We tend to have an instinctive dislike for insurance, as we find ourselves more often than not simply paying premiums to the company every month without seeing any return. However, you can’t take out a mortgage without obtaining buildings insurance, unless you’re in a flat and the landlord already has your property covered. It makes sense, really, to protect your home against fire, flood and subsidence. The mortgage companies certainly think so, as it’s their investment that’s at stake as well as yours.

Your buildings policy may also include fixtures such as fitted kitchens and garages and many also include the garden shed and greenhouse. You’ll have to check what you require in the way of cover and as with everything else these days it pays to shop around and compare home insurance policies from a number of companies. Use a price comparison website as a guide to get you started. Sometimes a policy will include cover that is totally unsuitable for you and there will be others that are of no use to you whatsoever, so you must strike a balance when choosing.

Contents insurance is optional, but it would be foolish not to have it in place. Burglaries come out of the blue and at any time you could come home to find your possessions ransacked. If you are lucky, they may just be damaged, but whatever the case, you’ll want some protection.

‘New for old’ is the normal type of contents policy, though indemnity cover can be had cheaper. This is not so good as it will replace items only with ones of the same age, wherever possible.