Personal Loans : Secured Loans : Mortgages : Insurance

Home Insurance

Buildings Insurance covers the actual structure of your building in the event of damage such as storm, flood, lightning strike, subsidence or fire. It will often often cover 'outbuildings' as well, like sheds or greenhouses, although you should check the policy. It is not a legal requirement to have buildings insurance but most lenders do make it a condition of your mortgage. You can also add cover for accidental damage, which covers things like broken windows. Your policy will not usually cover things as broken fences and will certainly not cover things that have have been affected through neglect. If you rent your home, you won't usually need buildings insurance.

Contents Insurance covers your possessions in the home. You are not required to have it but as a vast amount can be spent on the contents of your home could end up saving you a lot of money. Often you can include in your cover such things as garden equipment or money you may have left in your home. If you have an item that is particularly valuable, then you can insure these items seperately. You don’t have to use the same insurer for such items if do not wish. It is worth checking all routes to see what makes sense for you in terms of cost and cover offered. Accidents, like spilling paint on your carpet, are not going to be covered unless you take accidental damage cover as an extra option.