Understanding Your Home Insurance Policy

Deciphering all of the parts of your home insurance policy can be difficult; It is important to understand the terminology used, therefore a home insurance policy will always include a definitions page in the policy wording which defines and explains the vocabulary used to make it easier to understand.

Home insurance policies will usually follow the same general format: A declarations page, a definitions section and sections for property insurance and liability insurance.

Policy Schedule

When you receive a copy of your policy, it is important to review all of the information for accuracy. Your policy schedule is the part of your insurance policy that provides an overview of the details specific to your policy, such as:

  • The name of the insurer
  • Your policy number
  • Your name and address
  • The premium payable
  • Any specific conditions, changes or endorsements
  • Sums insured

You should retain a copy of the schedule to refer to in case you have any questions or queries concerning your policy. If you change or revise your policy at any time, a new policy schedule will be issued to you reflecting those changes.


It is of particular importance to read and understand any endorsements or exclusions which may be applied to your policy, as these could determine whether or not cover is in force in the event of a claim. For example, your policy could have an endorsement which states that your property has a burglar alarm installed and in working order, however if this is not the case and you were subject to a theft from your home an insurer could refuse to pay your claim.

Property Cover

Buildings: This provides cover as a result of damage to your home and other detached structures at the same address due to a loss such as fire, flood or subsidence to name a few. It does not cover the normal wear and tear of your home or any maintenance related problems. You need to have enough cover for the rebuilding cost of your home, minus any cost of the land or location.

Contents: This provides cover for your contents and personal items in your home such as furniture and clothing. You can also extend this cover to include your personal belongings worldwide by specifying certain items such as jewellery. It is important to create and keep records of your personal belongings for proof of ownership in the event of a claim; these can include receipts and pictures.

If you have any questions or queries regarding your home insurance policy, give our dedicated household team a call on 020 8658 4334.