Protecting your home is just as important as repaying your mortgage. All the work and cost that goes into buying a home, yet one event could take it away from you.
This is where Home Insurance comes in. Buildings Insurance protects the buildings and most of the fixtures within, and Contents Insurance protects your furniture, electrical items and other personal property you keep at the home. Buildings Insurance is often required when you have a mortgage as lenders will usually insist that you have it in place to not only protect yourself, but also to protect their security on which their loan is based. It is rarely recommended that you have Buildings Insurance without Contents Insurance, as the extra cost, especially if both are with the same insurer, is often minimal but the benefits are huge in the event of a loss. There is also the fact that sometimes, especially with regards to fixtures and fittings, these two may have slightly different clauses and could result in a claim not being paid if you have one without another.
Please also remember when considering policies to always ask about the levels of cover to ensure that the values offer you the correct protection. Then there are the important addons such as Accidental Damage Cover, Personal Goods away from the home, Legal Protection and Home Emergency cover to help in the event of breakdowns and leaks. Many of these are included as standard in some policies so please ask about these.
Protecting your home is just as important as repaying your mortgage. All the work and cost that goes into buying a home, yet one event could take it away from you.
This is where Home Insurance comes in. Buildings Insurance protects the buildings and most of the fixtures within, and Contents Insurance protects your furniture, electrical items and other personal property you keep at the home. Buildings Insurance is often required when you have a mortgage as lenders will usually insist that you have it in place to not only protect yourself, but also to protect their security on which their loan is based. It is rarely recommended that you have Buildings Insurance without Contents Insurance, as the extra cost, especially if both are with the same insurer, is often minimal but the benefits are huge in the event of a loss. There is also the fact that sometimes, especially with regards to fixtures and fittings, these two may have slightly different clauses and could result in a claim not being paid if you have one without another.
Please also remember when considering policies to always ask about the levels of cover to ensure that the values offer you the correct protection. Then there are the important addons such as Accidental Damage Cover, Personal Goods away from the home, Legal Protection and Home Emergency cover to help in the event of breakdowns and leaks. Many of these are included as standard in some policies so please ask about these.
Read less
