Important things to consider when looking at home insurance

12 August 2013 - Which Way To Pay

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Do you own your house? Important things you need to know about home insurance

If you are a homeowner, you should have the peace of mind that your home and contents are protected by insurance in the event that something should happen. If anything should happen to your home, insurance will not be able to take away the upset you are likely to experience, however it will be able to provide you with peace of mind that you will be able to repair or replace items that you might have lost. There are two types of home insurance that you should familiarise yourself with buildings insurance and contents insurance.

What is buildings insurance?

Buildings insurance covers the actual building rather than the contents. So, if your house was destroyed in a flood, the insurance will pay for the rebuild of the house but not the damages to your property. The amount of cover you need is based on the re-build value of your home not what your property is valued at. Ensure that you are picking an accurate sum for your buildings insurance.

What is contents insurance?

Contents cover offers protection against your valuables and possessions should they be stolen or damaged. You should look at your belongings room by room when you are deciding how much contents insurance cover you need it is usually more than you think! Remember items such as iPads, televisions, jewellery, clothing and even pictures. If you have anything of particular value you will need to disclose these to your insurer.

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