Home & Landlords Insurance - Things happen you can't control
Buildings
Buildings
Buildings
Buildings Insurance covers the physical structure of your house, such as walls, roofs, ceilings, doors, as well as permanent fixtures and fittings (kitchens, bathrooms etc.) - it may also cover damage to things such as conservatories, sheds or garages linked to or on your property.
Depending on the policy, Building Insurance provides cover against damage by things such as fire, flood, lightning, explosion, earthquake, theft or attempted theft, riots, vandalism, storms, subsidence, falling trees, moving objects (for example, a car hitting your house) or water/oil leaks.
If you have a mortgage, your lender will normally insist that your property (and their security) is protected by buildings insurance. This is to safeguard their investment in your property.
A comprehensive Buildings Insurance policy should cover the full cost of repair/rebuild in the event of the following:
- Damage to buildings - Including but not limited to storm, flood, fire, smoke, earthquake
- Alternate accommodation - In the event your property becomes inhabitable due any of the claim criteria
- Home emergency cover - To provide assistance in the event of burst pipes etc.
- Escape of water or leakage of oil - Burst pipes etc.
- Accidental damage - To provide cover against accidental breakage or damage to your home (windows, fixed units etc.)
Contents
Buildings
Buildings
What does it cover?
It covers the loss of or damage to the contents of your home, this includes household goods and personal belongings. Some policies cover you for items you take outside of the home, for example cameras, jewellery and other personal effects. Different policies offer different levels of cover but generally you'll be covered against loss or damage from causes such as fire, storm, flood or theft and have the option to insure against accidental damage.
Keeping costs down
Many insurers will offer discounts if you have a burglar alarm, window locks or if you're a member of a Neighbourhood Watch scheme. You may also get a deal if you combine contents and buildings insurance.
Most policies have a standard excess charge which means you agree to pay the first part of any claim, for example the first £50 or £100. If you agree to pay a higher excess, the policy cost is likely to be lower.
Always compare what's covered by a policy, not just the price – the key policy information will help you do this. Some might be cheaper than others, but they may not offer the same level of protection.
Additional benefits on a contents policy can include:
- Accidental Damage Cover
- Credit Card Misuse
- Door lock replacement
- Money
- Theft or attempted theft from your garage or outbuildings
- Your legal liability as a home occupier for injury to others or damage to their property
Landlords
Buildings
Landlords
As a landlord, your rental property can be a great asset. But if your unprepared or just plain unlucky, it can also quite quickly become a financial burden.
Landlords Insurance can provide cover for your investment against the following:
- Loss or damage - Caused by fire, flood, leaking oil or fallen trees
- Accidental or malicious damage - Caused by tenants
- Theft
- Unpaid rent
- Legal disputes - To pursue or defend claims involving a breach of your tenancy agreement
- Alternate accommodation for your tenant - If the property is made uninhabitable due to an insured event
- Home emergency cover
In addition, multiple properties can also often be covered under one policy with a discount applied based on your portfolio size.