Non-standard home insurance is, simply put, a catchall term for all home insurance which addresses unusual risks, from the fire risk of a thatched roof through past criminal convictions to subsidence, flood risk, or dwellings that go for long periods of time uninhabited. Each of these can affect the risk carried by the insurer, and so each one will affect the premium and policy as a whole. However, in other respects these home insurance policies will heavily resemble all other home insurance – and one of the key points arising from that is that, just as with other home insurance, you have to be careful.
When comparing non-standard home insurance policies online, it’s important to remember that there’s no one ‘best’ policy; what’s important is to consider them all and find the one that gives you the right price on the right coverage – for your home and your circumstances. Always take the time needed to be sure you understand what your chosen policy involves and that you’re happy with it.
The best way to answer, 'What is home insurance?’, is to explain what happens if you don’t have it, or you have a policy that doesn’t cover all the things that could go wrong.
You will sometimes see home insurance referred to as ‘house insurance’. In fact, storms, fires, floods, broken pipes and other incidents can affect any building you live in. Whether that is a:
From roof damage caused by high winds, down to subsidence issues with your foundations or walls, your home can suffer significant problems. Without home insurance, you would face substantial costs for repairing or rebuilding your property.
Also, the same issues, as well as burglaries or incidents of accidental damage, can result in you having to replace expensive equipment, such as furniture or personal belongings you keep within your property.
For this reason, home insurance usually includes two essential elements:
Many homeowners buy policies that include both (combined home insurance), but you can separate them if you need to. You could even have buildings and content insurance with separate providers.
Let’s look at what these two types of home insurance cover in more detail, and when you may only need contents cover.
