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Home Insurance

We recently had a major break-in at our house and found that our insurance did not cover the full value of our losses and the damage the thieves did. The insurance company said we were underinsured, but it did not provide any guidance on calculating how much to insure for in the first place. How can we avoid this in the future?

Unfortunately yours is a common problem as many insurers are happy to take policyholders' premiums (payments) without offering help and advice.

However there are insurance brokers who can provide tailor-made policies and whose advisers will make a full assessment of your needs.

These policies can cover your home, contents, holiday home and cars all in one premium. You are likely to find that they are not much more expensive than your existing cover.

Sometimes, if you agree to increase your excess, the premium level can be kept down to a competitive level.

Such brokers can arrange specialist insurances with insurance market Lloyd's of London.

I recommend getting a quote from one of these brokers for cover tailored to your needs. If you have just renewed your policies, switching should be possible.

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