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| Home > General Insurance > Home Insurance |
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Protecting your home is a very important type of insurance. It is divided into "Building Insurance" and "Contents Insurance".
Building Insurance
Your property may be the most expensive thing that you have bought. If there is damage to the property, it may be very expensive. It is normally a condition of any mortgage that there is building insurance in place. The amount of cover that is required will be the "rebuild cost", which is normally significantly less that the purchase price, as it does not include the cost of the land. The cover usually includes all structural parts to the property and any inbuilt features, such as kitchen units. For flats, the freeholder will arrange the insurance and it will be charged for through the service charge.
Contents Insurance
This is a valuable cover which is often overlooked. Over time, the amount of possessions you have tends to accumulate. It can be very expensive to replace all of your possessions if there is a fire or they are stolen. If you have any valuable items, you should specify them, as most policies will only cover individual items up to a maximum amount. It is also possible to cover items, even if you take them outside your house.
Accidental Damage Cover
You may also add "accidental damage" cover to your policy, which means that your policy will also pay for any claims for damage that arose through an accident. |
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