If you have not updated your home insurance in a while, then you may be underinsured, a problem that could cost you thousands should something happen. It is important to update your buildings and/or contents policy frequently - preferably at least once a year - and also to do so every time you make a big purchase or increase the value of your home in any way (like installing new windows or adding a conservatory).
If it’s been a while since you have updated your policy, then it is time to make a check of your house to see if you are currently underinsured. The first step is to check the house itself. The proper home insurance cover should pay the cost of rebuilding the house should anything happen to the property. Note that this is different from the market value of the home, which is likely to be much higher. Do not forget to include any outbuildings on your property. You should update the rebuilding costs for your insurance cover every time you make home repairs or carry out improvements, and every few years you should re-evaluate the costs to see if […]

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