What is homes insurance?
Homes insurance is a form of insurance offered to customers to protect their homes, financially from disaster. Homes insurance provides protection for either the contents, structure or both of a home against fire, theft, storm damage, flooding, vandalism and water damage from within the home.
Home insurance comes in two different parts, contents insurance and buildings insurance. The contents insurance part of a homes insurance policy looks after the contents of a customer’s home, and the buildings insurance part of a homes insurance policy looks after the structure of the customers home.
Why do I need homes insurance?
Since the recession, growing numbers of people have started treating homes insurance as an optional form of insurance, and several have found to their cost it should not be seen as such. The cost of rebuilding a home, as well as providing alternate living accommodation whilst your home is being rebuilt, and then paying for replacement contents for everything that was in your home is huge, and most families would not be able to afford it. Mortgage companies will not suddenly cancel a mortgage, just because a house has been burnt down, and customers will face being in debt for the rest of their lives without homes insurance.
Types of homes insurance – contents cover
The most common form of homes insurance is contents cover, and this looks after everything in your home that is not built in. This includes your carpets, and is one of the most underestimated levels of insurance cover provided anywhere in the world.
To make sure you get the right level of cover for your home, you are advised to move from room to room, adding the value of the contents up in each room, one at a time. Don’t forget your contents include furniture, curtains, painting, lampshades, the fridge and freezer, the contents of the fridge and freezer, the contents of your wardrobe and anything electrical in the house.
Types of homes insurance – buildings cover
The other important part of homes insurance is buildings cover, and customers who are responsible for the structure of their home should see this as a must.
Buildings cover looks after the structure of your home, as well as any built in items within your home, including built in wardrobes, kitchen units and worktops and your bathroom suites. Buildings cover also looks after any external walls, fences, gates and your shed and garage as well.