It doesn’t matter if you are a singleton that lives in an orderly home with a penchant for the finer things in life, or are part of a frantic family with a house full of toys and noise – if you don’t have house insurance, here’s why it’s time to reconsider.

Fine wines

If you know your Shiraz from your Chardonnay than perhaps you need to take another look at your house insurance policy. According to house insurance companies we are now hoarding 40% more wine in our homes. And that’s not just because of those ‘two for one’ offers at the local supermarket. Many of us now store wine in our cellars as an investment, hobby or even just to keep for an exclusive dinner party or a special occasion.

Those who are really serious about the value of their vino can even invest in temperature control devices to keep it stored in the right environment. But despite this, many are neglecting to value their wine for their house insurance or are underinsuring their collections. Which can be a nasty shock for many a wine aficionado – it’s all very well not crying over spilt milk, but spilt Cabernet Sauvignon?

Children

If you have kids than you will know how necessary your house insurance is. Loveable they may be, your children can be costly. In a recent poll 50% of claims were from damage caused by children. Including:

1. Permanent stains in the carpet and furniture from drink and food – why is it kids love food that’s bright blue or fluorescent orange?
2. Kicking a football can be dangerous – broken windows are a common claim.
3. As above, put that ball down! Smashed ornaments are a common problem.
4. Broken DVD or video players (posting a fizzy drink into the machine doesn’t help!)
5. Jumping up and down on the bed is one way to damage the springs, even if pillow fights are fun.

Generation Gap

As property prices and the high cost of living seem to keep going through the roof, many families are compromising by living under the same one. It’s not unusual for three generations to co-exist under the same roof – apparently there are now over 800,000 households shared by three or more generations. Young people just aren’t leaving home as quickly as they simply can’t afford to get their feet on the property ladder. And retired people are often struggling on their low incomes and still having to pay off a mortgage. Living under the same roof often makes financial sense.

It’s all very well having your grandma under the same roof as her grandson and it might mean you’ll never have to pay for another babysitter ever again, but be warned, having so many family members under the same roof can cause tensions.

And if you have three or more generations of the same family under one roof, than remember secure home insurance is more vital than ever.

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