UK Home Insurance – The Types of Home Insurance Available


Individuals that are in need of home insurance cover have many options that are available. Owners of a home have two types of insurance that are available to insure their home. There is also additional cover available that can be added to an existing policy. You will need to review insurance options if a home is in need of cover to protect against financial loss.

Buildings Insurance

This type of cover is necessary to rebuild a building or the home on your property. This is not the same as market value because the rebuild costs are often much higher. This is due to the cost of the materials that will be used for reconstruction. You will need an evaluation of the rebuilding costs for your property if there is a need for this type of cover. This cover is typically required by mortgage lenders to ensure security for their loan. Some policies may only cover your home’s market value, but most will cover any rebuilding costs form various events These include damage from floods and storms, burst water pipes, from a fire, subsidence, and vandalism. Buildings insurance will also provide accommodation if you home cannot be lived in until repairs are complete.

Contents Insurance

This is cover that protects the contents of your home or a building. This includes possessions, such as a piece of furniture, electronics, appliances, and other items that are not part of the home’s structure. This is needed to ensure that you do not suffer financial loss is valuables in the home are destroyed. Damage can result from smoke, fire, lightning, earthquakes, theft, floods, storms, subsidence, and breakage of a water heating fixture Accidental damage cover may be added if it is not already included in the policy for your home. This will cover damage from accidents that result from home improvement projects.

Buildings and Contents Insurance

Home owners will typically need both of these policies to guard against financial loss. You can take out both policies from the same insurance provider and often receive a discount. This is a percentage off of the costs that are paid for each insurance policy.

Personal Possessions Cover

This is cover that you are able to purchase to protect valuable personal items. This will include jewellery, some types of electrical equipment, credit cards, and even money. Electrical equipment will usually be portable devices, such as a mobile phone and music player. Personal possessions cover is added to the contents cover for your home. This protection is provided for loss and theft or personal items and accidental breakage. Cover is also provided for many personal items that you take on holiday. A maximum about for all items will apply for all possessions in the home.

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