What to consider when you take out home insurance

Every year many people renew or take out new home insurance policies to protect their belongings against theft and damage, but a recent report has highlighted how many of these people overlook necessities when taking out home insurance cover and forget to take into consideration basic needs that could end up costing them big time in terms of their finances.

For many people taking out home insurance involves protecting the obvious such as televisions, gadgets, and furniture, but all too often the more basic, yet still expensive, things get left behind.

One of the areas that many consumers forget to take into consideration is the garden, and yet this is a place that is not only easy for burglars to access but is also home to a range of high value goods in many cases. Lawnmowers, strimmers, and various other garden tools can be solten from the garden, and on top of this there is also garden furniture to consider as well as fencing and other less obvious items.

In fact, it is thought that in total Brits keep items to the value of around £1.5 billion in their gardens, and this ranges from power tools to garden furniture. With so much as stake it seems odd that many people forget to include their gardens when taking out home insurance, yet this is something that happens on a regular basis, and is also something that can end up costing you dearly if you forget to add this to your cover.

Consumers are also warned to ensure that they speak to their insurance company about something that may be of particular value to ensure that it will be covered. One insurance industry expert said: ‘Most insurers will cover garden items and tools in locked sheds, but if you have something of particular value it may be worth talking to your insurer or a broker.’

One consumer explained how he never thought he would have anything stolen from his garden, but ended up losing his precious coy carp. He said: ‘I think most people worry about home burglaries, but you never think someone would steal from your garden. I was away watching the British Speedway Grand Prix in Cardiff and Mum had been out shopping. When she came back she saw the garden was a bit of a mess. The thieves had targeted the fish, which were probably worth a few hundred pounds, but they also took some lights and a statue.’

Another industry expert said: ‘A few simple steps can reduce the possibility of theft from the garden. Always lock valuable items away where possible in a garage or shed overnight, and weigh down tubs with bricks to make them harder to move.’

Even items in closets have been identified as needing to be considered when taking out insurance. One industry official said: ‘Even if you don’t have one single expensive item in your wardrobe, the average value in a closet can soon add up. Our research suggests that the average woman’s wardrobe is worth about £7,000. We find most people underestimate the cost of replacing all their clothes, imagining it to be close to £3,000.’

Tags: home insurance cover, Types of insurance, garden tools, home insurance policies, Garden furniture, home insurance