Home emergency insurance exists because although you may like to think that your home is your castle, unfortunately bad luck is no respecter of such sentiment.

Misfortune may strike the core components of your property at any time, meaning that you not only have to deal with the trauma but also potentially with some very large emergency repair bills.

Home emergencies

Unless you have been exceptionally lucky, if you’ve owned a property for any extended period of time you may well have experienced what some may call ‘a domestic disaster’. Typically these strike without warning and may include things such as:

• water systems that suddenly decide to start leaking;
• drains that break or block (within the boundaries of your property) leading to all sorts of unpleasant consequences ;
• a failure of the mains electricity system (within your home);
• the failure of a security component such as a deadlock on a door;
• lost keys meaning that you cannot enter or secure the property;
• the loss of the main heating system;
• sudden pest infestations (e.g. wasps).

Any of these situations may arise and make your home either temporarily uninhabitable or put it at risk of becoming so. In some cases the crisis may result in serious damage to your property if not speedily dealt with.

Home emergencies – the response

If you suffer a crisis of the above types, your first logical reaction may be to take urgent steps to remedy the problem short-term so as to protect your home from more extensive damage.

It is at this point that home emergency insurance comes into play because one thing you will not want to be worried about at such a time is just how you’ll afford the callout and labour costs of the emergency repairperson.

Providing the terms of the policy are met, home emergency insurance works to remove this worry from you. It will typically pay for the emergency repairs and activities necessary to deal with the problem to the extent that it no longer constitutes an immediate danger or reason why your home should be uninhabitable.

Calling out people to perform emergency repairs and other services in the event of a crisis may prove to be very expensive indeed. Through this type of insurance you may be able to relax more secure in the knowledge that such costs would be covered.

Home emergency insurance – the principles

You can take out this type of insurance to protect your property against a specific range of conditions and risks. Typically you will be able choose between various forms of the cover at different costs that will cover different combinations of potential risk.

This form of policy is not buildings and contents cover. It exists to provide financial protection against the costs associated with the urgent and possible temporary resolution of crisis related problems. It does not exist to provide full repair and restoration insurance cover for things such as damaged property.

Specifically, these types of policies typically will not cover situations such as:

• rented property where you are a tenant;
• property rented out where you are a landlord;
• repair and replacement of defective parts apart from where minimum urgent repairs are involved.

Other conditions may apply and it is typically highly advisable to read the policy conditions carefully.

Home emergency insurance could make the difference between a domestic crisis being a trauma or a trauma and major financial disaster. Finding out more may be a good idea.

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