Home Insurance Deals
As your home is probably the single biggest investment you are ever likely to make, it is very important that you take out the right level of insurance cover to protect it against certain risks. The two main types of home insurance, buildings insurance and contents insurance, can be taken out separately or together, providing for flexible options according to your particular circumstance.
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Buildings insurance is practically compulsory, as mortgage lenders will make it a part of the contract for lending you the money to buy a property. This type of insurance will cover the actual physical structure of the property as well as the parts of its interior that cannot be moved, such as fitted bathrooms and kitchens, windows and doors. All the rest is classed as contents and requires its own separate contents cover.
When comparing home insurance deals UK wide, you will find that buildings insurance protects the structure of your home against events such as fire and flood, subsidence and other natural disasters. It is human nature to think that such disasters are only going to happen to someone else but that of course is not the case. This is especially true if you live on a flood plain, in which case the chances are you will already have seen some of the destruction that can be caused by water inundation. Buildings insurance covers the cost of repairing or rebuilding the property should you be unfortunate enough to experience a house fire or some other major catastrophe.
Contents insurance, the other part of the home insurance equation, is optional, as mortgage lenders are not interested in the fate of your personal possessions and leave it to you to decide whether you cover them or not; but you should give it serious consideration. Unfortunately house burglary is a persistent problem and although damage caused to windows and doors will be covered by the buildings insurance, your stolen property will not be.
When you compare home insurance deals you will find that the cheapest type of contents insurance is indemnity, which will replace lost or stolen items with those of a similar age. The more popular new for old cover will, on the other hand, have them replaced with brand new ones. Contents insurance usually also covers items such as sports equipment, watches, etc, when they are taken outside of the property.
Today’s home insurance policies can be tailored to fit your needs, with optional extras being available to cover all aspects of your home environment and to protect specific elements not already covered by the basic policy.
The buildings insurance and contents insurance will cover the essentials, but there are all sorts of other items that may not be protected. When you compare home insurance deals it is important to check out exactly what is covered and what is not and whether you need all the cover you are thinking of taking out.
Extra cover for risks such as identity theft, accidental damage to property and theft of garden furniture, which may not be included in the basic policy, are available.
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