Home Insurance
Your home is often your largest asset and your future financial stability, so it makes sense to protect it against unexpected events. Flood, fire and burglary can happen in any home along with other unexpected events and disasters and home insurance is there so you can rebuild and replace what is lost if these things come to pass.
Buildings insurance is also a condition of most mortgages, it is required so that if anything were to happen to your home the lenders financial interest is protected. It also protects you against the worst happening to your home so you are also protected should the unexpected happen.
There are two main types of insurance when it comes to protecting your home, buildings insurance and contents insurance. Both need to be considered when protecting your home as the need for one will very often necessitate the other.
Buildings Insurance
Contents insurance covers all the items in your home that do not form part of the structure of the building. This can include floor coverings, furniture, electronics like TV’s etc. If you had to replace absolutely everything in your home how much would it cost? Probably more than you think, and this is why the right contents insurance is so important.The contents of your home could be lost or ruined partially or in their entirety in a flood, fire, burglary or another unexpected event. Most contents insurance policies offer a new for old style of cover which means you will get the full replacement value of the item if you need to claim for it. Some policies also offer replacements on accidental damage and insurance for items that are used away from the home including phones, laptops, jewellery and cameras.
Knowing what you need to have covered with buildings and contents is important and then you can work with one of the experienced team at Your Mortgage Brokers to find the best insurance product to protect your home and its belongings should unexpected events happen.
