BUILDINGS AND CONTENTS INSURANCE
Here at The Mortgage Hub we offer advice and a comprehensive service for anyone looking for buildings and contents insurance in North Devon. Our highly experienced staff can point you in the right direction when it comes to getting house insurance quotes in Barnstaple, Bideford, Braunton and beyond, and can also help with any other insurance related queries, since as independent insurance brokers in North Devon we’re well placed to examine the market and find you the best deal.
WHAT IS BUILDINGS & CONTENT INSURANCE?
Buildings and contents insurance is placed under the bracket of home insurance. It is a combined insurance policy that will cover or replace any damage that might occur to the house or its contents, including loss. It is essential for all mortgaged houses, and the majority of other homeowners who do not have a mortgage will also have this type of insurance. It is possible to get the two insurances separately, although you will find that most providers offer them as a combined cover.
Buildings insurance – This insurance covers your house if any major disaster happens to your home. If you have accidental damage then it may cover you for things like hammering a nail into an in known water pipe by accident. Mortgage providers will insist that you take out this cover, as it means they will be able to recover their losses in such events. It is like a type of security or collateral for the loan that they have given to you.
Contents insurance – This covers all items in your house which are not fixed to the property, for example your furniture, jewellery, appliances and clothing. Most of the available contents insurance policies will even cover things like the contents of your refrigerator and freezer! The cheapest type is indemnity insurance. This cover will replace exactly what was there before, so if you claim for a washing machine that was already three years old, you will be given a replacement washing machine that is three years old. The more expensive “new for old” option will give you a brand new replacement of whatever gets damaged or stolen, thus you would get a brand new washing machine. Contents insurance will cover you in most of the same situations as buildings insurance, but also includes theft. Again, any of these perils must have been beyond your control.
Optional extras that you can add to your cover. As well as the most basic cover, there are a number of optional extras, available for an additional price:
- Accidental building damage – This includes damage which you cause to the house, for example whilst doing DIY.
- Accidental contents damage – If you cause damage to any of the contents of your house by accident.
- Personal belongings – This will cover personal belongings, such as iPods, computers etc, regardless of whether they are stolen or damaged in the house.
- Home emergency – If an emergency, such as a burst pipe, occurs within the house, this type of cover will provide you with a tradesman that you can call out for free. It is usually 24 hour cover, and will generally only cover you for a certain amount of work, on average up to £250 (including call-out charge, materials and labour).
- Legal expenses – Some buildings and contents insurance will also cover you if an accident occurs within your house or on your property, and another person is hurt. This legal liability, although rarely needed, could cover you in situations where people will sue if the accident was caused by something or someone within the house.