Home Insurance

Home insurance provides protection for the structure of a property and the belongings inside it. Policies may combine buildings and contents cover or arrange them separately. Buildings insurance generally protects walls, roof and permanent fixtures, while contents insurance covers personal possessions within the home. The scope of protection depends on the policy selected and any optional extensions.

Buildings insurance relates to the physical structure of the property, whereas contents insurance applies to items kept inside it. Structural elements such as walls, roofs and fitted kitchens fall under buildings cover. Furniture, clothing and electronic equipment are typically included under contents insurance. The appropriate combination depends on whether the property is owned or rented.

Most mortgage lenders require buildings insurance as a condition of lending. This ensures the property is protected against insured risks such as fire, flood or storm damage. Cover usually needs to be in place from exchange of contracts rather than completion. Requirements vary depending on lender terms.

Accidental damage cover protects against sudden and unintended incidents within the home. This may include events such as damaging a wall or spilling liquid onto flooring. It is not always included as standard and may be available as an optional extension. The scope of protection depends on insurer terms and policy wording.

Home insurance policies typically apply single item limits to valuable possessions. Items such as jewellery, watches or high specification electronics may need to be specified separately if their value exceeds the standard limit. Failure to declare higher value items could affect claims settlement. Limits and excesses vary between insurers.

Flood protection is often included within standard buildings insurance, subject to underwriting criteria and location risk. Properties in higher flood risk areas may be subject to additional terms or higher excess levels. Insurers assess risk using mapping data and claims history when determining eligibility.

Most policies provide cover during temporary absences, although restrictions may apply if the property is left unoccupied for extended periods. Insurers usually specify a maximum number of consecutive days the home can be empty. Longer absences may require prior notification to maintain cover.

Properties that have been altered or extended can be insured, but structural changes must be declared. Extensions and major renovations may affect rebuild cost and risk assessment. Updating the insurer ensures the buildings sum insured reflects the revised structure. Failure to disclose significant alterations could affect policy terms.

The buildings sum insured should represent the cost of rebuilding the property from scratch, not its market value. This includes materials, labour and professional fees. Many insurers provide rebuild cost calculators to assist with estimation. Underinsurance could result in reduced claims settlements if the declared figure is insufficient.

Home insurance through Performance Direct may be relevant for property owners seeking buildings and contents protection tailored to their circumstances. This can include standard residential properties or higher value homes requiring individual underwriting consideration. Cover is arranged according to property type, location and declared value, subject to insurer criteria.