How to choose insurance that will protect your home

February 04, 2025

Insurance to protect your home could help you avoid an unexpected bill should something go wrong, from damage caused by a storm to a burst water pipe.  Read on to find out what you might want to consider when choosing insurance to select the right cover for you. 

While you might hope you never need to claim on your building insurance, thousands of homeowners do every year. 

According to the Association of British Insurers (ABI), insurers paid out £1.3 billion in property claims during the third quarter of 2024. These payments helped homeowners cope with unexpected events like a fire and flooding.

The claims were 15% higher than the same period in 2023 due to adverse weather. Indeed, claims for weather damage alone were £90 million. Subsidence claims were also up and totalled £66 million. 

The average payout for a single claim was just over £6,000 – a record high and 33% more than a year earlier. 

So, what should you consider when searching for insurance? These four questions could help you identify an option that’s right for you. 

Do you want to combine buildings and contents insurance?

Most homeowners will take out two forms of insurance to protect their property – building and contents. You can choose to take out insurance that covers both these areas. 

Building insurance covers the structure of your home, such as the walls and ceilings, as well as permanent fixtures and fittings, like your kitchen or bath. In some cases, it may also cover garages, greenhouses, or sheds, but this isn’t always the case. 

Should you not be able to stay in your home, for example, due to flooding or extensive repairs being carried out, building insurance will often cover temporary accommodation too. 

If you have a mortgage on your home, your lender will usually make it a condition of your mortgage that you take out appropriate building insurance. 

Contents insurance covers your possessions, from jewellery to furniture. 

Combining the two types of insurance could mean you’re able to access a better deal overall and speed up the process of taking out and renewing cover. 

What level of cover do you need?

It’s essential that the level of cover you take out is enough to pay for all your costs should you face an emergency. This is the maximum the insurer will pay out. As a result, if you underestimate the cover, you could find you face a shortfall.

Crucially, building insurance should cover the cost of rebuilding your home, not the current market value. So, you might need to do some research to gain an accurate figure. Some insurers may also have a maximum rebuild value, such as £1 million, which could affect if they’re right for you. 

If your home is not a standard construction, it may be a good idea to get a surveyor to assess the rebuilding costs. 

Would you benefit from additional cover?

Many insurers offer additional forms of cover, which could be useful depending on your circumstances. As a result, you might want to consider if they would offer you peace of mind.

Additional cover might include:

  • Accidental damage to the building structure would cover incidents like putting your foot through the ceiling when accessing the loft.
  • Legal expenses cover might offer you financial support to pay for legal costs if an accident occurred that wasn’t your fault or you find yourself in a legal dispute with a neighbour.
  • Home emergency assistance may cover the cost of tradesmen in some emergency circumstances, such as if you’re boiler breaks down. 

Additional cover might mean your insurance premiums are higher, but in some cases, they could be worth the extra expense. 

What excess do you want to pay?

When you make an insurance claim, you’ll have to pay an amount towards it, this is known as “excess”. The amount is usually pre-agreed, so you can choose the level of excess before taking out insurance. 

Typically, insurance that has a lower excess will have a higher regular premium. 

Contact us if you want to talk about your property

As mortgage advisers, we may be able to help find the right insurance for your property when you’re searching for a new mortgage deal. Please contact us to arrange a meeting with our team.

Please note:

This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.

What our clients say

The people we help are at the heart of what we do. Here are some of their testimonials.

I would highly recommend Darius and John. I’ve used a financial adviser previously and could never get in contact with them when I needed their help. Stratton Wealth Management have been excellent from the start. They are always available to talk, and they also don’t talk in financial jargon!

Dave Rigby -

A client since 2015

Having recently transferred my financial management to Stratton Wealth Management, I have been extremely impressed with the highly professional service I have received. I feel I have been fully involved in all decision making, and the company's highly skilled advisers have shown commitment and patience in any dealings I have had with them. I have also always found them to be easily accessible for any discussion I may require.

Denise Thornton -

A client since 2019

As a business owner and father of four children, finances are usually the last thing we think about. Stratton oversees and manages our finances, both in terms of advice for my business and our personal investments. It is comforting to know that our retirement, investment and life insurance planning has been taken care of. Darius and John are always so efficient in dealing with our affairs. As someone with no real understanding of the ins and outs, it has been fantastic to have experts giving us great advice and making sure our best interests are always the top priority.

Lee and Claire Parkinson -

Clients since 2016

Darius deals with my family’s finances and is a very trusted adviser. We meet a number of times a year, but I know I can call him any time if I have any questions. He is proactive, helpful and friendly!

Jonathan Dennis -

A client since 2019

I knew I needed to begin saving and planning for the future but didn’t know where to start. Stratton helped me to understand my finances and put together a savings plan that is affordable and works for me. I now have and an ISA and a pension, and whilst retirement is many years away, I have the peace of mind that I am saving for my future. I look forward to working with them for many years to come.

Martin Corrigan -

A client since 2016

I have been impressed with the advice and service provided by Stratton Wealth Management and have always found Darius to be approachable, dependable and highly professional in his approach. It is reassuring to be able to have such a high level of confidence and trust when it comes to financial advice.

Russell Jones -

A client since 2018

Many thanks indeed for your in depth report for my client Mrs H – it is most thorough and above all readable. This might sound particularly strange; however you may well gather that in my profession we see many such reports, and I often feel that if the adviser fills it with charts and graphs it evidences a level of research. In truth most of what is produced is readily obtainable from the internet.

I would like to thank you (and your organisation) for your prompt and professional attention to my requirements on behalf of my client. As a practice we shall definitely be putting Stratton Wealth Management on our “preferred supplier list".

Colin Dunstall, Donaldson Dunstall Solicitors -

A client since 2015