5 Types of Add-ons that can Affect Your Home Insurance Cost
When you think of the costs of home insurance, you generally think of the premium. However, there are certain add-ons which too affect the cost. Here are a few of them.
1. Accidental Damage
Your regular contents insurance policy includes some cover for accidental damage, for example to stereo system; but it doesn’t cover accidental damage to furnishings or goods. You can get an extended cover for these items for an additional cost. It can be especially be useful if you have young kids.
2. Home Emergency Cover
Home emergency cover is meant for the protection of your home against a lot of household disasters such as a broken boiler or burst water pipes. Starting at about minimal fee, the coverage can even include electrical faults, unwanted pests and replacement locks. You should check the terms and conditions carefully because these policies can vary a lot between home insurers.
Check carefully if you are expecting to get boiler cover while buying the home emergency cover. Claims may be restricted to comparatively low amounts, sometimes the coverage you have, which may not be sufficient to cover you if you have to buy a new boiler.
3. Legal Expenses
The legal expenses add-on covers the expenses of legal proceedings if you have to defend a claim or take action. It usually covers the legal expenses suffered in most property, consumer and employment disputes, personal injury as well as any award of the legal costs of the other party. Some insurance providers include this cover into the main policy, but most others charge an extra fee.
4. Personal Possessions
Under a personal possessions add-on, you can cover your portable items like mobile phone or tablet, or handbag while you’re outside of your home and abroad. It’s sometimes known as all-risks extension. However, there are some restrictions; so, talk to the insurer before buying.
5. Downloads Insurance
Downloads insurance will pay out for any lost digital content if your phone, tablet or laptop is stolen from your home. This cover includes mobile phone ringtones, music, films, television programmes, computer programs and software tools stored on MP3 player, mobile phone, home entertainment system, desktop PC or laptop.
Besides these add-ons, you may also have to pay extra if you want to make certain changes to your home insurance policy. Just check all these points how they add to the cost of your policy, so as to get a clear idea of how much you are going to pay.