Home and contents insurance – things to take into account

It's fair to say that everyone's personal conditions, valuables and possessions will change at some time or another and making sure that you have the right amount of insurance cover is critical, otherwise you could find yourself underinsured should the worst type of happen.

Get your sum insured right - it's important that you have the right level of cover to ensure you're able to reinstate everything should you have to make a claim. It might be wise to make an accurate assessment of what your house and contents are value.

Insure your home for its rebuild cost, not its market importance - your buildings insurance 'sum insured' must reflect the complete rebuild cost of your home, not its current marketplace value. If it's a new listed property, work will often should meet special Grade demands and insurance claims could workout more expensive - using specialist craftsmen and making use of traditional materials could increase the money necessary for rebuilding.

Reflect home improvements inside your sum insured - household extensions, new kitchens and bathrooms need to be included when renewing your house insurance as they increase rebuilding costs and then the sum insured. Also remedies fitted solar panels or other energy saving devices for a property you should make your insurer aware.

Review your policy often and update your subject matter - keep a review expensive items like flat-screen Tv set, music players, laptops and jewellery. Gold prices have increased significantly over past years, so it might be worth valuing your appreciated items again and making sure they're covered.

Also consider your clothes, shoes, hobbies and sporting activities - have you got expensive gear stored aside? If you're a financial institution, you may also want to consider how much it would cost to exchange your valuable or exceptional items.

And don't underestimate the money necessary for replacing carpets, curtains and other fixtures and fittings - important items we all neglect, but the costs rapidly add up if they have to be replaced.

Buy home and contents cover as well - the average cost of an home and contents policy is £237, but it could work out much more if you buy these people separately or from different companies. Buildings insurance covers the fabric from the building while contents insurance covers your belongings and everything inside. Usually by combining ones cover means there's only one excess to pay if you were to manufacture a claim.

Don't go with price alone - everyone's home, possessions and circumstances will vary so choose the cover you need and be sure to compare like-for-like. If you might have specialist requirements, contact ones insurer direct.

Tell your insurer in relation to security measures - you could possibly well benefit from fitted approved window and doorway locks, installing and making use of burglar alarms or joining a neighbourhood watch structure.

And make sure a person tell your insurer in relation to past claims - you have to let them know remedies previously made a claim as it avoids potential problems at a later date. If you withhold data, knowingly or unwittingly, you could run the risk of an future claim being broken. If in doubt, always confer with your insurer.