There are so many different forms of insurance that an average household will take out during their lifetime, with life insurance, car insurance and home insurance three of the most common. You may also take out mobile phone insurance, critical illness cover and protection for your mortgage payments. When times get more difficult, and money doesn’t seem to stretch as far, people naturally start to ask if they need each of these insurance products, that leave many small dents in their bank account each month.

When it comes to home insurance, the answer is you really can’t afford not to have it. Home insurance provides customers with protection against total financial ruin, and can be the difference between completely destroying everything you have worked for and making sure that you are not financially out of pocket at a really difficult time.

Home insurance can provide protection for customers in many different ways, and a standard home insurance policy can consist of both home contents insurance, or home buildings insurance, and for many customers both.

The reason you still need home insurance is evident in both types of policy. Home contents insurance protects everything in your home, from your furniture, to your furnishings, your DVD collection to the clothes and shoes in your wardrobe. If your home and contents are damaged or lost as a result of theft, fire, water damage (burst pipes) flooding, storm damage or vandalism, then your home insurance will pay for everything to be replaced.

You may look at those eventualities as unlikely, but with the riots in the summer, an increase in random weather patterns and an increase in the number of burglaries as unemployment rises, you never know if it could happen to you.

Your buildings insurance element of your home insurance is even more important, and provides protection for the structure of your home. If your home is burnt down, or knocked down by storm damage, then without home insurance you would be faced with an outstanding mortgage, a home worth nothing, and having to pay to rebuild the home, as well as to rent somewhere else to live in the meantime. With a bill running into hundreds of thousands of pounds, you will wish you had a home buildings insurance policy to pay for all of those things for you.

Comments are closed.