Whether you live in a five-story mansion, or a cosy city flat, it’s important to protect your abode. The loss of all, or part, of your home could be disastrous, so you must insure your property – here’s why:
Insurance will save you money
What would you do if you house was completely destroyed? If you’re not sure, it’s time to take out home insurance from a reputable company like HomeServe. This could save you money and will provide you with a financial safety net if an emergency occurs. Your house should be insured for the full rebuilding cost including an allowance for architects, surveyor’s fees, legal fees and demolition costs, so make sure you read the small print of your buildings insurance policy.
Contents cover will give you peace of mind
There are two main types of home insurance; buildings insurance and contents cover. While buildings insurance protects the physical structure of your home, contents cover will take care of your belongings. Reputable companies will provide you with up to £50,000 of contents cover; however, if you require a higher sum, you must request it. The amount of contents cover should cover the total replacement cost of all your belongings, if you had to replace them as new today.
Insurance will protect high-risk items
Do you own expensive items, such as unique pieces of art or irreplaceable coin collections? If so, these are considered high-risk items and are well-worth insuring. If you have an item worth £1,500 or more, most insurance companies will also specify this item on the policy for you – giving you additional peace-of-mind. Remember, thieves operate in rural and urban areas, so it’s important to protect your property in any way you can.
Insurance will cover legal expenses
The right insurance policy can cover your legal expenses and will shield you against heavy-handed employers, litigious neighbours and cowboy builders. It will help you fight your corner, without financial pressures and will ensure you feel confident in court. If you decide to add legal cover, however, always clarify what type of work is covered and whether the insurer will let you use a solicitor of your choice – as some allocate legal professionals to you.
It’s ideal for landlords
With the economy in a turbulent state, many people are renting out the properties they can sell. If this sounds familiar, don’t forget to take out landlord insurance with a well-known supplier. This will protect your property from a wide range of incidents and emergencies and will safeguard your business from unruly tenants. Certain policies will also help you meet your gas safety obligations and will keep you on the right side of the law.
Find out more about general insurance policies today and take out one that suits your wants and needs.