February 23, 2024

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Designing Homes With Heart

Figuring Out Building and Contents Insurance

If you have recently purchased a new home then you are most certainly looking for a home insurance policy to insure your house. As a result of this, it is very likely that you have very solid questions in your mind about the whole concept of insuring your home. The most relevant and potent question that you must be pondering over is whether a buildings only home insurance product is enough or should you choose between a contents only home policy and comprehensive home insurance policy?

Of the three mentioned above, it is more than evident that you would be better off insuring your house with comprehensive home insurance simply because it protects both the building as well as the contents inside the building. Here is some very pertinent and relevant information regarding your quest to find the best way to insure your home.

What is a comprehensive home insurance product?
A comprehensive home insurance product is a policy that is designed to combine the coverage of buildings only policies and contents only policies. Therefore, if you get your home insured with a comprehensive policy, you would be protecting both your structure and the contents inside the house. As is only logical, you should take note that since these policies provide a lot more than any one of the other two variants, they tend to be more expensive when compared against them.

What are the most important features?
There are many products in the market that fall under this category. This means that the variation in terms of individual products would also be significant. Even so, the following are some features of quality comprehensive home policies.

1. The building’s sum insured for a good policy would be in the range of 500,000 pounds, which is more than enough compensation even in situations where something major occurs to the structure of your house.

2. Along with this, the comprehensive variant would also provide cover of 50,000 pounds for the contents inside your house. This cover also includes free coverage for items like audio, visual and computer equipment. Therefore, you not only protect the day-to-day items but easy to damage items like audio visual and computer equipment.

3. Also, most high quality comprehensive home insurance policies would have, at least, a cover of 2,500 pounds for theft from outbuildings and high risk single article damage each. Although these are situations that are a fairly common threat for people with independent houses, there may be situations where they apply to apartment owners as well.

4. Finally, if you are the kind who keeps business equipment at home, then you would appreciate the 5,000 pounds worth of cover for such items that most good building and contents insurance policies provide.

The above mentioned features are only a few of the many that you can find in a good comprehensive insurance policy. A quality building and contents insurance policy can also contain cover for money and credit cards, frozen food, child’s university contents and garden.