Homeowners Insurance Coverages Explained
Home insurance is beneficial as it protects both your property and what's inside it, depending whether it is contents insurance, buildings insurance or both.
Am I in need of home insurance?
What is contents insurance?
All your personal possessions and valuables are covered against loss, theft and accidents in contents insurance.
What is buildings insurance?
All the permanent fittings and fixture such as sanitary ware and fitted kitchen, and the very structure of your home is protected by buildings insurance. In order to get a mortgage, this type of insurance is necessary and you need to have adequate financial protection for your valuable real estate, even if you own the property outright.
Should I buy a joint contents and buildings policy?
This entirely depends on your situation, for ex, what you want from your home insurance and whether you own or rent the property. Buying a joint policy is the most convenient and cost-effective option if you require both contents and buildings insurance.
Rebuild cost, how should I calculate it?
There is always a difference between the rebuild value and market value. You can easily get the information about it from Building Cost Information Service website and with the help of a calculator.
What is an extension?
If the original building has been added with additional floor space, then it is said that the property has been extended, like a conservatory or a single-double storey extension. Basement or cellar conversions, loft conversions and integral garage conversions are not classed as extensions. Get a free home insurance quote to learn more about the extension.
A good state of repair, what is it?
If the property is habitable and in good condition, then it is considered as a good state of repair. All the necessary repairs and maintenance of heating and electrics, doors, windows, chimneys, roofs and walls are being carried out.
Does my home insurance cover me as a student?
A very careful consideration is needed for student insurance as it can be diverse area. In order to cover your needs, your family's home insurance may be extended, but a dedicated student policy is required if you're in halls of residence.
What is a self-contained property?
If a property has been constructed for use as living accommodation, it is considered to be self-constained property. It should have its own kitchen, toilet and bathroom facilities. It should also have its own lockable front door.
What is specialist home insurance?
Specialist home insurance is required when your home is not a standard build i.e a tile roof and brick walls. Insurers consider buildings or property as non-standard if it has thatched roofs or flat roofs.
Cheaper home insurance, how can I make it?
Reduction in your home insurance premium can be done by a number of factors, including increasing your voluntary excess and improving your home security.