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Getting Adequate House Protection Insurance

Apr 23, 2008
Having adequate house protection insurance to cover the repair and costs of rebuilding and restoring your property in the even of damage is so important. Many people these days have to sadly face increasingly unfortunate occurrences such as flood, storm damage and fire that could threaten their home and cause severe damage. If you do not have suitable insurance to cover this then you could find yourself having big financial difficulties.

Two categories of home insurance exist that are available to you and these are buildings cover and the optional contents cover. One of the most important things to remember when purchasing insuring for your property is to make sure you get enough cover to meet the full rebuilding cost. These two types of home insurance can be purchased separately, but you will often find that the company you choose to go with can offer you a deal, if you purchase them together, so it may actually save you money to have them under the one policy. If you live in a rented house or flat then the buildings insurance will usually the responsibility of the owner of your home but, make sure to check the terms of your contract. Contents insurance will usually still be your responsibility.

Buildings insurance will cover the structure of your property, including any permanent fixtures such as bathroom fittings and fitted kitchens. You will often find that sheds, greenhouses and garages are usually covered but be sure to double check this. Policy pricing and the amount to be paid out depend on the property such as its age, the location and building materials that have been used.

Exclusions tend to include storm damage that occurs to fencing and gates and any frost damage. The amount of cover that you get should be equivalent to the cost of rebuilding the property, known as the sum insured. It is the most your insurer will pay out should your house need repairs due to damage.

The cheapest contents insurance available to you is indemnity insurance where the damaged item will be replaced with one of the same age. A new for old policy is also available but as you might expect, costs a little more as you are replacing your old damaged items with brand new ones. The first rule of buying house protection insurance for your home is to not assume that certain items you own are automatically covered and to avoid under insuring your contents.

Be sure to calculate the correct amounts for all of the contents and remember that should you ever extend your property to make sure your policy reflects the changes you make. Ways that you can help reduce risk of theft include installing a burglar alarm, joining a neighbourhood watch scheme and installing security lights to help keep your property safe. Fitting and maintaining smoke alarms is also a good way to help reduce the costs of your policy as your property is then deemed to be much safer and less at risk of fire damage.
About the Author
David Thomson is Chief Executive of BestDealInsurance an independent specialist broker dedicated to providing their clients with the best insurance deal on their home insurance, car and life insurance.
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