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Protect the Shell of Your Home With Buildings Insurance Cover

Jul 1, 2008
Anyone who takes out a mortgage will have no option but to take out buildings insurance cover. While it is compulsory and the mortgage lender will ask that you protect the outer shell of your home, you do not have to take cover from the lender. In fact by comparing quotes you will be able to save a huge amount of money on the cost of insurance and get the best deal. The easiest way to compare the cost of insurance is to go with an insurance broker and allow them to search for insurance on your behalf.

Buildings insurance cover would protect the outer of your home against damage. The amount that you want to insure your home for is the amount it would cost to totally rebuild your home from scratch. This does not take into account how much it would cost to replace the contents in your home such as your belongings. However a policy would generally cover fittings in the home that were not movable such as toilets, baths, sinks, fitted kitchens. In general anything would be covered that you cannot take with you if you should decide to leave the property.

Along with the outer shell of your home being insured with buildings insurance a policy would extend to other things. Such things as greenhouses, patio furniture, sheds and garages along with paths and walls are all usually included in the policy.

It is essential when shopping around for your insurance that you check what is and is not included in the policy. Some policies will include damage by such as from flood or fire, however some policies might ask that you pay extra for flood damage particularly if you live in an area prone to flooding. Subsidence is also generally included as is damage caused by vandalism or theft. When checking what is and is not covered in your policy look for accidental damage. This could cover pipe work underground, broken glass in windows and accidental damage to bathroom fitments. The majority of policies will exclude damage done by home improvements so always check for this.

With any type of insurance there will be a lot of exclusions and conditions set out in the policy so however boring it is the small print needs to be checked thoroughly before taking on the cover. Never just assume that something would be covered unless it actually states that it is you might not be able to claim on the cover if needed.

There will always be a certain amount that you will have to payout before the insurance company will pay on your buildings insurance cover. This is called the excess and the sum you have to stand to will vary. You need to check to make sure of how much this would be before taking on the policy. Usually the excess can be in the range of 50 to 100, however if you want to keep down the cost of your policy you could offer to payout more. However you would have to bear in mind that if your policy included breakages to glass in doors and you claimed on this then you would have to stand to the excess so it might not be worth putting in a claim.
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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