Home Insurance is a policy that is here to protect you against loss in regards to your property. In other words saving you money against possible costs. When you buy a house/home you may want to protect this property against possible loss. For example your home may be subject to damage. Such as your house may suffer fire damage, flooding or structural issues. You may consider taking out this policy to help with the cost of repairs, if damages occur.
You can enquire about two types of insurance. Firstly, you may consider buildings insurance. This could protect your building against damage costs. Secondly, you may ask about contents insurance. This could protect you against the costs of damage or theft to the contents of your property.
You may have questions about this policy. For example, What does building insurance cover? The answer is this will cover your houses roof, walls, floors and also other fittings such windows and fitted kitchens.
Does contents insurance cover everything in my home? Do you own furniture, jewellery and clothes? These would be covered by this policy. This can protect your contents if they are stolen, damaged or destroyed.
Is home insurance compulsory for me? You do not need this policy, as it is not a legal requirement. Your home may suffer damage, thus leading to a large bill subsequently leaving you out of pocket. You may wish to take out this policy to protect your assets. In other words it’s better to be protected.
Do you own the property you are staying in? If yes. You are responsible for the cost of any damage in or to your home. If you are renting the property, your landlord should be responsible for the insurance policy. You may want to double check to be safe.
Landlords will require Buildings insurance to cover the property/ properties they are renting out.
The rebuild value of your home
Details of the property
The level of cover you need