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Building & Contents Insurance

Insurance for Home and Contents

A minimum requirement to allow the completion of any mortgage is buildings insurance. However, if you have contents it is wise to insure them too. As with any type of insurance there is a wide variety of cover and prices available. The old saying is that if you buy cheap you may pay dear! We would always place the quality of cover, service, and claims reputation of any insurer ahead of just price alone. If it is cheap there will usually be a reason. Saving a few pounds a month may prove very expensive if you do not have the right cover, and could be regarded as extreme folly given the value of the asset you will be insuring.

Types of home insurance

This can be divided between standard cover for your own residence, or landlords insurance for let properties. There are key differences to both, as some aspects of cover are required in landlords insurance that are not needed in normal cover, and vice versa.

Optional extras that can be included

Accidental damage cover adds extra peace of mind should you have an accident such as knocking over a can of paint etc. Other options include home emergency cover and legal expenses cover. You can also specify high value items that might not otherwise be covered, and can opt to cover personal possessions while away from home. New for old cover is preferable to just indemnity based cover.

The policy excess & no claims discount

The policy excess is the amount you are required to pay in the event of a claim. This may typically be the first £100, but it can be more or less than this, and the higher the excess the cheaper the insurance. If you have held insurance for at least 5 years without a claim, this will also reduce the cost.

 

What can stop an insurer paying out?

The answers to the questions on your application form the basis of your contract. If anything is answered incorrectly the insurer may not pay out.

An example might be that you didn’t notice a box has been pre ticked in your online application saying that your home is permanently occupied through the day. In this example your insurance may have been much cheaper, and that would have been one of the reasons.

Home and contents insurance is quite complex, therefore we would recommend that you come to us for advice on the best product for your needs.

For insurance protection we offer products from a wide range of providers

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