Home Insurance
Speak to Protection Advisor
or
Why Choose Ascot Mortgages
What Our Clients Say About Us
Written by:
Richard Johnson
Ascot Protection Expert
Last Updated:
11.06.2025
Written by:
Richard Johnson
Ascot Protection Expert
Last Updated:
11.06.2025
Everything You Need to Know About Home Insurance: A Comprehensive Guide for Homeowners
Buying a home is one of the most significant financial commitments most people will ever make. As a mortgage broker, we understand the importance of protecting that investment. Home insurance, also known as homeowner’s insurance, plays a vital role in safeguarding your property, possessions, and financial future.
In this comprehensive guide, we’ll explain what home insurance is, why it’s essential, how it works, and how to choose the right policy to suit your needs.
What Is Home Insurance?
Home insurance is a type of property insurance that provides financial protection against damage or loss caused by events such as fire, theft, storms, floods, or accidents. A typical policy includes coverage for:
- The structure of your home
- Personal belongings
- Liability protection
- Additional living expenses (if your home becomes uninhabitable)
Why Home Insurance Matters
- Protects your investment – Your home is likely your most valuable asset.
- Required by lenders – Mortgage lenders usually require home insurance as a condition of the loan.
- Provides peace of mind – Knowing you’re financially protected helps reduce stress.
Types of Home Insurance Coverage
Home insurance isn’t one-size-fits-all. It consists of several components, and understanding each will help you select the right policy.
Buildings Insurance
This covers the physical structure of your home, including walls, roof, floors, windows, built-in fittings (like kitchens and bathrooms), and outbuildings.
Typical events covered include:
- Fire
- Storm or flood
- Theft or vandalism
- Burst pipes
- Subsidence
Contents Insurance
Contents insurance protects your personal possessions inside the home, such as furniture, appliances, clothing, electronics, and valuables.
Optional extras may include:
- Accidental damage
- Personal belongings cover (for items outside the home)
- High-value item protection
Combined Buildings and Contents Insurance
Many homeowners choose a combined policy for simplicity and better value. This offers full coverage under one provider and one policy.
Liability Insurance
Covers legal costs and compensation if someone is injured or their property is damaged on your property. It may include:
- Personal liability
- Employers’ liability (if you employ a cleaner, nanny, etc.)
- Tenant liability (for renters)
Additional Living Expenses (Loss of Use)
If your home becomes uninhabitable due to an insured event, this coverage helps pay for temporary accommodation and associated living costs.
How Home Insurance Works
Policy Terms
Most home insurance policies are annual contracts. You pay a premium (monthly or annually) and, in return, receive coverage up to a certain limit.
Claims Process
- Notify your insurer promptly after an incident.
- Provide evidence (photos, receipts, police reports).
- Insurer assesses the claim.
- Payment or repair is arranged if approved.
Excess
This is the amount you must pay toward a claim. A higher voluntary excess may lower your premium, but be sure it’s affordable.
Key Considerations When Choosing a Policy
Rebuilding Costs vs. Market Value
Buildings insurance should reflect the cost to rebuild your home, not its market value. Rebuilding includes materials, labor, and professional fees.
Valuing Contents Accurately
Take an inventory of your belongings and estimate replacement costs. Underestimating could lead to insufficient coverage.
Understanding Exclusions
Always read the fine print. Common exclusions include:
- Wear and tear
- Damage from poor maintenance
- Floods (may require separate coverage)
Specialist Cover
Certain homes may need tailored insurance:
- Listed buildings
- Thatched roofs
- Non-standard construction
Common Add-Ons and Optional Extras
Accidental Damage Cover
Protects against unintended damage, such as spilling paint on carpets or dropping a TV.
Home Emergency Cover
Covers emergency repairs (e.g., burst pipes, boiler breakdowns).
Legal Expenses
Helps with legal costs for disputes with neighbors, employment issues, or faulty goods/services.
Valuables and High-Risk Items
Items like jewelry, watches, and art may need to be listed separately.
Home Insurance for First-Time Buyers
As a mortgage broker, we work with many first-time buyers. Here are some common questions they ask:
Is Home Insurance Mandatory?
Buildings insurance is typically required by mortgage lenders to protect their interest in the property. Contents insurance, while optional, is strongly recommended.
When Should I Take Out a Policy?
Arrange home insurance to start on the date of exchange, not completion. This ensures you’re covered as soon as you’re legally responsible for the property.
Tips for Saving on Home Insurance
Compare Quotes
Use trusted comparison tools or brokers (like us) to get the best value.
Bundle Policies
Combine buildings and contents insurance for potential discounts.
Increase Your Excess
A higher voluntary excess often reduces premiums.
Improve Security
Fitting approved locks, alarms, and security systems can lower your risk profile.
Avoid Over-Insuring
Only insure the rebuild cost, not the market value. Accurately assess contents.
The Link Between Mortgages and Home Insurance
Why We Recommend Getting Both Through Us
As a mortgage broker, we can streamline the process and provide trusted advice, ensuring:
- The lender’s requirements are met
- You’re not under- or over-insured
- You get access to exclusive insurance deals
- Everything is handled in one place, saving time and hassle
Home Insurance and Remortgaging
When switching lenders, you’ll need to review your home insurance policy. It’s a great time to:
- Reassess your coverage
- Shop for better rates
- Bundle policies for additional savings
We’ll guide you through the process to ensure a smooth transition.
Home Insurance FAQs
Q: Do I need insurance if my home is leasehold?
Yes. Often, the freeholder arranges buildings insurance, but you’re still responsible for contents.
Q: What if I rent my property out?
Landlord insurance, a specific type of buildings and contents cover, is required.
Q: Does home insurance cover maintenance issues?
No. Insurance is for sudden, unexpected events — not general wear and tear.
Q: How often should I review my policy?
Annually, or when you renovate, buy new valuables, or change how your home is used.
How We Can Help
At Ascot Mortgages we do more than arrange mortgages. We partner with top insurers to provide comprehensive, competitively priced home insurance policies tailored to your needs.
Our service includes:
- One-on-one consultations
- Independent advice
- Full coverage explanations
- Claims support
Whether you’re a first-time buyer, remortgaging, or an experienced homeowner, we’ll ensure you have the right protection in place.
Final Thoughts: Protect What Matters Most
Your home is more than bricks and mortar — it’s your family’s safe haven, your most significant asset, and a space filled with memories. Having the right home insurance ensures you’re financially secure, no matter what life throws your way.
Let us help you secure a policy that offers the protection you need and the peace of mind you deserve.
Whether you’re a first-time buyer, remortgaging, or an experienced homeowner, we’ll ensure you have the right protection in place.
Contact Us Today
Need expert help finding the right home insurance? Reach out to our team at Ascot Mortgages. We’re here to guide you every step of the way — from securing your mortgage to protecting your home.
Apply for a Protection
Get things moving, apply for a protection.
Call Now - 01925 711558
Free unbiased protection advice is just a phone call away
FAQ
To make a claim, contact your insurance provider as soon as possible and provide details of the incident. Keep all relevant documents and photographs to support your claim.
In the UK, some insurers may check your credit score, which could affect your ability to spread the cost of premiums over monthly instalments.
Yes, most home insurance providers allow you to transfer your policy when you move. However, it’s essential to notify your insurer of the new property details.
Yes, though flood-risk properties often come with higher premiums. Some insurers provide specific flood cover policies.
You can estimate the rebuild cost of your home by using an online calculator or consulting a chartered surveyor.
Yes, farmhouses can be insured under standard home policies, though specific cover may be required depending on the property’s usage.
Typically, home insurance covers working from home for clerical work, but it may not cover business equipment or visitors.
If you’re struggling with payments, contact your insurer to discuss options, such as adjusting cover or payment schedules.
The amount of cover depends on your home’s rebuild cost and the value of your possessions. It’s vital to ensure you’re neither over-insured nor under-insured.
Valuables can be protected both inside and outside the home, but you’ll need personal possessions cover for items taken out of the house.
Yes, home insurance typically covers damage caused by leaks, though you must report the issue promptly.
Yes, many providers offer specialist policies for unoccupied properties, though these tend to be more expensive.
Meet Our Team
