Home Insurance

Home Insurance is often overlooked until a claim is needed to be made. You might find your policy doesn’t cover the things you thought it did. That is why it is important to ensure you have the right type and amount of insurance in place, before you need to make a claim. 

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What Is Home Insurance?

Home Insurance can be two separate insurance policies: one for the building and one for the contents of the building. Alternatively, you can purchase a combined Home Insurance policy that takes into account the building, inside and out.

Home Insurance protects the structure of your home. For example, the walls, the foundations, the roof, the lighting, the flooring, the plumbing, the electrics, etc. are all covered. 

However, your possessions (or the contents of your home) are only covered under a combined policy. So, if you have separate cover, then you have one policy for the building and one policy for your possessions. For example your television, computer, sofa, washing machine, dishwasher, jewellery, camera, watches, art and ornaments, collections, antiques, etc.

Having Home Insurance (combined into a single policy, or as separate policies) means that you can claim if anything happens to your home. If you are the victim of a burglary or a flood, having Home Insurance means that you will be able to put your life back to normal faster afterwards.

Contact Us to discuss your Home Insurance needs.

Other common types of protection are Life Insurance, Critical Illness Cover and Income Protection.

See our Critical Illness Cover page here: Critical Illness Cover

See our Life Insurance page here: Life Insurance

See our Income Protection Insurance page here: Income Protection Insurance

Home Insurance

Why Do I Need Home Insurance?

Whether or not you own your home or are renting, it is essential to protect your possessions. Clearly, if you own your home, then you also need to protect your property.

Having Home Insurance means that if the worst does happen, you are able to make a claim on your insurance to help get you back on your feet again. As such, the majority of mortgage providers will insist that you have buildings insurance before they give you a mortgage. Basically, this means that you are both protected.

How Much Does Home Insurance Cost?

The cost of your policy depends on a few factors. For instance, how much it would cost to completely rebuild your home from scratch and whether you live in, or near a floodplain. 

You can check the rebuild cost of your home with the Association of British insurers here.

Assessors consider the crime statistics for your area as well as your claims history and whether you want accidental damage cover too. It is often cheaper to combine the policies into one Home Insurance Policy rather than buying the insurance policies separately. However, it is worth checking the price of them individually. Contact Us for a free insurance quote.

Who Needs Home Insurance? 

Whether you rent your home, or own it, you should have insurance on all of your personal possessions. However, if you rent your home, then your landlord will pay for buildings insurance meaning that you will only need to take out contents insurance. Not many people can afford to replace everything in their home if it was all lost. Contact Us for a free quote.

When Can I Make a Claim On My Home Insurance?

If your house has caught fire, has been flooded; if you’ve been burgled or if there has been an explosion, you will need to have a lot of work done on your home to put it to rights again. Additionally you might need to undertake lengthy building work to get back to normal. 

Indeed, some buildings insurance policies also protect outbuildings like sheds, summer houses, garden walls and driveways. Check your policy covers them. 

Buildings Insurance 

Events usually covered are:

  • Theft or vandalism
  • Storm, fire or flood
  • Falling tree
  • Explosion
  • Car or lorry collision
  • Water, gas or oil leaking
  • Subsidence
  • Heave

Contents Insurance

Events usually covered are:

  • Lost
  • Damaged
  • Stolen

Contents Insurance

Items you may want to cover with Contents Insurance are:

  • Money
  • Clothing
  • Collections
  • Furniture
  • Antiques
  • Jewellery
  • Electrical items

You should always check what is included and excluded on the policy. Some policies offer certain items as additional extras. For example, this could be high-value items, or money above a certain amount. Although, wear and tear and maintenance issues are generally excluded. For example, blocked guttering.

Contact Us to review your existing policy for free.

Home Insurance

What Else Should I Consider When I Am Buying Home Insurance?

Always make sure that you have the right level of cover. This needs to be correct if you ever claim. 

Importantly, home emergency cover is also worth considering when you are applying for Home Insurance as this will protect you in an emergency, like a pipe bursting in your house. With this cover, a tradesman will be in your home soon after you report the incident to your insurance policy provider. 

Simple Fast Mortgage can give advice about suitable insurance policies, as well as any other aspect of applying for a mortgage. Simple Fast Mortgage are friendly and informative experts in their field.

Contact Us to speak to our helpful and knowledgeable advisors about how to obtain your Home Insurance policy. 

See our Critical Illness Cover page here: Critical Illness Cover

See our Life Insurance page here: Life Insurance

See our Income Protection Insurance page here: Income Protection Insurance

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