Things to look for in your home insurance policy

When you buy home insurance do you read all the small print? The answer is probably no and you're not unusual in not doing so. But this may mean that we are paying for things we don't want and missing out on things we do. There are some key things that we should look out for when choosing a policy.

Firstly, is the price. We don't want to pay more than we can afford and more than we feel necessary. Two thirds of us shop around for insurance and 45% of us check at least three different providers to find the best deal.

Secondly, we tend to value the no-claims bonus rather highly. This is not surprising as it can be worth up to 75% with some insurers after around five years of continued partnership.

Finally, we tend to look at how much excess we can or have to pay. This can be adjusted slightly to suit your needs. There is always a minimum and maximum but depending on preference towards a high premium to low excess ratio or vice versa, you can up or down your excess depending on your personal requirements.

But what else should you look for? The finer points of your contents insurance need special attention. Check to see if garden furniture is covered, if so up to what value? Kwik Fit Insurance for example insure your garden contents for up to £500*.

Do you cycle? Will your bike be insured on your home insurance policy? Or should you take out separate insurance? Many policies will only insure your push bike whilst it's on your premises, however, other insurers will cover your bike and other goods listed on your contents insurance such as mp3 players and even your luggage whilst you're on holiday as part and parcel of your home contents insurance. If you have a lot of valuable 'stuff' then this is worth investigating further.

Check whether your buildings insurance covers the garage and the garden shed. Some don't so it's worth asking. But remember you'll need to make sure your buildings sum includes the rebuilding of these additional structures.

If you have a well-maintained property with numerous safety measures fitted from burglar alarms to security lights inform your potential insurer and ask what kind of discount is available for these measures. Remember this is your policy for your needs and most of the time you won't need to make a claim.

*Take a look at the Kwik Fit Insurance website for more information on this, and to obtain a contents insurance quote.