Types of Home Insurance Cover
Whether you are already familiar with the product, or are only just thinking about getting something in place, home insurance cover is a broad topic which comes in various different levels and which is seen as essential by many households.
Even somebody who has held a policy for years could save money by following a few simple tips, while those just starting out and getting a deal may want to look into some of the options available to them.
The two normal types of home insurance cover, buildings insurance and contents insurance, cover the actual structure and fixtures and fittings of a building, and general everyday valuables and contents respectively.
Both operate a top limit, often referred to as the sum insured, and which in the case of buildings insurance may actually cover the full cost of rebuilding the home following something like a fire.
In the case of contents cover, the sum insured applies to the total amount of all the valuables in the house, which again applies if somebody loses everything, perhaps in a major burglary or fire.
Home cover also normally involves an excess, which people have to meet on a claim, although this may be as low as £50 to £100.
For anyone not totally sure, an excess is an initial sum somebody agrees to pay towards a payout before the insurance cover kicks in in full.
For example, somebody who suffered a fire in their kitchen which lead to £800 in damage, who had a £100 excess, would have to cover the first £100 of repairs themselves, before the insurance company paid the rest.
Buildings insurance normally protects against things like flood, fire, and subsidence, plus damage caused to a home by theft or attempted theft, vandalism and storm damage.
You can normally get protection for accidental damage caused by plumbing problems, for example if a pipe is burst and floods the kitchen.
One common exclusion is that a policy will not pay out for damage caused by home improvements which are attempted by yourself, as opposed to an approved tradesman.
Contents cover applies to the flood, fire, and theft damage of valuables like TVs, jewellery, clothing, furniture, and all the other things belonging to you in the house, typically applying to anything you would take with you if you moved.
Theft is also covered against.
Some policies protect against accidental damage, meaning for example, you would get a payout if you dropped a heavy item on a computer monitor and broke it.
But other deals will not include this as standard, and if you are unsure could be worth checking carefully.
Other extras on this kind of cover include the possibility of higher cover levels at Christmas time to cover the additional value of gifts which may be kept in the house, and some insurance companies also provide extra provision for people who have just been married, for the same reason.
You can also enquire about accidental damage and theft cover for things often taken out of the house, like digital cameras, for example.
Home insurance cover can also be bought for a relatively low cost - a wide number of providers means competition for your cash is strong and you are likely to be able to get an affordable deal, whatever the size of your home and whatever is in it.
Even somebody who has held a policy for years could save money by following a few simple tips, while those just starting out and getting a deal may want to look into some of the options available to them.
The two normal types of home insurance cover, buildings insurance and contents insurance, cover the actual structure and fixtures and fittings of a building, and general everyday valuables and contents respectively.
Both operate a top limit, often referred to as the sum insured, and which in the case of buildings insurance may actually cover the full cost of rebuilding the home following something like a fire.
In the case of contents cover, the sum insured applies to the total amount of all the valuables in the house, which again applies if somebody loses everything, perhaps in a major burglary or fire.
Home cover also normally involves an excess, which people have to meet on a claim, although this may be as low as £50 to £100.
For anyone not totally sure, an excess is an initial sum somebody agrees to pay towards a payout before the insurance cover kicks in in full.
For example, somebody who suffered a fire in their kitchen which lead to £800 in damage, who had a £100 excess, would have to cover the first £100 of repairs themselves, before the insurance company paid the rest.
Buildings insurance normally protects against things like flood, fire, and subsidence, plus damage caused to a home by theft or attempted theft, vandalism and storm damage.
You can normally get protection for accidental damage caused by plumbing problems, for example if a pipe is burst and floods the kitchen.
One common exclusion is that a policy will not pay out for damage caused by home improvements which are attempted by yourself, as opposed to an approved tradesman.
Contents cover applies to the flood, fire, and theft damage of valuables like TVs, jewellery, clothing, furniture, and all the other things belonging to you in the house, typically applying to anything you would take with you if you moved.
Theft is also covered against.
Some policies protect against accidental damage, meaning for example, you would get a payout if you dropped a heavy item on a computer monitor and broke it.
But other deals will not include this as standard, and if you are unsure could be worth checking carefully.
Other extras on this kind of cover include the possibility of higher cover levels at Christmas time to cover the additional value of gifts which may be kept in the house, and some insurance companies also provide extra provision for people who have just been married, for the same reason.
You can also enquire about accidental damage and theft cover for things often taken out of the house, like digital cameras, for example.
Home insurance cover can also be bought for a relatively low cost - a wide number of providers means competition for your cash is strong and you are likely to be able to get an affordable deal, whatever the size of your home and whatever is in it.
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