Maybe the landlord is already paying the insurance for the actual bricks and mortar?
Are you the owner of the buildings?
What type of property do you live in and do you have a lot of valuable items or just simple, basic furniture?
Do you consider yourself accident prone?
Do you have children?
Remember that you need to choose (for both buildings and contents) if you need, and want to pay for, accidental damage cover or if you are happy to live with just the normal risks. Considering questions like these will help you decide.
These days, the majority of online insurance companies calculate the minimum value of a building based on the type of building and number of bedrooms together with your post code. You are then allowed to increase this value if your house is particularly well preserved or if it has additions such as a conservatory or converted loft. It should be remembered that this estimate is for the cost of having the house rebuilt, it doesn't include the cost of the land that the house is built on.
When considering the contents there are two options. You could compile a list of all of your possessions and note beside it the replacement value (we're presuming that you have 'new for old' cover). If that sounds too much like hard work then you might consider a 'bedroom rated' policy i.e. the number of bedrooms in the property is used to determine the level of contents valuation. It would save all that work but you would be very likely to be paying out a higher premium because the contents valuation is over estimated than you need to.
Thirdly, consider all those special items and valuable pieces that you own. When considering any valuable jewellery, antiques or works of art, we always suggest that you specify them as individual items on the policy. This will cost a little extra but it is well worth it. Before doing so, get each piece professionally valued (and if jewellery, gem checked) and get each piece photographed. Similarly with PDA's, laptop computers,bicycles, expensive camcorders and so on. In fact, anything of value that you take outside the house.
Fourth, I recommend you take out cover for unspecified items outside of the home. This cover should also give you insurance to cover accidental damage for the items within your home. This is essential cover for everybody that ventures past their front door! It also covers you for your basic luggage whilst on vacation thus providing savings on your travel insurance. And the cover is better! (Travel insurance providers always pays indemnity - they take off wear and tear. Your unspecified items cover, if you follow my advice, is 'new for old' - except clothes).
Fifth - liability cover. This is a must have. It is always provided free with your other cover. Make sure you have it on both buildings and contents if you are an owner. If you do not own buildings, then the liability cover on your contents policy is perfect on its own. It's a bit like having 'third party' cover on your car (although not compulsory by law).
Lastly, there are the extras that many insurers now provide. Services such as emergency assistance providers or free legal help sound like a good idea but you really shouldn't let these extras affect your buying decision
Now all you have to do is to buy the cover you want. Chose an insurance company that has a good reputation, even if it costs a little more. (All of the insurance companies featured on our site have a good reputation !)..and of course they offer great value for money.
