What is an online home contents insurance policy?

An online home contents insurance policy provides customers with insurance for the contents of their home, and is one of the most common forms of house insurance sold in the UK. Home insurance in the UK is broken into two main different parts, with buildings insurance covering the structure of the home, and your online home contents insurance policy covering the contents of your home.

Not every customer in the UK will need an online home contents insurance policy, and not every customer in the UK will need buildings insurance. If you rent your home, then you will just need an online home contents insurance policy, as your landlord will be responsible for taking out buildings insurance. If you are the landlord, you will just need buildings insurance, and a small online home contents insurance policy to cover the carpet and any other items of furniture you may have in the house.

Customers who own their home, but through a leasehold may also not be responsible for the buildings insurance of their home, and will only need an online home contents insurance policy. The buildings insurance may be the responsibility of the freeholder, but it’s important to check your contract in this situation.

What does an online home contents insurance policy cover me against?

Your online home contents insurance policy covers you against theft, fire, water damage, flooding and storm damage, and will pay to replace everything you have lost in your home, up to the value limit you set when you took out your policy. One of the biggest mistakes customers make when taking out an online home contents insurance policy is underestimating the value of everything in their home.

Customers who are estimating the value of their belongings before taking out an online home contents insurance policy are advised to work out the value of their belongings a room at a time. The most underestimated areas are the kitchen, where food in the cupboards, fridge and freezer should be included, and the bedroom, where customers often underestimate the value of their wardrobes.

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