Insurance

Part 2

Home Insurance
This type of insurance insures your home - not your home's contents. Basically, if it's your own home, you will be covered for flooding, fire, Acts of God, your roof falling off or any other structural damage.

Possessions Insurance or Contents Insurance
This type of insurance does cover your possessions. So if your flat does get broken into, you will be covered for all the stuff that gets nicked. You will have to tell the insurance company, before anything gets stolen, or what is in your home - computers, HiFi equipment, furniture, TVs and bicycles or whatever. Keep receipts for all that you buy, and if possible, take photos of your prized possessions so that you can show them to the insurance company if there's a problem. Keep your contents insurance updated - if you buy more stuff, let your insurers know and find out to what level you are covered.

Health Insurance
Health Insurance is very important if you want to be taken care of if you fall ill or have an accident. The insurance company will pay all (or some) of your bills, will cover your travel to the nearest hospital and, if you get the dentistry and optical insurance add-ons, will cover you for a new set of glasses or pay your dentist bills if you have toothache.

Extreme Insurance
If you are planning to go skydiving, scuba diving, bungee jumping or abseiling, then you will need to get this insurance. Your normal health insurance scheme will not cover you for dangerous sports, so you need to get this added on to your policy, in case a rock falls on your head, or the bungee cord breaks.