As a homeowner, your most prized possession will always be just that, the home. It’s vital that the right protection is in place to fully protect the investment. Household insurance is an ‘umbrella’ term which covers two types of Insurance, buildings and contents insurance.
Buildings insurance, often a condition of mortgage acceptance, covers the external structure of the property and relates to the bricks and mortar of the building. If the property were to be damaged by a disaster such as a flood or fire, this type of policy would cover the rebuilding costs, costs of demolition, site clearance and architects’ fees. Buildings insurance also protects fixtures and fittings throughout the home.
It’s no surprise that when all items within a home are added up, their total worth would be rather significant. Contents insurance is a particularly useful type of cover that protects those items you have collected over the years, including but not limited to sofas, beds, televisions and sound systems. Contents Insurance usually covers water leakages, storms, flooding, fires, explosions, lightning, and earthquakes.