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Buildings & Contents Cover

 

Buildings cover is there to protect the actual structure and various fittings.  It may also cover outbuildings and other aspects depending on the policy details.  Again you may have included accidental damage so whether a pipe bursts because it is an icy winter or you have hammered a nail through it, you have some protection.

You can only protect assets which are owned by you.  So if it is a leasehold property, the freeholder or the management company will put in place buildings cover and you should always ensure they have done so.  But likewise they can not put in place cover to protect your personal contents, that’s your responsibility.

The cost of buildings cover largely depends on the location and property type.  Other factors such as the type of locks or if there is an alarm system may influence the premium.  It will protect you against various perils and you need to ensure you have adequate cover.  Not all cover is of the same quality and you do need to ensure it is acceptable to the lender.  Our advisors will ensure any selected cover meets the lenders requirements as well as yours.

If you are buying property, you need to ensure there is suitable cover on exchange as that is the point at which you become liable.

 

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Contents cover is there to protect your personal possessions, items such as furniture and clothes.  You can protect other valuable items such as jewellery or even cover items away from the home such as cameras.  You can select the level of cover and the items covered.  Again one of our advisors can help you construct a suitable policy that meets your aims.

 

It can be better to have combined buildings and contents cover.  This is because you may qualify for a discount but also it avoids potential disputes.  If the same company is covering both the buildings and the contents, you are not going to have disputes over who covers what in the event of a claim!  And like car insurance, this needs to be renewed annually.

 

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