Get the perfect policy for your home with expert advice from Cornmarket

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As the nights draw in it’s a great time to take stock and make sure you have the insurance cover in place to keep your most prized assets protected – your home.

Choosing the right type and level of cover to protect your property can seem daunting, with so many variations and terms that might not be familiar. While getting cover for a reasonable premium is important, it’s essential to get the cover you need.

You’ll need to think about all these things when shopping around:

Be weather-prepared

Consider the increased risk posed by bad weather at this time of year. Places not usually exposed to floods could be affected by extreme conditions, so it’s important to check all risks are covered on your policy, including flood. To reduce your likelihood of claiming, check gutters are clear of debris and

in good repair. Make sure doors and windows are secure and can withstand harsh weather. Also ensure there are no loose items outside that could be damaged (or cause damage) in gales.

Take stock of your contents

It’s important to insure your contents for their replacement value. If you’re taking out cover or reviewing the amounts insured, consider each room and its contents. An easy way to look at it is to consider anything you would take with you if you left the home. In the run-up to – and just after – Christmas it may be easier to realise the volume of both new and old items, which you might not have included. Items stored in the attic and garage or new gifts may affect your required sum insured.

For valuable items that you frequently take out of the home, such as jewellery, you should consider separate, specific ‘all risks’ cover. There are two ways of applying this benefit to your policy:

1. ‘Unspecified items’ can be applied to your policy to cover a number of items up to a certain value, eg, a number of items of jewellery worth less than £2,500 each could be insured under the ‘unspecified items’ benefit.
2. Alternatively, for a particularly valuable item, this can be covered under ‘specified items’ for their full value – for instance, an engagement ring worth £5,000.

There are different terms and conditions on this benefit, so it’s important to discuss it with your adviser when choosing to add this to your policy.

Be security concious

You should take measures to ensure your home is kept safe. Having regularly maintained smoke and burglar alarms will reduce risk and can reduce your premium. Don’t broadcast your plans for a holiday too widely – social media accounts can provide a notification of an empty house.

Consider your excess

The excess is the amount you’re required to pay if you make a claim on your home insurance. Some insurers allow you to modify this amount, which will have an impact on your premium. The higher your excess the lower the premium but the more you’ll have to pay should you make a claim.

With so many demands on your time, energy and finances it could be easy to put home insurance to the back of your mind, but this could be a costly mistake in the long run. Having adequate insurance provides you with a feeling of security that lasts all year.

IAM RoadSmart members can fix the price of their home insurance for three years, which means you have extra peace of mind knowing that your premium won’t increase.* You can also rest assured that you’re buying your cover from a trusted partner who has been looking after the needs of IAM members for over 15 years.

Check the list

Policy features and benefits will vary by insurer. Use this checklist when reviewing your quotes to see exactly what you’re getting for your premium and to determine which aspects of cover are most important to you: