Why it’s sensible to review your home insurance this new year

After the busy festive period, when you’ve likely bought new gifts or upgraded household items, the new year is an ideal time to review and update your home and contents insurance policy.

Here’s a comprehensive guide to ensure you start the year fully protected.

 

1_Review the sum of your home insurance cover

With the addition of new gifts, electronics, and household items, the total value of your possessions may have increased. Take time to review your home insurance policy to ensure the sum insured reflects the new value of your home and its contents. Underinsuring could leave you financially vulnerable if you need to make a claim.

If you've received or gifted valuable items such as jewellery, electronics, or furniture to those who live with you, ensure they are included in your policy. Many insurance policies automatically cover items like electronics and high-end gifts up to a particular value. However, for anything above this threshold, you may need to list them specifically or adjust your home insurance coverage.

 

2_Add new items to your policy

Christmas often brings new laptops, smartphones, watches, or household items into our homes. Updating your contents insurance policy to include these new items is crucial. You can alert your insurer straight away and don't have to wait for the policy renewal period. Bear in mind that high-value items such as jewellery, art, or collectables may require a separate listing or additional cover.

 

3_Ensure you’re covered if items leave the house

If you received gifts over the festive season, check whether your home insurance policy covers them if they leave the house.

Consider opting for all risks worldwide cover for items like smartphones, tablets, or jewellery if they’re frequently taken outside the home. Ask your insurer about options for covering valuable gifts while on holiday or when travelling.

 

4_Document and photograph new items

Documenting your new purchases is essential for insurance claims. Take clear photos of new items alongside receipts or serial numbers. Many insurers now provide apps or online portals where you can upload this information directly to your policy.

Store receipts for all high-value items and record serial numbers where possible. These documents can be invaluable if you need to prove ownership or value in the event of a claim.

 

5_Review policy renewal terms

The holiday season often stretches family budgets. Use this time to assess whether your insurance premiums align with your finances and whether your policy still meets your needs. Be aware that increasing your coverage for new items may lead to higher premiums.

If your premiums have increased significantly or you’re dissatisfied with your provider, talk to your insurance broker to compare quotes. Talk to our team of specialists if you'd value a second, independent opinion.

 

6_Set a reminder for regular annual reviews

Get into the habit of reviewing your home and contents insurance annually, particularly after major life events like a home move, marriage, or receiving valuable gifts. Regular reviews ensure your policy remains accurate and that you’re not underinsured in case of an unexpected event.

 

Start 2025 fully protected

By taking the time to update your insurance after the busy festive season, you can ensure your home and valuables are properly protected for the year ahead. Whether adjusting your coverage, adding new items, or reviewing your policy terms, these small steps can bring peace of mind in 2025.

Contact one of the friendly team at Fidentia for an informal chat and more information via tel:+44 20 3150 0080 or by emailing info@fidentiains.com