What you need to know about home insurance

Sponsored by KBC Bank Ireland.

 

When you have a family to worry about, it’s even more important to ensure you have the right cover so that everyone is looked after if something happens your home.

 

Here are the important things to consider when deciding where to purchase your next policy.

 

What is Home Insurance for?

 

Home insurance is designed to cover the cost of unexpected losses, such as destruction caused by a house fire or theft. It’s important to note that if your property is not in a good state of repair, your claim may not be paid in full. Find out about Home Insurance with KBC and their current offer of 20% off all new home insurance policies. 

 

How do I know how much to ensure my house for?

 

It is very important to insure your home for the correct amount, otherwise your provider will only end up paying you a proportion of the cost needed for repairs or replacements. It’s best to be safe so think about how much it would cost to rebuild your house and replace its contents if everything was destroyed in a fire. Remember that this would include things like a fitted kitchen, flooring and maybe even your garden shed.

 

 

What about contents?

 

Again, it’s so important to insure all items for the right amount, especially if you take them outside the home. You should also notify your insurance provider of any new valuables you purchase or acquire after you take out your policy, such as expensive electronics or engagement rings.

 

I’ve heard about an ‘excess’ – what is this?

 

This is the part of your claim you’ll be required to cover before your insurer pays out and most home insurance policies include an excess. KBC currently offers a €50 excess all-risks cover for Specified Items (€65 for Smart Phones) and €100 excess for Unspecified items. 

 

Is home security an important factor?

 

There are security conditions required under all home insurances policies and it’s important to become familiar with these. Some providers require homes to have key-operated locks on accessible windows or a specific lock on main doors. Be sure to read your policy carefully – if security requirements aren’t met, you may not be fully covered when you try to claim. One example of this is if you mention a house alarm on your policy, it must have been on in order for you to make a claim following a burglary. 

 

 

Are there any hidden clauses?

 

As with everything, there are always going to be a few things that could be lost in the fine print if you don’t read the policy properly. For example, insurers will usually restrict the cover available if the home is left empty for a certain length of time.

 

But you shouldn’t read the policy just to spot negatives – you may discover some really great perks that perfectly suit your family’s circumstances!

 

For example, KBC have a number of special features such as:

For more on KBC’s Home Insurance, visit KBC.ie  or call 1890 37 38 39. Find out about their terms and conditions here.