Protect your home and its contents against damage or theft if the unexpected happens. Home insurance is reassurance.
Your home is your castle, where your hopes and dreams and memories live. Unfortunately, you can’t put a protective cover around it to stop anything bad happening, but you can do your best to make sure that if it does; help is at hand to get you back on your feet.
It’s an unwelcome thought that an unpredictable event like flooding, or a fire, could not only take away your home but set you back financially in such a way that you may never be able to fully recover from.
It’s easy to think “it won’t happen to me”, but what if it did? Could you afford to rebuild your home if something happened to it? Could you afford to replace your belongings if they were damaged or destroyed?
Home insurance provides financial protection in the event of something happening to your property and/or belongings.
Buildings and Contents
You may have also heard it called Buildings and Contents Insurance.
If you want to know the difference between the two, it may help to imagine turning your house upside down and giving it a bit of a shake. Everything that would fall out is contents, everything that would stay put is buildings (with the exception of carpet or laminate flooring which is included in contents).
Buildings Insurance – covers the full cost of rebuilding your home if it’s damaged or destroyed. It essentially covers the structure of your home and any permanent fixtures and fittings inside.
It will almost always be a condition of your mortgage. You may not be able to get a mortgage if you don’t take out buildings insurance.
Buildings insurance covers the cost of repairing damage to the structure of your property (walls, windows, roof, internal walls, wallpaper, ceilings and permanent fixtures and fittings like baths, toilets, and fitted kitchens).
Contents Insurance – covers the cost of replacing or repairing your personal possessions if they are damaged, destroyed or stolen.
It is used to cover your possessions. Taking out cover for your possessions against loss, fire, theft or accidental damage really is a wise choice. If something was to happen to your possessions and they were damaged or destroyed, it could cost a significant amount to replace them.
Useful to know:
Your policy will only last one year at a time and will require renewing. Some providers allow you to auto-renew each year, but they should still contact you to discuss your premium price for the coming year and to ensure that nothing has changed.
Read your policy! Let’s face it, it’s not exactly going to be a riveting read but you really do need to understand your policy, what’s covered and what your responsibilities are.