Buildings insurance protects the bricks and mortar, fixtures and fittings of your home from unforeseen circumstances such as fire or flood. It isn’t a legal requirement, but it is usually a condition of any mortgage lender that as soon as you buy a house and exchange contracts, and become legally responsible for the property you have at least buildings insurance in place. If you don’t have cover in place, and you have to rebuild, you run the risk of financial ruin or even being left homeless.
Your buildings insurance cover is based on the cost of rebuilding, not the market value, which is usually less than the market value, so lower premiums. Surveyors and insurance companies can help determine the cost of a rebuild and we can help arrange that for you if needed.
Besides the obvious threats to your home such as fire and flood, a comprehensive buildings insurance policy will cover you for any storm damage, subsidence, burst pipes and vandalism, plus any other perils, saving you thousands of pounds in repairs.
Trace and access cover
Trace and access cover insures damage caused to your property whilst investigating a claim; for example if you rip up your flooring to source and mend a leak, without trace and access cover you may not be covered for the cost of replacing the flooring.
Let us take a look at your existing buildings insurance to check you have the right levels of cover, or give us a ring to discuss a new policy if you are about to buy a new house.
We can also help with landlords and specialist buildings insurance, including flooding, subsidence, thatch and unoccupied properties; we love a challenge.
Contents insurance is often bought alongside buildings insurance and protects the possessions within your home, from your carpets and curtains, television and audio equipment down to overlooked items like clothes and jewellery. It is usually a given amount to cover everything, rather than listed individual items.
Because of this, it is important that you don’t over- or underestimate how much you should insure your contents for. You don’t want to overestimate and pay a higher premium than necessary, but similarly you don’t want to underestimate and not be covered sufficiently to replace all you have lost in the event of a claim.
If you have high value individual items, like watches, antiques or collections, it is important to check that these are covered as most policies have inner limits. Similarly ‘away from home’ cover for items like watches, jeweller and cameras is important.
Understanding the small print
There is a great deal of competition for contents and buildings insurance policies, and lots of different elements can be included or excluded, so it’s important to understand the small print; some will include cover for outbuildings, others the cost of temporary accommodation, and some may cover accidental damage. We will take the time to read and assess your existing buildings and contents insurance to ensure you have everything you need for your circumstances and take the time to explain to you what your policy will provide for you in the event of a claim.
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We will also talk you though any additional extras like legal cover, which would increase your premium, but might be advisable depending on your circumstances. We can also arrange home emergency cover for private homes and landlords. Up to £500 for emergency repairs for burst pipes, blocked drains, failure or damage to locks, doors or windows.
Give us a call today to get the right advice to protect your home.