Why home insurance is important…

While it is hoped you’ll never have to call on insurance, you will be relieved it is in place if you do. You will likely have some form of insurance for your home, as most mortgage lenders insist on it, however you must find the option that is best for you.

Your budget will dictate the sort of policy you can afford, but you must also consider the level of protection you need.

What cover is available for homeowners?

When it comes to cover for your home, the main options are:

  • Buildings only insurance
  • Contents only cover
  • Combined buildings and contents insurance, most commonly known as home insurance

What does buildings insurance cover?

It is no surprise that buildings insurance covers your property’s bricks and mortar. Each policy is likely to be unique, so check what is covered before agreeing to the deal, but building insurance offers protection from the following issues:
  • Collapse of aerials or satellite dishes
  • Collision by vehicles or animals
  • Falling trees
  • Fire, smoke and explosions
  • Flood and escape of water
  • Malicious persons and rioting
  • Natural disasters like earthquakes
  • Storms and lightning
  • Subsidence – although this is only covered by some policies

Some buildings insurance policies will also cover elements such as sheds or garages, and you might find permanent features such as bathroom suites or kitchens covered by the policy. Again though, check the items you need to be protected are included in your policy.

What does contents insurance cover?

Contents insurance offers protection for items in your property that aren’t part of the structure. Contents insurance should protect things such as mirrors, beds, TVs and similar items. Many contents insurance policies protect against the following forms of damage:

  • Falling trees
  • Fire, smoke and explosions
  • Flood
  • Leaks
  • Natural disasters
  • Storms and lightning
  • Theft and attempted theft
  • Vandalism

You should note this style of insurance doesn’t offer protection against general wear and tear. Also, most policies require additional insurance to provide cover for accidental damage.

What is home insurance?

Home insurance combines buildings and contents insurance, so the policy should include the aspects listed above. Many households find the financial saving of this policy style to be helpful, but there are also administrative benefits to holding home insurance.

With one policy, there is only one renewal date to remember and less paperwork. This should make managing your home’s cover a more straightforward process.

Related News

The wait is over!

The wait is over!

THE WAIT IS OVER 😃 The Northern Ireland housing market will be OPEN from Monday 15th June! 🔑 So...

read more