There are three main types of home insurance; buildings insurance, contents insurance and personal possessions insurance. If you would like to speak to an insurance and mortgage broker in Bristol, Bath and the UK, contact us today at Tanner Financial Services for a friendly chat.
Buildings insurance covers the cost of repairing damage to the structure of your property. Garages, sheds and fences are also covered, as well as the cost of replacing items such as pipes, cables and drains.
Your insurance should cover the full cost of rebuilding your house. This also includes the costs of demolition, site clearance, architects' fees and alternative accommodation.
Buildings insurance will be a condition of the mortgage if you buy a house using a mortgage. When buying a house, you should take out buildings insurance when you exchange contracts. If you sell a house, you are responsible for looking after it until the sale is completed so you should keep your insurance cover until then.
Buildings insurance isn't compulsory when you own a property outright but it is advisable. Think about how you would afford to rebuild your house if it were damaged or destroyed.
For more information about our buildings insurance and mortgage broker services in Bristol, Bath and the UK, contact us at Tanner Financial Services.
Home contents insurance covers the cost of replacing your belongings in your home if they are damaged, destroyed or stolen. As a general rule, your ‘contents’ are the items that you would take with if you moved home. These include but are not limited to:
Contents insurance can be bought as a stand-alone policy or as part of a combined home insurance policy with buildings insurance.
Personal possessions insurance is a policy that protects your belongings from loss, theft or accidental damage when they are out of your home. When you buy home insurance, possessions insurance is usually an optional extra that is not included as standard.
We carry a lot of important things with us when we leave the house, such as mobile phones, wallets, laptops and keys, and a personal possessions insurance policy can ensure that you are financially covered for the loss, theft or damage of these items if it occurs outside of your home.
If you regularly have expensive items on your person when you leave the house it may be worth considering possessions insurance as it can give you better value for money and more flexibility than contents insurance.