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Archive for the ‘House Insurance’ Category

Contents Insurance is Essential

19 Jan

Contents insurance is an absolute must for the responsible homeowner who could easily find himself out of pocket with unforeseen repairs or accidental damage.  Many providers apply an ‘old for new’ policy which ensures that, however old the damaged item is, you will never be out of pocket when replacing any item covered in the policy.

Contents insurance policies can be extended to cover the outdoors too; a benefit if you spend a lot of time and money on the contents of your shed or beautifying your garden.  Garden shed and garage contents would also be included here.  

Compare Contents Insurance

If you are looking to buy insurance online there are many providers out there such as Policy Expert, and it might be prudent to check them out carefully to compare contents insurance as many companies offer special deals for new customers and other seasonal specials which could produce some cheap contents insurance quotes.

Basic contents cover is likely to provide all contents up to a value of £50,000, new for old replacement; spectacles, cash held in the home (usually up to £500) and restricted garden contents.  If you have specialised garden ornaments and furniture it would be wise to extend the policy to cover these if not covered as standard.  Basic cover includes fire, flood and theft, fridge freezer contents up to a specified amount and replacement locks, keys and door entry system following a break-in at your property.  A 24/7 helpline should also be in place.

To amend or enhance any of the above and to add other provisos is easily done and you should speak to your provider about doing so before purchasing your policy.  However as circumstances change or a major new purchase or significant jewellery item is brought into the home do remember to inform your provider as quickly as possible to ensure you are fully covered.

Many providers offer significant discounts when adding extras once a policy has been purchased.

 
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Posted in Contents Insurance, House Insurance

 

Compare House Insurance Policies

11 Jan

As the country struggles through difficult financial times, more and more people are looking at all areas of their finances in a bid to save as much money as possible.  Some of the main expenses being looked at, in order to make savings, include utilities in the home, as well as insurance policies.

There are a huge number of insurance companies with ads offering to provide cheap home insurance for their customers.  A recent survey found that more than eight out of ten Britons were willing to search the internet in order to compare house insurance premiums and find the best deal.

Society today is getting much more used to using the internet and it is one of the first places customers turn when they want to find cheap house insurance.  It is not all about the money though; the research also found that many people use price comparison sites, as it is a quick and easy way of gaining the peace of mind that they are getting the best deal on their insurance.

The fact that people can visit a price comparison site and not have to spend a lengthy amount of time visiting individual sites and filling in their details for a range of different companies, is a big factor when it comes to buying insurance cover.

The accountancy firm that compiled the survey also found that around 34% of people in the UK with insurance policies has switched providers over the past year in order to secure a better deal.

 
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Posted in House Insurance

 

Landlord Insurance – get protected

06 Dec

Landlord insurance is a policy type that protects the owner of a building from any financial loss that might be incurred as a result of renting out their property.  These insurance policies cover the building itself, but can also provide an option of additionally insuring contents that belong to the landlord.  Cover against loss of rent due to forced non-occupancy can also be purchased.

Policies of this type cover against the standard risks including; theft, malicious damage, fire, explosion, storm, earthquake, lightning, flood or escape of water or oil.  However, not all policies are the same and some will have specific exclusions.  It is advised that the small print is carefully read to ensure that the cover is applicable and adequate.

Optional extras for coverage can include alternative accommodation costs, liability cover, accidental damage, terrorism, contents insurance, accidental damage and rent guarantee insurance.  This type of insurance usually does not cover any property belonging to a tenant.  Neither will it protect the personal interests of tenants.

Consumers are able to use price comparison sites to source quotes for these landlord insurance policies.  As a result they are able to tailor the cover to their individual circumstances and select extras to suit their individual requirements.

 
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Posted in House Insurance, Landlord Insurance

 

What is Covered Under Contents Insurance?

10 Nov

When you want to compare contents insurance policies, you may wonder exactly what is covered. The phrase “home contents” refers to anything that is not a part of your home’s fixtures and fittings. If you were to move house, the contents are those things that would be taken with you. The exact definition varies from policy to policy, so when you compare house insurance prices, you need to make sure that the company you choose covers everything that you want covered.

The Basics
There are certain items that would be covered under almost all contents insurance policies. These include: electrical appliances, furniture, jewellery, clothes and shoes, gadgets such as mobile phones and cameras, and money.

Extras
Different policies may also add items tailored to specific groups of people. These might include such things as frozen food, musical instruments, bikes and garden furniture. If any of these things are among the items you would want covered, make sure your policy covers them before you sign on the dotted line.

 
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Posted in Contents Insurance, House Insurance

 

Home Insurance – protect your possessions

22 Oct

House insurance is vital for a homeowner’s piece of mind and can offer cover from events ranging from theft to a storm or flood.  The term ‘home insurance’ can normally be divided into two categories; contents insurance and buildings insurance.  Cover of household possessions as well as building structure is often purchased together, although they can be bought separately. 

Though different policies vary, buildings insurance covers the cost of damage to the structure of the home, provided the circumstances were beyond the control of the insured.  In this way, buildings insurance often covers damage resulting from fire, vehicles, graffiti, lightning, and subsidence.  This list is certainly not exhaustive but buildings insurance will usually cover damage to any fixtures within the property boundaries including gates, fences, and windows.

Depending on the insurer, contents insurance normally covers all possessions within the home that are not fixed to the property.  This applies to furniture and appliances as well as to more personal items such as clothing and jewellery.  In most cases, contents insurance is on a ‘like for like’ basis, meaning that replacements will be of similar age and value, though many insurers offer ‘new for old’ policies at a higher price.

As many mortgages make house insurance a compulsory clause in the agreement, it is important to obtain the correct cover.  There are many ways to find the best cover including numerous websites that allow you to compare buildings insurance and it is also worth looking at optional extras to limit exposure to the many events the world can throw at you.

 
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Posted in Buildings Insurance, House Insurance

 

Buildings Home Insurance

06 Oct

Buildings insurance is a form of house insurance that covers not only your house itself, but also the structures on your property such as sheds, gates, fences, pools, and other fittings or fixtures, such as taps, sinks, baths, showers, built-in wardrobes, and fitted kitchen.  If any of these primary structures of your home were to be lost or damaged due to flood, fire, or other insured risks, a buildings insurance policy would cover the amount it would cost to replace or repair them.

It is important to note that buildings insurance does not cover those possessions inside your home that can be moved, such as furniture, clothes, appliances and other personal belongings.  Those items would need to be covered by home contents insurance.  Something to note however, is that when gathering house insurance quotes on building insurance you can often receive a discount on the premium if you buy contents insurance on the same policy.

When assessing how much buildings house insurance cover is necessary, you need to consider how much it would cost to rebuild your home and its outbuildings from the ground-up.  This will also include all the costs associated with demolition and the removal of materials from the site. The value of the land that the house or its structures are built on should not be included in the estimate.  You may know what the market value of your home is at the present moment but the fact that will have to be established for insurance purposes is the rebuilding cost.

 
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Posted in Buildings Insurance, House Insurance

 

Legal obligations when applying for landlord Insurance

30 Sep

Choosing to purchase Landlord Insurance is an excellent way to protect property when it comes to legal claims.  It ensures peace of mind and fair treatment for everyone, although there are certain legal obligations involved when applying for this type of insurance.

Duty Of Disclosure

When purchasing a policy, the consumer is required to disclose any information that may be relevant to the insurance company’s decision on whether or not to provide Landlord Insurance.  Insurers have the right to refuse payment of a claim under an insurance policy if Duty Of Disclosure has not been met.  The duty to disclose information exists from the time the proposal is made and lasts for the entire term of the policy, so it is important to keep insurers updated on any developments.

Utmost Good Faith

The principle of Utmost Good Faith applies to both the customer and the insurer, with the burden of proof and responsibility resting on the customer to be as open and honest as possible with the insurer.  It is the responsibility of the insurer to prove that the information is relevant to their administrative process, and therefore that the consumer has not been completely honest and open.  Any facts used by the insurance company to determine the customer’s good faith are known as “material”.

Right To Refuse Cover

An insurance company has the right to refuse an application for any number of reasons.  If they decided not to provide insurance cover, they are required to tell the consumer why and offer an explanation.

 
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Posted in House Insurance, Landlord Insurance

 

Home Insurance For Landlords

15 Sep

Investing in buy-to-let property has really boomed over the last decade.  Whether you have a portfolio including several rental properties or just a single property that you rent out, you will need to arrange specific insurance cover.  Standard house insurance doesn’t apply in this situation.  You will need to purchase landlord insurance.  This is a targeted insurance product designed for rental properties.

It might not be a comfortable truth, but some tenants will not treat your property with the same care and respect that you do.  Therefore, insurance to protect your home against potential damage makes sense. 

As with most house insurance, landlord cover breaks down into buildings insurance and contents insurance.

Basic landlord insurance for buildings will include cover for damage to the structure of the building, for example as a result of fire or flood.  You can also arrange accidental damage cover for drains, cabling and fixed landlord fittings, such as sanitary ware and glazing.

If it is a furnished tenancy, landlord contents cover for furnishings and domestic appliances is available.  Sometimes you will get options for common accidental damage cover, such as carpet stains or minor breakages.

You will be able to tailor the policy exactly to your requirements.  For example, you can arrange cover against loss of rental income if your property is damaged.  Equally, if a tenant is injured on your property, you can protect yourself with public liability cover.  Whatever your situation, there is a landlord insurance policy to give you peace of mind and protect your investment.

 
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Posted in Buildings Insurance, Contents Insurance, House Insurance, Insurance

 

A Guide to Buildings Insurance

01 Sep

Buildings insurance provides cover for the ‘bricks and mortar’ of your home as well as the other materials that put a roof over your head and protect you from the elements.  It is vital for the modern homeowner; protecting you, your family, and the largest investment you are likely to make.  Your home can suffer damage from a number of sources, so it is no wonder mortgage lenders usually require a policy to cover the cost of a total rebuild. 

The average buildings insurance policy will cover damage resulting from fire, flooding, storms, burst water pipes, and even fallen trees, provided the damage caused was no fault of your own.  It will pay for damage to the walls, roof, and structure of your home and in many cases permanent fixtures such as kitchens and bathroom fittings.

Your standard cover will usually depend on the location of your home.  Postcodes can indicate to insurance companies the risk posed by theft or flooding, so it is worth doing your research and finding out about your area and any possible risks involved. 

It is possible to buy extra cover as part of your buildings insurance, for example covering the cost of your greenhouse or the replacement of windows and glass.  When buying your buildings insurance, it is always best to know exactly what you need to cover.  In this way, you can always be sure you are protected should the worst happen.

 
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Posted in Buildings Insurance, House Insurance, Insurance

 

How are Home Insurance Quotes Determined?

25 Aug

While shopping around for home insurance quotes, you may wonder how companies arrive at the price for their home insurance premiums. Many different factors are considered. If your home is located in what is considered to be a safe neighbourhood, your home is less of a risk to the insurer and, therefore, home insurance premiums in your area are lower.

The size of your home and any additional outbuildings is another aspect that is taken into account. This affects the cost of rebuilding your home, so consequently, the larger the home, the higher the premium.

The material your house is made from also determines the cost of home insurance quotes. Houses constructed of bricks, slate or stone will have lower premiums than those houses built with other materials. Living in an area prone to flooding will also have a detrimental bearing on your house insurance quotes.

Other issues that affect your home insurance quotes are whether your home is located near a fire station or other emergency services, if the electrics and plumbing are in good repair, and even your age, with clients over 50 usually getting a discount.

Of course, the amount you choose to insure your home for, and how high of a deductible you decide upon, are also factors that influence the amount of your premium.

With these things in mind, it is best to shop around and compare home insurance quotes to get the best coverage for your money.

 
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Posted in House Insurance, Insurance

 
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