Home Insurance: does it cover the things that matter to you?
Small print. Many of us skim the finer details, but unless you take a proper look at your insurance documents, you might be in for a nasty surprise when you come to claim. Here are a few things from your policy that may not be covered unless you obtain a more comprehensive policy.
- Problematic pets
Torn up carpets and chewed up furniture are common sights for owners of pets, but cover under a home insurance policy, is far less common. Research conducted by Which?*** Showed that only 14% of policies covered pet damage as standard. Eight in 10 (78%) didn’t cover it at all and one in 10 (8%) offered it as an optional extra.
- Oops moments!
Accidental damage may be the driving force for a lot of us seeking insurance, but there are remarkably few policies where this is covered as standard. Many providers offer it as an optional extra though so it’s worth looking to add that in, especially if you’re spending more time at home as a result of the pandemic.
When it comes to buildings insurance policies, only three in 10 (29%) included full accidental damage cover as standard, and the same number offered it at an extra cost. The majority of buildings insurance policies, though, provided some accidental damage cover as standard, with full cover available as an extra. As for damage to contents in your home, just two in 10 covered it as standard, while four in 10 (42%) offered it as an extra and a quarter provided partial cover with more available at an additional cost.
If you damage something that constitutes part of a set, like that lovely dinnerware set, or a three-piece suite, it’s worth noting that only 47% of the policies analysed by Which?*** covered matching sets, and would replace the entire set if damaged. This is especially helpful if it would be challenging to replace a single element of the set.
- Trampoline tragedy!
Ensuring the garden is covered in your policy may not be something you’ve considered, but especially when it comes to big ticket items like hot tubs and trampolines, ensuring your garden is included in your policy is essential.
Most policies do cover gardens as standard, but one in five of the policies looked at by Which? Either didn’t include it, or it was taped on as an added extra, so make sure you check!
- Outdoor outlaws
The things we store in our outbuildings and sheds can soon mount up to being worth quite a bit of money, from lawnmowers to bicycles and even power tools. So, ensure theft from the shed is covered. Most policies did include this but for one in ten not too, it could be an easy oversight, especially on those cheaper policies.