What Is Home Building And Contents Insurance?
Simply put, it's your guarantee of being able to enjoy a good night's rest
. For example, let's say a fire breaks out in your home, and apart from damage caused to the property itself, many of your belongings also end up getting destroyed. Do you have enough spare cash lying about to carry out all the necessary repairs? Are you financially capable of replacing everything you lost?Perhaps your property gets hit by a flood, something which seems to be common in the UK nowadays, or perhaps you loose half your roof tiles because of strong winds. In either of these circumstances, would you be in a position to cover the cost of repairs? Perhaps you'll never be on the receiving end of a disaster, but then again, your home could get broken into, and in addition to making off with your belongings, the thieves also decide to vandalise your home while they're at it. These are all eventualities which are covered by home insurance.
Even though building insurance and contents insurance are two different types of policy, they do however tend to go hand in hand. This is largely because it's cheaper to take out both policies using the same insurance company for both. Let's go ahead and take a quick look at what each type of insurance policy covers.
Building Insurance:
Building insurance covers the actually building itself, together with things such as your garage, your garden shed, and even your greenhouse if you have one. It also covers certain fixtures such as built-in kitchens, baths, built-in cupboards, flooring, and roof tiles. Basically, anything which is considered to be a permanent fixture will be covered with this type of insurance policy.
When taking out this sort of policy, it's imperative to have your home evaluated beforehand. After all, if your property does ever end up getting destroyed, you need to know the insurance will pay you enough money to rebuild the property from scratch.
For this reason, don't be tempted to under-estimate the true value in order to get cheaper insurance. At the same time, don't over-estimate it either. If you do, you'll simply be paying more than you need to, and if you ever claim, the insurance company won't give you any more than what the property is actually worth.
Contents Insurance:
Contents insurance covers all the contents of your home, and this is generally the type of cover people choose if they live in rented accommodation. While the level of cover does vary from one provider to the next, the amount you pay for cover will depend mostly on what you estimate your belongings to be worth.
For this reason, it's extremely important to give the insurance company an accurate figure, bearing in mind that no insurance company will ever be willing to pay more than they have to, irrespective of how much you're paying for your cover. In fact, many people actually take photos of the inside of their homes which show what belongings they have. They can then use these photos if the ever need to claim, and while this may not be a bullet-proof approach, it can sometimes be useful.
Rather than being dishonest in an attempt to keep the cost of cover down, there are several other steps you can take, and at least then you'll know you have home insurance which you can rely on in a time of need.
by: Tom Jones House Insurance - Can You Afford Not To Have It? Do You Really Need Home Insurance? Keeping The Cost Of Home Insurance Down Home Insurance: saving your dream you live in Home Insurance: Protects Our Shelter Home Insurance Policy can do a lot for you in a crunch situation? Get minuet details about home insurance quotes Home Insurance Quotes – For A Secure Tomorrow. Pay today Home Insurance! Its time to protect your Beloved Home Home Insurance Comparison For Getting Better Deals Home and Contents Insurance in BC How to Get Home Insurance in Austin? What to Look for in Homeowners Insurance in Austin?