Whether you rent or own your home, you need to consider which type of insurance you need.
There are two main types of home insurance to consider – buildings and contents. As the names suggest, buildings insurance protects the property itself, whilst contents insurance covers the furniture, furnishings, appliances, clothing and all your possessions.
If you are renting, it’s your landlord’s responsibility to take out buildings insurance, but you should consider contents insurance to cover your possessions – there are specific policies aimed at renters.
Although the value of properties and their contents will vary, it’s important not to underestimate just how much the contents of your home are worth – technology items alone could easily add up to thousands of pounds. Gadgets such as tablets are small but relatively expensive and can easily be damaged or stolen.
Buildings insurance covers your home from damage by fire, flood, subsidence, storm or vandalism, protecting the structure of the building and fixtures. To get the correct amount of cover, you need to calculate the rebuild cost of your home. The final sum is usually less than the market value of your home because the market value takes additional factors such as the land, location, school catchment area, and supply and demand, into account.
Whatever type of property you live in, even if it’s ‘non-standard’, we can help you find the cover you need. We can also help you get the right cover for all your home contents.
It can be tempting to think that home insurance is one expense that can be avoided but such a decision could prove to be a false economy if the unexpected happened.