subject: Importance Of Building And Contents Insurance [print this page] No matter which part of the UK you live in you would be unwise if you did not take out adequate building and contents insurance. Though we never like to imagine the worst, it is important to protect your home and belongings against a range of untoward situations. Building insurance and contents insurance are actually two different types of policies but usually they are sold by the same insurance companies.
Building insurance is a policy that covers the physical structure of your home. This does not just include the bricks and mortar; it also covers the cost of damage to permanent fixtures and fittings such as your toilet, bathtub, and kitchen units.
There are some policies that may also include external features, for example garden fences, boundary walls, and even your greenhouse. Before signing up for any policy make sure you are clear on exactly what it will cover, you would not want to think that you are financially protected against loss only to make a claim and find out the opposite is actually true.
Understand that if you are a tenant in a property then you should not need to think about building insurance, this is a consideration for the owner of the property to decide upon. The circumstances in which an insurer would pay out for damage caused to the physical structure of a building are not always the same. Usually you would be protected against losses incurred due to a fire, flood, and vandalism. Be aware though that if the problem is due to your own negligence or DIY efforts that you may have problems receiving a payout.
A contents insurance policy will cover your personal belongings that are kept inside of the home. This can include such items as your electrical equipment, kitchen appliances, jewellery, clothing, books, computers, and more. As with building insurance they would be protected against loss or damage caused by fire and flood but also theft. Understand that there is usually a maximum limit to what the insurer would pay out should a situation arise in which you make a claim.
To correctly calculate the value of your possessions go from room to room and compile a list of what you own. Then sit down and tally up their worth. Do not be tempted to overestimate as you may face a problem further on down the line if you were to be found out. There are some contents insurance policies that would also cover the cost of stolen or damaged possessions if the problem occurred when travelling with them on vacation. It may also be possible to include insurance against accidents; this would be useful if you have young children or lively pets.
You can reduce the overall cost of contents insurance by maintaining adequate home security. An intruder alarm and fire alarm would be seen in a positive light by most insurance agents.
To find a good deal today the best strategy would be to go online and compare the various options. This would help reduce the overall effort and time needed.
by: Lance Thorington
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