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Do you own a home? Click here to get a
home insurance policy to protect your mortgage and family.
 home building and contents insurance |
HOME BUILDING AND CONTENTS INSURANCE
Home insurance is quite a serious cost when it comes down to it. It
tends to be in the hundreds in terms of amounts. But these amounts
vary, depending on the rebuilding costs of your home and it's
location, and the possessions that you keep. It also depends on how
well you search the market and work hard to find the best available
quote for you.
There are two types of home insurance. They are buildings insurance
and contents insurance (tenants insurance is a subset of contents
insurance)
The first to talk about is buildings insurance, which is compulsory
for you if you are taking out a mortgage. The lenders require you to
take out buildings insurance so that they can protect their
investment. Should your property burn down or suffer from flooding
or subsistence, you may not be able to live in it anymore, and may
need to rebuild it. The lender will not lend you more money to do so
which means that you need to be insured to cover the event
happening. Buildings insurance covers you for the rebuilding cost of
your home not the market value of the home. This is because the most
you would actually have to spend is the money to rebuild the
property.
Contents insurance covers you for all the bits in your home that you
wouldn't remove if you were moving home. So the structure obviously
doesn't count, and the fixtures and fittings in the home do not
count either. But what is covered are things like clothes,
electrical equipment, Hi-fi, TV etc as well as CDs and even frozen
food. To help yourself, you should make sure that you have a folder
with the receipts for the property that you want covered. Then,
should the contents be stolen, or be in a fire or destroyed in a
flood or in a genuine accident, then you can be covered for them. Be
aware also that sometimes contents insurance will cover some of your
possessions out of the home, and your travel insurance might do that
do, so make sure you are not double insured.
Click Here for FREE Home Insurance Quotes!
When shopping
for home insurance, there’s much more to consider than how much your
coverage will cost.
You need to
buy the right type of policy. You need the proper level of
protection, plus special provisions for valuables such as jewelry,
your computer equipment and other possessions. You might also need
additional coverage for such things as earthquakes or flooding. |
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