What is an online home insurance policy?
An online home insurance policy provides customers in the UK with financial insurance against any costs that occur as a result of their home or its contents being damaged by theft, fire, water damage, storm damage, flooding or vandalism.
There are many different elements to an online home insurance policy, and customers can pick and choose the bits that are relevant to them.
Aspects of an online home insurance policy
The main two parts of an online home insurance policy are contents insurance and buildings insurance. Contents insurance looks after the contents of the home, and provides protection against anything that may happen to the furniture, carpets, belongings within the home, and also the contents of the shed and garage.
Buildings insurance protects the structure of the house, and also any fixed items within the home. This includes any kitchen worktops and units, built in wardrobes and bathroom suites. Buildings insurance also protects any external buildings, walls, gates and fences, and includes the structure of your shed and garage.
Not every customer will need both contents cover and buildings cover. Customers who rent their homes will only be responsible for insuring the contents of their home, with the landlord responsible for insuring the building. Landlords on the other hand may only need a small amount of contents insurance to protect the carpets and few bits of furniture they have in the home, but will not need a proper contents policy.
Homeowners will usually be responsible for both and will want to insure their home with both contents and building insurance.
Boiler Cover is another optional add on, which provides insurance for your boiler. If you need the boiler repaired or replaced, your boiler cover will pay the costs, potentially saving customers thousands of pounds. Another additional cover is appliances warranties, which effectively extends the warranties of all the appliances within the home for the duration of the home insurance policy.
Customers can even take out multiple birth insurance as part of their home insurance policy, which will provide a lump sum payment to customers who have twins, and need some help dealing with the financial implications of having two babies at once.