Britannia

Insurance explained

As your house is usually your biggest asset, your mortgage lender will insist that you have buildings cover at least.

This is because you can never predict what's going to happen and you can usually guarantee that things don't go as smoothly as you'd like.

That's why you need a wide range of insurance products to sort it all out - that way, you can relax and enjoy life knowing that those emergencies will be taken care of.

And don't forget that emergencies can include job loss or illnesses that are just as unexpected as something going wrong with your home.

What to look for from an insurance policy?

Firstly you need to make sure that the policy you're taking out covers all your needs. The other main things to consider are value for money, no hidden catches and wide ranging cover.

It's also comforting to know that you won't have to jump through hoops to make a claim. You need to know that your claim will be dealt with swiftly and efficiently particularly if you've got an emergency on your hands.

Don't forget, cheapest isn't necessarily always the best. Some of the things you may want to consider are:

• is the cover on a 'new for old' replacement basis? Some claims may be reduced for wear and tear due to age
• is there an extra charge for monthly premiums? What may seem like a cheap insurance quote can soon become expensive - take a look at what other insurance companies charge for monthly direct debits
• does the 'standard' policy cover money, credit cards, frozen food and bikes or do you have to pay extra for them?
• what is the overall limit in total for unspecified 'valuable' items?
• is there cover for replacing external door locks due to theft or loss of keys?