|
Protect your biggest asset with a home insurance policy
It is normally a stipulation of mortgage companies that we have to take out buildings insurance to qualify for a mortgage; after all they would be putting themselves at a huge risk if the house burnt down or flooded and insurance wasn’t in place to pay for repairs or rebuild. However, according to recent research conducted by Abbey, one in 10 Britons does not have any contents insurance. This means that if their thousands of pounds worth of clothes, cd’s, TV’s stereos and white goods were to go up in smoke or get stolen they wouldn’t be able to get a penny back as they are not insured.
It seems that as insurance is a grudge purchase, we feel that we have to have it rather than we want it, many of us let it slip the net and only worry when it’s too late! So before you face the bill for thousands of pounds make sure your buildings and contents insurance fully protect you. What types of home insurance cover are available? | | Buildings insurance - This insures the structure of your home and its fixtures and fittings such as outbuildings and garages against a list of perils that each insurance company specifies. Generally this includes such things as, lightening, fire, flood, theft, vandalism etc. The insurance policy covers the cost of rebuilding your home, or any part of it, in the event of such an occurrence.
Contents insurance – home contents insurance provides cover for all the contents and personal possessions you have within your home. This can include furniture, carpets, clothes, white goods, computers etc. Again this provides protection against listed perils, some of which are noted above and items are normally replaced on a new for old basis.
Buildings and contents insurance – if you need both buildings and contents insurance you can normally benefit from substantial discounts if you take out both policies with one insurer.
Accidental damage cover - many insurers offer you the option to take out accidental damage cover, at an extra premium of course, to cover you against things that you accidentally drop, damage, scratch or break. This type of cover is generally an add on to standard home buildings and/or contents insurance. |
Where can you get home insurance from?
House insurance is the 2nd most popular form of insurance taken out by U.K consumers, with 68% of us having some form of home insurance. Insurers want to satisfy that demand. This simply means that there are loads of house insurance companies out there! Many of them transact business on the internet, via the telephone or through a broker. |
|
|
