What is Home Insurance?
Home insurance, also commonly called homeowner's insurance is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy. Additionally, homeowner's insurance provides financial protection against disasters.
What are the different types of home insurance?
A standard home insurance policy insures the home itself, Buildings Insurance, along with the things kept inside, which is Contents Insurance.
Buildings insurance covers the cost of repairing damage to the structure of your property. This includes the walls, windows and roof as well as permanent fixtures and fittings such as baths, toilets and fitted kitchens. As a general rule, buildings insurance covers the cost of rebuilding your house from the ground up.
It is likely to differ from the market value of your home and often includes the cost of services like demolition, site clearance and architects’ fees.
Generally buildings insurance covers the cost of loss or damage caused by: fire, smoke, explosions, flood, storms, natural disasters, fallen trees, lamp posts, aerials or satellite dishes, vandalism or malicious damage, subsidence, vehicle or aircraft collisions.
Depending on the type of policy you choose, you may also be covered for structures around your home like garages, outside walls and driveways. Homeowners often combine this with contents insurance, which protects their belongings from loss, theft or damage.
Accidental Damage – Buildings Insurance
By adding Accidental Damage to your Buildings Insurance policy, we’ll provide cover for unintentional damage to your property such as nailing through a pipe when putting a picture on the wall or putting a foot through the ceiling when up in the loft.
Legal Expenses – Contents
Legal Expenses Cover can be added to buildings cover to provide up to £100,000 of legal support to deal with a range of unforeseen circumstances such as being treated unfairly at work, contract disputes or personal injury.
Contents insurance
On the other hand, Contents Insurance, covers the cost of replacing your belongings in your home if they are damaged, destroyed or stolen. Generally, your ‘contents’ are defined as the items that you would take with if you moved home. If you are a tenant, although you don’t own the property it is advisable that you insure your belongings with a contents insurance policy.
Accidental Damage – Contents
Accidental Damage cover can be added to the Contents Insurance policy to provide cover for a range of unintentional events such as spilling paint or red wine on your carpet.
Personal Possessions – Contents
Personal Possessions cover is a valuable extension to Contents Insurance to protect against accidental loss or damage of items normally worn or carried, like jewellery or mobile phones, inside and outside the home anywhere in the UK and whilst abroad.
Legal Expenses - Contents
Legal Expenses Cover can be added to Contents cover to provide up to £100,000 of legal support to deal with a range of unforeseen circumstances such as being treated unfairly at work, contract disputes or personal injury.
At Quote Easy, our team of experts, help and support customers to find the best possible policy, product and provider for them. They will also assist the customer with an accurate and up to date whole market review, which will identify the best, value and benefits available based upon the customers needs and affordability.