Home Insurance
It is easy to think a flood, fire or being burgled will never happen to you, but the truth is, there’s no way of predicting what can happen.
Home insurance accounts for the worst and provides you with the protection needed if you find yourself without a roof over your head, or having lost all your possessions.
Could you afford to repair your home if it became uninhabitable due to an accidental fire? It’s not an impossible scenario, but it is also a cost that many would not be able to afford if tragedy struck.
What sort of Home Insurance do I need?
There are two types of home cover: contents and buildings insurance.
Buildings insurance covers the walls, roof, floors and fixtures of your property, including your kitchen and bathrooms. Anything that is considered “permanent” is typically covered by your buildings insurance and will protect you for a range of scenarios such as:
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Natural disasters
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Water damage
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Fires
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Vehicle collisions
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Vandalism
Whilst it is not a legal requirement, if you have a mortgage or are planning to get one, most lenders will require you have sufficient buildings insurance to cover the costs of your property in the event of significant structural damage. This also applies to landlords, although they may have additional requirements too.
Contents cover will protect any damage or loss made to most of the possessions kept within your home – things like your furniture, electronic devices, etc. How contents cover works can vary: most people prefer a “new for old” type of policy, where if your possessions are damaged or stolen, a brand new replacement will be provided.
But, be careful, depending on the type of cover you take out, your insurance policy may also take into account wear and tear, meaning that if your 10-year-old (but perfectly working) television was damaged due to a water leak, you may only receive a fraction of the original cost price back due to depreciation in value.
Getting started with home insurance has never been simpler. Obtain a fuss-free quote with Future Cover today!
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