Home insurance is used to describe buildings and contents insurance. Buildings insurance is a requirement with a mortgage and is designed to pay for rebuilding the property should the structure be damaged. Contents insurance is optional but very useful, as it covers what’s inside your home…

???? Leaks and floods. This is both the most common and most expensive claim. Research also suggests that many escape of water claims are due to a neighbouring property.

???? Fire and explosion, accounting for 17% of claims. We’re going to give you some credit here and assume you know why it’s a good idea to cover your house against potential fires.

???? Theft, making up 12% of claims. Protecting your valuables from burglars is sensible.

???? Domestic subsidence. This is when the ground beneath a house moves and is usually covered under buildings insurance.

???? Accidental damage. Think spilling a cup of tea on your laptop or smashing your TV. If you’re accident-prone, or share your house with those who are (think children or pets), you might want to consider this cover. Accidental damage is not always covered as standard.

If you’d like to discuss the options available to you, contact your adviser today. 0330 135 8047

Source: Mortgage Intelligence

Home Insurance

What does home insurance cover?