House Insurance or Building Insurance

Your house is probably your most valuable asset.  If anything should happen to seriously damage your house, it will dramatically affect your life and your family.  Imagine how much worse it would be if you had no House Insurance or Building Insurance cover to help fix the problems - you could lose your home and have no means of replacing it.

It is a requirement of most mortgages that the mortgaged property is covered by suitable Building Insurance - the mortgage lenders may require that they are recorded as having an interest in the property, and need to ensure their interest is protected in the event of fire, flooding, etc.

Your Building Insurance cover needs to be sufficient to cover the complete rebuilding of your house.  This may differ from the current value of your house since it does not include the price of the land, but will need to include the possible costs of demolishing a damaged property before it can be re-built.  Some Insurance Companies will base their assessment of the amount of cover you need on the value of your house - others may use standard values based of the location and the number of rooms.

House Insurance or Building Insurance should not be confused with Home Contents Insurance.  Building Insurance covers damage to the building itself and possibly some of the fixtures; Home Contents insurance covers damage or loss of your possessions within the building - you should consider both.  Many companies offer Home Insurance Packages combining Building and Contents Insurance.

The price of House Insurance can vary significantly from company to company.  Compare various quotes and ensure that they provide you with the cover you need and reflect any specific circumstances - for instance, if your house is in an area know to be subject to flooding.

Able was I ere I saw Elba

Financial Information Services; Insurance; Insurance Brokers; Home Contents Insurance

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