Home Insurance Explained:
If you are looking for a home insurance quote you are in the right place! With Fresh Approach Finance, we can search and compare some of the UK’s top home insurance providers to find a quote that’s right for you and your property.
What is Home Insurance?
It’s a policy designed to protect your property and possessions.
Cover comes in two parts and you can choose either one or both of these based on your needs:
• Buildings cover insures your bricks and mortar for events like fire and weather damage
• Contents cover could protect your belongings against problems like theft, damage and loss
Why would I need it?
Buying a property is likely to be one of the biggest investments you will ever make and replacing your things if you suffer a loss could be expensive.
If you are a homeowner, you might need buildings and contents cover, or just buildings:
• Most mortgage lenders insist that you have buildings cover to protect their investment
• Don’t always choose your mortgage lender’s policy, shopping around could save you money
If you are renting, you do not usually need buildings cover but you may want contents cover:
• Contents cover could help you with the cost of replacing your goods if you suffer a loss
• Avoid underinsuring your belongings, as your insurer may pay out less if you make a claim
Whichever option you choose, it’s important you get the right level of cover for your needs.
Home Insurance Plans Available:
Buildings Insurance
Generally speaking, it covers the non-moveable parts of your home like fitted kitchens, bathrooms and other fixtures as well as the building itself. Before you buy a house, most mortgage lenders will insist that you take out a policy to cover the building.
With a buildings insurance policy, you could be covered for:
• Damage to your house from flooding, fire and storms
• Structural damage caused by subsidence and fallen trees
• Damage to outbuildings like garages, sheds and patios
• Accidental damage, in case you put your foot through the attic floor
Storm damage is the second most common claim on a buildings insurance policy after accidental loss or damage, such as a broken window. With unpredictable weather changes, getting covered is worth considering.
Contents Insurance
It is a policy designed to secure your belongings against theft, loss and damage. Typically it insures items like your electrical goods, furniture and clothes. You could add cover for accidental damage or high value items to your policy.
There are normally two types of cover available:
• Indemnity considers the age of your items and accounts for any wear and tear
• New for old replaces your goods with a brand new equivalent regardless of their age, although some exclusions may apply.
