What is household insurance?

Home insurance is exactly what it sounds like it is there to protect your home. Buildings and contents insurance will provide you with peace of mind and protect you from potential financial hardship should you need to replace or repair your home, its contents and your belongings.  It will protect against damage or loss and if you choose provide you with legal and emergency assistance.  It is possible to get the two insurances in two separate policies although you will find that most providers offer them as a combined cover.

Why do you need household insurance?

As our homes are the most important asset that we are ever going to own, it is imperative that adequate home insurance is taken out for your property. We have access to a variety of providers and will compare the benefits and levels of cover to get the best value for you.

Statistics show that 1 in 4 people in the UK will get burgled during their lives but people still choose to ignore this and don’t get any protection whatsoever. Other unforeseen circumstances such as floods and fire may also wreak havoc among your possessions and by not taking out effective cover you are taking the risk of losing out financially.

Home insurance is split into two types, buildings and contents. Buildings insurance is a mandatory condition when taking out a mortgage and lenders will insist that this insurance is in place before completion of the loan. It protects your home against disaster that is beyond your control such as flood or major fire as well as other events like burst pipes or subsidence.

Contents insurance is not a mandatory requirement when taking out a mortgage, but is just as important.  It provides insurance against damage to or loss of contents and personal possessions whilst in the home.  You can also build in options that protects those belongings whilst away from the home.  If you own your own home it is common to have both buildings and contents insurance alongside each other, however if you are renting then protecting your contents only is just as important.

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