Home insurance

There are generally two types of home insurance ;
Buildings
If you think of all the things you wouldn't take with you when you move house then those are probably covered by buildings insurance. It's not just for your bricks and mortar but things like your lavatory and sinks too - well you wouldn't put them in the removal van would you?
You'll have to insure the actual building you live in if it's mortgaged. Whoever you get your mortgage through will probably try to sell you one of their insurance policies but be sure and shop around.
You'd be advised to have buildings insurance if you own the building too. It's basically a policy which pays the cost of rebuilding or repairing your house if it's damaged or destroyed.
You will need to know what it would cost to rebuild you home and it usually covers damage to buildings including fixed glass, landlords' fixtures and fittings, central heating systems, and concrete, paved or asphalt forecourts, yards, terraces - and of course the all-important lavatories and sinks. Remember though be sure to gauge the actual cost to rebuild you home and not how much you think you'd sell it for as there could be a big difference which would mean you could overestimate.
Contents
Home contents insurance covers you for loss of, or accidental damage to, your belongings. It's not only for home owners; people renting flats usually need to arrange their own contents insurance.
How much cover do I need?
It's essential that you're accurate when you add up what possessions you have and how much they are worth. Do a sweep of each room and also think of your shed and things like expensive mountain bikes. Also consider photography equipment and any antiques perhaps as these would need to be valued (and revalued over time) and specified as high value items. Keep receipts and take pictures of them too - you might need to prove you're the owner one day!
For example, let's say you own a Persian carpet worth £8,000. If it's damaged in a fire or a flood and you've not listed it as a specified item, you might only get the standard maximum cover for a carpet which could be several thousand less than what its worth. If it's a specified item, you'll probably to get the full value of what it's worth.
Home office equipment is usually covered but if you're making money as an income and have commercial equipment you might need a commercial policy.
Types of home contents cover
Ask which applies as it can make all the difference to the amount you'd receive if you have to claim.
· New for old
You should get the original price you paid for the items but there's usually a wear and tear deduction for clothing.
· Indemnity cover
You'll only get the current value of your possessions so not what you actually paid for them.
· Add-on cover
You could ask for legal cover to pay court costs or 'all risks' which means property taken outside your home like laptops or jewellery will be covered.