What is Home Insurance?

Posted on: March 2, 2021

Home Insurance (can also be called Buildings and Contents insurance), as we call it in the industry, is one of the few things in life that you buy, hoping that you will never in fact need to use it.

It provides peace of mind, the knowledge that in the event of an accident, certain acts of God (lightning, earthquakes or a flood for example) or if some disaster were to befall your home, you will be able to fix it.

Something like this can put your life on hold, the financial burden of repairing or even possibly rebuilding your home without insurance would be unimaginable and impossible to bear for most of us. Could you afford to rebuild your house if it were damaged or destroyed?

Having the correct cover is paramount, ensuring that your most important asset – your home and everything in it, is protected from breakage, damage or theft, really can take a weight off your shoulders and allow you to heave a sigh of relief.

So, what’s the difference?

Buildings insurance is the bricks and mortar, the roof, windows and doors – the shell of the house (and some fixtures and fittings including your kitchen and bathroom).

Contents Insurance is just that, the contents of your home. I once heard it explained like this, if you were to tip your home upside down and shake it, what is considered ‘contents’ is everything that would fall out.

Buildings insurance should not be seen as a ‘luxury’ or an ‘add on’ that insurance companies push you to purchase. For the majority of mortgage lenders, it is a compulsory requirement of your mortgage agreement and therefore you are legally obliged to obtain it. Lenders will more often than not, insist that cover is in place before they release funds to you.

It can be organised quickly and simply too. Many Insurance providers no longer need to know what your roof is made of or the type of front door lock you have. So much of the data is now available to them through the land registry and other sources, that they can build up a picture of your home and garden super-fast. 98% of UK postcodes are included so it’s unlikely that they won’t find your property and be able to get all the information required.

We can provide you with a fully comprehensive quote, from a 5* defaqto rated provider click here

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