Whether you’ve purchased a property to live in, or are letting it, you should think about taking out home insurance. So many people do because it provides them with a safety net in case of an unforeseen situation. And, that’s not the only benefit.

In this blog, we explore the reasons why home insurance should be one of your top priorities…

1. Theft

These days, it’s unlikely that your home doesn’t boast expensive technology. Unfortunately, these lightweight high-cost items are attractive to potential thieves. Even if you don’t own the likes of a laptop, TV or tablet, you’ll probably have a smartphone!

If stolen from your home, you can rest easy knowing that they can be replaced through an appropriate home insurance policy. Plus, any other items can be insured too – for example, jewellery or watches.

2. Natural disaster

There’s a lot in the news about climate change, and you can’t ignore the extremely hot temperatures or hard-hitting storms. And nowhere appears to be safe – from the Lake District and Wales to London and Manchester, we’ve all felt the impact.

The weather has more than wreaked havoc in recent times, and the future doesn’t look any brighter. But, you can be prepared. The right policy will generally cover against financial loss caused by storm damage.

3. Damage

A natural disaster isn’t the only way your home could suffer harm. Accidental damage is common – especially if you have children. You could also be at risk of structural damage, or, in the event of a fire, substantial destruction.

Home insurance will not only provide you with protection in terms of covering repairs, but can also pay for accommodation if you need to move out of your home temporarily during difficult times.

4. Water escaping

From burst pipes to leaking tanks, escape of water is one of the most common home issues. Whilst there are preventative measures you can take, like ensuring your heating is on so pipes don’t freeze, there are still ways leaks can trickle through.

However, if you have home insurance in place, you’ll have peace of mind that if something does happen, your property will be protected.

5. Better mortgage rates

Taking out home insurance can also give you access to better mortgage rates when purchasing a new property, or remortgaging an existing one. Being covered will make you more favourable in the eyes of many lenders.

Home insurance isn’t the only type of insurance that’s beneficial. Depending on your circumstances, life insurance protection might also prove worthwhile. But, there will be a lot of research needed to locate the best deals – unless you use Red Star Financial Services.

We’ll not only quickly find you the appropriate policies, but we also provide tailored support and guidance. And, you can have complete faith in our team – we have over 10 years’ experience, and are FCA-regulated. Simply get in touch with our friendly team to have a chat about your needs.