This can also can be referred to as Buildings & Contents Insurance usually this is a combined policy of the two. However, you can also purchase these separately depending on your circumstances.
Your mortgage lender will insist you have buildings insurance in place because as soon as you exchange contracts on a property, at that point you are then legally responsible for the building and the lender wants to make sure that their investment is protected.
Even if you own your home outright, buildings insurance protects the money invested in your home, it would be reckless to have the wrong building insurance policy or coverage amount.
When considering buildings and contents insurance generally, the floor, roof, windows and walls of your property are covered by buildings insurance and the items like furniture, appliances and decorative items are covered by contents insurance.
Some parts of your property can be hard to define into which area they are categorised. There are many policies out there that will not include certain items under the “buildings” section that others will, why not speak to one of our advisers to help you with these questions.
Not sure what the value of your building insurance should cover? Or how much contents cover do you require? Talk to one of our specialists today to talk over your requirements.
What is Buildings Insurance?
Building Insurance covers the physical building and structure of your house from the bricks and mortar to the permanent fixtures or fittings (these can include doors and even the kitchen sink)
Your Mortgage lender will require that you have building insurance, because as soon as you exchange contracts, you are then legally responsible for the building, even if you own your home outright it would be sensible to protect your investment, should anything happen.
Many insurers will be able to provide additional cover to include things like; outbuildings, gardens, swimming pools, ponds and patios, accidental damage, and even alternative accommodation during repair work.
As with all insurances, there are many different levels of cover depending on the complexity of the policy you are purchasing, we will aim to quote you with the best level of cover that you can afford, talk to us today to discuss your requirements.
What is Contents Insurance?
These policies are designed to cover the cost to replace your contents, in the event of fire, theft, storms, floods, subsidence and water leaks, this can be purchased separately or usually combine with building cover.
Contents insurance is not a legal requirement but; Homeowners, Renters, Lodgers, Students, Flat Sharers will all benefit from having some level of content cover.
What does Content Insurance Cover?
In fact, an item is covered if it’s something you would bring with you when moving home, including carpets and light fittings. Items commonly listed under a contents policy include; Gadgets, electrical items, money and financial documents, furniture, clothing to white goods.
However, most policies will have a limit to what they will cover for expensive items such as; Bikes, computers, high-end hi-fis, jewellery, art collections, designer bags. Not to say that you can cover these items within your policy but more information will be required by the insurer.
Confused with what you might need? feel free to contact us today to discuss your requirements.