There's a dizzying array of statistics that spell out the importance of taking out comprehensive home cover - most notably the fact that a third of all Brits will endure a home burglary at some point in their life. On top of that, concerns such as the effects of natural disasters like floods and - yes, it's true - even earthquakes, add yet another worrying dimension to the fray.

Simply lunging for the first home contents and buildings insurance policy you can find, however, is far from an ideal solution. So before you sign on the dotted line it's worth taking a few key considerations on board.

First up, you must check that your insurer is fully informed about your property and everything in it. In order to give you an accurate quote, your provider will need a wide swathe of information ranging from the construction date of your home to the materials used to build it and, of course, the precise value of its contents.

If your circumstances change - for example if you acquire a number of new items, as many of us do over Christmas - you will need to notify your insurer so they can extend their protection afforded by your home contents insurance. One staggering piece of recent research conducted by Abbey found that barely a quarter of all engagement rings are covered on existing home contents policies - meaning thousands of lovebirds run the risk of having their dream wedding turning into a nightmare just for the sake of a few quid on top of their home insurance premiums.

Another crucial reason for opening a dialogue with your insurer is that they will be able to flag up potential problems in your home security which, again, could nullify future claims.

The most obvious way of protecting your home is of course getting a good lock of your front door - with most insurers recommending five-lever mortise locks for doors and two bolt locks for windows. Again, however, terms and conditions vary from provider to provider so to be fully safe you need to check the facts and make sure you pass them on accurately. Above all else, make sure you read all the small-print, as many policies contain some clauses that would catch even the most vigilant of homeowners off-guard.

While most people are aware that leaving windows open can nullify burglary claims, you might not have known that many insurers stipulate that any homeowners who going abroad for over 30 days must make arrangements for someone to regularly check on their property. Fail to do so, and insurers are within their right to chuck your policy out the window - no matter how securely bolted it was.

These considerations barely scratch the surface of the various issues you need to take on board, though, and the only way of being completely safe is reading your policy cover to cover. Are your obliged to install a fire alarm? Will increasing your voluntary excess help? Do you need accidental damage cover? None of these decisions should be made lightly as any one of them could mean the difference between an ameliorating payout and a frosty snub.

The final thing to bear in mind, and perhaps one of the most irritating, is how much you value your no-claims discount. At the end of the day, insurance is really just calculated gambling - and we all know that when it comes to gambling, the house always wins.