you’d have to make a call, wait for documents to come, sign the documents, return them, and then wait for another letter to confirm your insurance policy. Now, you can browse dozens of insurance policies, at a click of a few buttons.  

3. ‘I live in a good area and my home’s safe’

Firstly, that won’t stop it catching fire or getting damaged in a storm. Secondly, that doesn’t rule out a burglary. Imagine, for one second, you’re a thief. Why go to the dodgy end of town when you can go to the place where the best stuff is going to be?

Also, with an increase in people using social media to showcase their holidays in real-time, canny thieves have an even better way of finding out that you’re away. Having a  light turned on indoors, curtains drawn 24/7 or even leaving the radio on full blast could convince burglars you’re away, but one look at your social media and they’ll know the truth and could take advantage. 

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signing

4. My stuff just isn't worth that much. Is it?

Wrong! You might look around at your old pots and pans and TV and wardrobe and think it's outdated and useless, especially if you're watching all those adverts on your (not very old at all, admit it) TV. But it is still worth something! According to the Association of British Insurers (ABI) the average three-bed family home contains £55,000 worth of stuff inside and while even the craftiest and most immoral burglar might not be able to sell everything on (who really wants your used underwear?) all that stuff would cost a lot to replace should there be a leak, a fire or any other damage to your property. If you can believe that you really never know how much you've got until it's gone, it might be a good idea to make sure you’re covered just in case something were to happen! 

Compare today

Why not have a look at our home insurance tables, based on what you think you might need – whether that’s contents, buildings, or both. A little now could save you a lot later.

 

**Based on the price of a Venti Café Latte from Starbucks as of 20/04/2016 which is £2.95. Source: https://www.fastfoodprice.co.uk/starbucks-menu-prices-uk/

***Prices start from £20.50 for buildings & contents insurance based on August 2016 cheapest premiums