When it comes to deciding on the home insurance policy that is suitable for you, it is vital to look at what the policy covers, so that you do not end up with less coverage than you feel you need. However it is just as important that you are aware of those areas that are not covered by most home insurance policies – usually referred to as ‘exclusions’. If you opt for the most comprehensive level of home and contents insurance, this will protect you against most problems relating to your property and possessions, there will always be some that are not included in the policy.
The first thing to remember is that, although the major points in these policies are likely to be very similar whichever company you go for, the exact details of the policies will vary from company to company. There are some home insurance policy exclusions that will be adopted by one provider but not another – such as the one stipulating that the terms of the policy do not apply unless the home has been lived in for longer than 30 days. Therefore you need to pay attention to the small print of the policies, before choosing one.
Some of the most common types of home insurance policy exclusions are storm damage affecting gates and fences, problems caused by contamination or pollution, damage or loss of information on a home computer due to a computer virus, and losses and damages resulting from terrorism. Many of these are comparatively unlikely to be an issue for most people, while others are factors which few would expect to be a part of a home insurance policy.
However there are potential exclusions which are more likely to affect large numbers of people – for example those relating to running a business from home. Essentially most home insurance policies do not cover any losses or damages which are related to the business – even if they took place in the home – although many providers do offer to extend standard home insurance policies to include those activities related to your business. When finding the right policy it is important to shop around, have a look at insurance for example, and see what kind of cover they can offer you.