Home emergency cover is included in standard home insurance policies, right? Wrong. Many UK homeowners think this is the case, often to their detriment. While there are some policies that provide cover in the case of emergencies and fire, this isn’t standard practice and you’ll often have to pay extra premiums for home emergency cover.
Standard home insurance policies don’t always cover an emergency. Something suddenly bursting into flames, an infestation of squirrels or a burst pipe can be a nuisance. It is for these specific situations that home emergency cover comes into play.
The occurrence of such calamities often depends on the time of year as well.
For example, pipes tend to burst and boilers break down during the winter. Other panic-inducing situations can happen all year round.
The main question is simple: should I get standalone home emergency cover or should it be part of the overall policy?
Home emergency cover: The facts
The independent financial researcher Defaquto listed over 400 hundred home contents insurance policies. When we looked closely at them, we discovered that only 18% of these policies included emergency cover for the home. In addition, just 49% offered it as an optional extra.
- The maximum limit of cover went from £500 to £4,000. Over 300 of these policies had a 24-hour claims notification helpline.
- Levels of cover were also different. Seven policies would cover four or fewer kinds of emergencies that occur in the home. 124 policies covered five to seven types.
As we always advise, always check the terms and conditions of your policy.
Home emergency insurance – An explanation
Cover for home emergencies is primarily designed to protect against misfortunes that can occur in the home. Householders usually can avail of a helpline (available 24 hours a day). This also means that they’ll get an approved tradesperson – fast. The policy will also provide for the costs of labour, call-out and necessary materials for repair. Temporary accommodation may also be included.
If you already have home insurance policy, you should check the terms and conditions. You may already have the cover you need for emergencies that crop up. Level of cover and price may vary, so it could be worthwhile to get additional cover. This is particularly useful, especially if your boiler breaks down in winter!
The whole point of insurance is to cover any potential accidents… Unfortunately, there is a whole host of things that could happen to your home. When getting emergency cover, it is also important to assess what risks your home may be susceptible to. Taking the time to figure this out will not only save you money. It will also give you the peace of mind to know that no matter what, you will receive compensation for any misfortune that occurs.