Every home is unique, including yours. Your property will have features and contents that determine its particular security risks, and the replacement cost. But everyone can get the best insurance deal with the right advice.

In this smart homeowner’s guide, you will discover the 7 ways to maximise your home ownership cover. 

1. Understand Your Policy Inside and Out

It’s easier than ever to get the  home insurance  coverage you need. You can now get all the information you need online, and purchase coverage with just a few clicks. However, this does not eliminate the need for thorough research. 

There are different types of home insurance policies. In the UK, home insurance typically comes in two types of policy — one covering structural fixtures, and one covering home contents like furniture, appliances, and personal belongings. 

However, the specific terms, conditions and benefits of policies vary between insurers. Always review a policy document thoroughly before agreeing to anything. When you know what is covered, and what is not, you can make an informed decision. 

2. Assess the Value of Your Home and Belongings

Conduct a home inventory to assess the total and individual value of your home contents. Regularly repeat this assessment to update your coverage as the value of your property increases. 

Whether you own a house, flat or maisonette, the same basic methods apply to estimate the replacement cost of your home’s contents:

  • List the contents of each room/area of your property. Take photos of high-value items to avoid disputes later. 
  • Determine whether or not they can be replaced in the event of loss or damage. Find out what the cost of their replacement would be at the current market value.
  • Get valid valuations for high-value items like fine jewellery or art. 
  • Enter the information into any inventory forms your insurer provides. Keep your copy safe, for future reference. Update it as and when necessary.

3. Consider Additional Coverage for Natural Disasters

Home insurance typically covers loss or damage resulting from housebreaking and theft, malicious property damage, and accidental impact (for example, a vehicle). 

Standard home insurance often covers damage or loss resulting from fire, lightning, earthquake, explosion, storms and floods. This is often limited and might suffice for your particular needs. But if you live in an area prone to natural disasters, you’ll want additional coverage. 

Get the comprehensive insurance you need. Conversely, don’t be duped into purchasing additional coverage you won’t need. If you’re new to the area and as yet unsure of local weather, do the research. 

Severe weather and flooding can happen anywhere. Millions of people in the UK are at risk of damage to their homes and loss of possessions due to flooding. Some areas are more at risk due to topographical factors, so assess your needs based on your location’s historical weather and unique risk factors.

4. Bundle Your Policies for Maximum Savings

You likely have other insurance needs, too. Insurers prefer their clients to take out all their policies with them and may offer discounts for doing so. So. speak to your insurance provider about maximising your coverage through bundles. 

Bundling your home insurance with other types of insurance, for example, your car insurance can save you money. But don’t settle for the first quote you get. Shop around for the best bundled insurance deal.

5. Regularly Review and Update Your Coverage

Your lifestyle will change over time, and this will be reflected in changes to your property. Some of these changes will be subtle, like new furniture and appliance purchases. Others will include major renovations. Consult your insurance agent to check that your home insurance coverage is still adequate. 

Have you added on a home office, or a nursery for a new member of the family? Perhaps you’ve modernised your kitchen to cope with growing family needs? Such amendments may necessitate updated coverage. Review your policy annually and update your coverage, accordingly.

6. Take Advantage of Home Security Discounts

Homeowners are responsible for the safety and security of their homes. That’s why one of our top home security tips is to install a security alarm. It makes home invasions, burglaries and other crimes against your property less likely, and may reduce home insurance premiums. 

Various security measures may offer this benefit,  including audible burglar alarms, security monitoring services, deadbolts on doors, window security bars, and security lights/cameras. Some insurers may also reduce premiums if locks have a British Standards Institution (BSI) mark.

Choose the right security system for your home. Consider your property’s unique security needs, the type of property crime most common in your area, as well as your home insurance provider’s recommendations. 

7. Leverage Legal Advice for Complex Claims

The claims process timeframe differs depending on the complexity of the claim. You could find yourself at odds with your insurer about whether or not your claim is valid. You may feel entitled to a full replacement of damaged property while your insurer may insist on partial replacement. 

Whatever the case, don’t leave anything to chance. Some claims are inherently more complicated, and you’ll need help resolving them. Find a qualified attorney who specializes in home insurance claims. The right legal advice will ensure that you receive the full benefits of your coverage.