Building and Contents Insurance
Building and contents insurance is really home insurance. The idea behind it is to offer an insurance that helps protect the loss or damage to your house or the contents inside.
If your house is mortgaged it is essential you have buildings insurance. Without buildings insurance should your house burn down you would still be left to pay the mortgage repayments on your property and also it is a requirement of the lender.
As for insuring the contents in your home, content insurance will cover such items as furniture, jewellery, appliances and clothing. The items you take out of the house are also often covered or can be covered so if you suffer loss or damage whilst not at home you may find your insurance covers this event.
Building and Contents insurance and exactly what is and isn't covered is laid out in the policy document you should receive when you take out the insurance.
It isn't possible in this short article to cover this subject in full. However there are a few tips that are useful to know. Firstly try to keep an accurate record of all the items you believe are insured. A photo record is good. Make sure you house meets safety standards and that it is properly secured. Always give truthful and complete information when applying for house and/or buildings insurance as misinformation may invalidate you claim.
And finally beware that claiming may increase the cost of your policy when it renews. So you will need to balance up the increased cost against the insurance pay-out.
Understanding buildings and content insurance can be complicated, that's why we're here to help you with it. Get in touch and we'll be only too willing to help.
For Buildings and Contents insurance we act as introducers only.
