Buildings and Contents Insurance | Leicester
As a homeowner, your house is not just a physical structure; it's your sanctuary—a place where memories are woven, dreams are nurtured, and cherished belongings find their special place. However, life is unpredictable, and unforeseen events can strike at any moment. That's where Buildings and Contents Insurance comes to your rescue, acting as a sturdy shield to safeguard your haven and treasures against the unexpected.
Last Updated: 2nd August 2023
Understanding Buildings Insurance
Buildings Insurance covers the cost of repairing or rebuilding the physical structure of your property in the event of damage or destruction. This coverage includes walls, roofs, floors, windows, and permanent fixtures like kitchens and bathrooms. Additionally, garages, sheds, fences, and certain outdoor structures are often included. Buildings Insurance offers financial protection against various perils, such as fire, floods, storms, theft, vandalism, subsidence, and more.
Key Points about Buildings Insurance
Mortgage Requirement: If you plan to buy your home with a mortgage, Buildings Insurance is typically mandatory. Your lender will require this coverage to safeguard their investment in the property.
Accurate Rebuilding Cost: Ensure that your policy covers the full cost of rebuilding your home, including demolition, site clearance, and architects' fees. The rebuilding cost is not the same as the market value of your property.
Optional Add-ons: Some policies may offer additional optional coverages, such as accidental damage, legal expenses, or home emergency cover. Assess these extras to determine if they suit your needs.
Policy Exclusions: Familiarise yourself with the exclusions in your policy, as certain types of damage resulting from inadequate maintenance or wear and tear may not be covered.
Regular Review: Rebuilding costs tend to rise over time, so it's essential to review and update your Buildings Insurance coverage periodically.
Understanding Contents Insurance
Contents Insurance protects your personal belongings and possessions inside your home. This coverage extends to items such as furniture, electronics, appliances, clothing, jewellery, and other valuables. Contents Insurance comes to your rescue in case of theft, damage, or loss due to covered events.
Key Points about Contents Insurance
Calculating Coverage: Determine the appropriate level of Contents Insurance by conducting a thorough inventory of your belongings and estimating their total value. Underinsurance could result in inadequate coverage.
New-for-Old Cover: Most Contents Insurance policies offer "new-for-old" cover, replacing damaged or stolen items with new equivalents, rather than paying out the current value.
High-Value Items: If you own high-value items like expensive jewellery or artwork, consider specifying them separately on your policy to ensure adequate coverage.
Single Item Limits: Some policies may have limits on the value of individual items covered. Verify if these limits align with your possessions.
Additional Coverage: Explore the option of adding extra coverage for risks like flooding, subsidence, accidental damage, or coverage for possessions taken outside your home.
Bundling Buildings and Contents Insurance
Combining Buildings and Contents Insurance into one comprehensive policy can offer several advantages. Many insurance providers offer packaged deals, making it more cost-effective than buying separate policies. Additionally, bundling simplifies your insurance management with one policy, one premium, and one renewal date.
Arrange Buildings and Contents Insurance Appointment
Buildings and Contents Insurance plays a crucial role in safeguarding your home and possessions from unexpected events. Protecting your home and belongings offers you peace of mind, knowing that you have a safety net to rely on in times of adversity. If you have any questions or need assistance in finding the best Buildings and Contents Insurance, don't hesitate to reach out to us. We'd love to help. Simply, give us a call on 0116 3262610 or complete the contact form below and we will be in touch.
Contact us.
Fill in the form on the right, and we’ll get back to you as soon as possible.
Click to read our ‘Just in Time Statement’ to find out how we use and store your data.