Protecting Your Home

Protecting your home is a very important type of insurance. It is divided into "Building Insurance" and "Contents Insurance". Your property is one of the most valuable assets that you have and protecting it from the unforeseen can provide you with valuable peace of mind. 

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.


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. 

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. Some of the better policies will protect these items worldwide.

Are you underinsured?

This is where the level of cover selected is less than the value of all the items. For example, a person with £100,000 of household contents may only have £50,000 of contents insurance. If they were to make a claim for £10,000, the insurance company may only pay £5,000 of the claim, as they were 50% underinsured. It is very important to have sufficient cover.

Other types of insurance

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Motor Insurance
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Life Assurance
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Critical Illness Cover
Authorised and regulated by the Financial Conduct Authority.