Buying a house is a major investment, and one of life’s big moments. So, it’s important you make sure it’s insured properly.
When it comes to home insurance, there are two options to choose from. You can opt for one, or choose both – it all depends on your own specific requirements. The first type of cover is buildings insurance. This insures the actual bricks and mortar of your house. So, for instance, if your home were to suffer weather damage, or be struck by fire, buildings insurance would cover it. Buildings insurance is often a requirement of most mortgage lenders as it means their investment in your property is protected too.
The second type of home insurance is contents cover. This is the insurance that will make sure your possessions are protected in instances such as damage, theft, or if you were to lose them. Contents cover is particularly important if you’ve got items of high value, as replacing possessions that you have bought over the years would cost a vast amount if anything were to happen to them.
As with all forms of insurance, home insurance is about keeping your property safe in those instances you hope will never happen to you but might. It offers you peace of mind too – because, if the worst does happen - you’ll be covered.
When looking into home insurance, it’s important you make sure you choose the right cover for you. Underinsuring your property or possessions might seem like a wise move when it’s saving you a few pounds off your yearly insurance policy, but if the worst does happen and you need to make a claim, you won’t get the real value of your home or contents. So always make sure you get the right level of home insurance cover for your property and contents and you’ll be covered should the unimaginable happen…