When it comes to home insurance, it’s not just the big-ticket items that matter—numerous small and surprising details can also play a pivotal role in maintaining your coverage.
Finance expert, Gary Hemming from ABC Finance reveals some often overlooked aspects that are as critical as they are unexpected.
Type of Lock: A Small Detail with Big Implications
You might not think much about the type of lock on your door, but insurers do. For instance, your policy might specify that you need a five-lever mortice deadlock conforming to BS3621 standards on all external doors. If you experience a break-in and your insurer discovers the locks don’t meet these specifications, your claim could be invalidated. It’s a small detail with potentially huge financial implications.
Home Office Equipment: Not Just a Laptop
While running a business from home is one aspect, even using your home as a sporadic office can affect your policy. For example, if you have a high-end printer or other specialised equipment for work-related activities and it’s damaged or stolen, your standard policy might not cover it. Clarifying the use of such equipment with your insurer can prevent unexpected claim rejections.
The Unnoticed Renovations: From Attics to Basements
Beyond the obvious extensions and major renovations, smaller changes like converting an attic into a storage space or finishing a basement without notifying your insurer could lead to issues. These changes can affect the value of your property and its risk profile, impacting your coverage.
Social Media Oversharing: A Surprising Risk
In the digital age, sharing your vacation plans or outings on social media can be riskier than you think. If burglars use this information to target your home while you’re away, insurers might consider this as negligence on your part, potentially leading to a denied claim.
Fluctuating Contents Value: The Devil’s in the Details
The value of your home contents isn’t static. Acquiring new gadgets, jewellery, or even art can increase the total value of your possessions. Failing to update these changes can lead to underinsurance, where you might not be fully compensated in case of a claim.
Plumbing and Heating: More Than Just Utilities
Your home’s plumbing and heating systems are critical to preventing issues like burst pipes or water damage. For instance, not maintaining your heating system or leaving your home without heat during a cold spell can result in frozen pipes. If you haven’t adhered to the maintenance or care stipulations outlined in your policy, any resulting damage might not be covered.
Gary said: “Your home insurance is a finely woven net of protection, with every thread playing a crucial role in its strength and effectiveness. Understanding the intricacies of your policy, from the type of locks on your doors to the specifics of your home contents, ensures that this safety net remains intact when you need it most.
“By paying attention to these details and maintaining open communication with your insurer, you can safeguard your home against unexpected events and ensure that your coverage remains robust and responsive to your needs.”
