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Insuring YOUR Property Why You Will Need To Get The Right Property Insurance.

 Insuring property

There are a lot of companies that offer a range of insurance policies for home
owners but finding the right one can be very daunting. When taking out an insurance
policy to cover your property you should never assume that the policy will insure
you for all eventualities.

 
It is also important that you never go on price alone. You will need to ensure that when you are
researching the market to find a suitable insurance company that you compare like for like.
This means that you are taking a wider view of what your insurance package will contain and not just the cost. Always carry out extensive research and ensure
that you use a reputable company for your home insurance needs.

 

When it comes to home insurance, there are 2 main forms of insurance that you may want to look into. Building insurance and Contents insurance.


 

Building Insurance. This form of insurance covers the cost of rebuilding your home if the worst happens. The sum paid when you decide to take out building insurance must be adequate to rebuild your home if it is destroyed. With building insurance you are covered for the bricks and mortar and the cost of labour used to build the house, this will not include the cost of the land.

 

It is advisable that you always take out building insurance and to ensure that it starts on the day you exchange contracts.

 

Your building insurance will also cover you for fixtures and fitting if they are damaged by anything out of your control such as subsidence, fire, vandalism or third party damage and others.

 

When you decide to insure your property ensure that you always take out a policy that will offer you the right level of cover and never try to cut corners and under insure. Also ensure you research the market to check various companies and do a comparison on what you will be covered for.

 

Contents Insurance. With contents insurance you are covered for the possessions within your home. Your contents insurance should cover you if your possessions are damaged, stolen or destroyed. Contents insurance can also cover things that are located outside your house but this can be subject to conditions.

 

Contents insurance policies set a limit on the amount which you will be able to claim and this is known as the sum insured. The sum insured is usually set at £30,000. Some insurance companies are also happy to offer you a customised package to suit your needs.

 

When taking out contents insurance it is advisable to work out the value of everything that you believe is worth insuring in your home. You may also need to ensure that you keep your receipts or even have photographs of valuables.

 

Always read the small print in order to know what your insurance policy covers you for. And never be afraid to ask any questions about aspects that you do not understand.

 

If you have contents insurance with the property that you are moving from you may also be able to transfer the policy to your new home. Always check with the insurance company and never make assumptions.