Your home is one of the most expensive things that you will ever buy, which makes adequate home insurance cover an important consideration. If your home is damaged or any of your belongings stolen, then repairs or replacing the loss can take time and hassle. No one likes running risks, which is why most people have home insurance cover to protect their property and valuables.

A home is more than just somewhere to live; it's also where we should feel safe. Even if renting a property, you may wish to considering insuring your belongings in case of theft or damage.

Replacing a TV, games and music electronics and everything else you own down to the last knife and fork is expensive.

Many people underestimate the value of their belongings and so often don't bother with home insurance cover, without insurance it would be your responsibility to cough up to replace all of your belongings.

Home insurance cover comes in two types: building and contents insurance.

Building insurance is concerned with the structure of your home, while contents insurance covers your personal belongings inside your home.

Buildings Insurance

If you have a mortgage, the lender may require buildings insurance as a condition of the loan.

If you own your own home but do not have buildings insurance, you should consider taking out cover to protect your home.

Leaseholders do not have to worry about buildings insurance - the freeholder of the property has that responsibility and should include a share of the cost in your service charge.

Buildings insurance protects damage to the structure of your home and many of the permanent fixtures inside.

Policies vary, but standard cover generally protects your property from:
Floods
Fire
Natural disasters - like earthquakes and storms
Subsidence
Vandalism
Damage caused by trees falling on, or their roots undermining, your property


Contents Insurance

It's up to you whether or not you take out contents insurance. Many people appreciate the peace of mind that having insurance gives. The cost of replacing everything that you own could work out as expensive, and insurance is a way to protect your own pocket.

You may only think about your expensive possessions like, however if things like your clothes were destroyed they would need replacement at your own cost if you had no insurance.

Also remember contents insurance policies will have a maximum payout or sum insured. You need to make sure any valuables not included by default in the sum insured are notified to the insurer and covered by the policy

What's covered by contents insurance?

Contents insurance covers furniture, curtains, personal possessions, home electronics, and lots of other possessions - some are included in the basic cover and some are added extras that you have to pay a little more for.

For example, some policies include possessions taken away from the house, like bikes, a purse or wallet, a laptop, and sometimes your belongings when you go on holiday. Other policies may offer this cover at extra cost.

Before taking out home insurance cover, you must read the policy small print to make sure that you are buying the cover you need - it's no good finding out too late that you are not covered when you thought you were.

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