subject: Home Buildings Insurance Is A Sensitive Issue - Make Sure You Know What You're Doing [print this page] If you were to go out and purchase a new car for 10,000 pounds you would almost certainly want to take out insurance, even if it wasn't required by law. Isn't it bizarre then that people are often willing to spend hundreds of thousands of pounds on a new home, and yet they never give insurance a second thought?
Generally speaking, when you purchase home buildings insurance, the insurance company will usually also offer you contents insurance at a reduced rate, although it should be mentioned that the two types of cover can be purchases separately. For example, those who rent a property will only require contents insurance, while the landlords are responsible for insuring the actual buildings.
What's Included in Buildings Insurance?
This type of cover protects you against loss resulting from damage to the actual building itself. In other words, if the building itself gets damaged or destroyed because of a flood or a fire for example, the insurance company would cover the cost of repairs or replacement. Such cover also includes outbuildings and perimeter walls. In fact, anything which is considered 'fixed' falls under this type of cover, and that includes the likes of fitted kitchens etc. Obviously, things such as roof tiles and flooring are also covered, and just as well considering how much they can cost if you ever need to replace them.
What's Included in Contents Cover?
Contents cover is just as the name implies. In other words it covers all the contents within your home. With that said, there are often certain clauses which exclude certain items, so of course if you have any concerns then you should discuss them with your agent. Some insurance companies may also refuse to cover you unless you've take certain precautions in order to minimise the chances of been broken into.
Even if they are willing to provide you with cover under such circumstances, you'll inevitably pay more. Some insurance provider may also exclude things such as jewellery, or fine art in which case you'll need to purchase additional cover.
How Do You Keep The Cost Of Insurance Down?
There are several things you can do in order to keep the cost down. For example, make sure your home is fitted with a good quality burglar alarm system. Make sure you have bars on all the windows, security lights in place, and preferably even CCTV.
You should also have a fire alarm installed, together with smoke detectors, as these measures help to ensure your home won't be destroyed by a fire. Some home owners have even gone as far as having a sprinkler system installed. In fact, most local fire services in the UK will gladly carry out a fire risk inspection, and this is something else which may well benefit you in terms of possible discounts.
Last but not least, never rush into anything blindly, particularly when dealing with the subject of buildings insurance. After all, when it comes to your home, it's valuable enough to demand your full attention.
by: Tom Jones
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