Protecting yourself against the cost of damage to your property by having a building insurance policy is a must. Although most owners do insure their property, they often fail to upgrade the sum insured in line with rising costs.
The cost of your property could rise by adding additional extensions or with home improvements. In the event of having to make a claim, the sum paid by the insurer may fall short of the actual cost of repair or rebuild. Comparing home insurance quotes online will help you decide on the right level of cover.
Building insurance will cover the structure of the house together with all the permanent fixtures such as bathroom suites. Most policies will also provide cover for other structures attached to, or in the grounds of, the main property. This will include garages and other outbuildings, but generally not walls, fences or gates. Whatever your lifestyle, there will be an insurance policy to suit your needs.
Buildings Insurance Policy Benefits
A building insurance policy can provide cover for -
- Damage
- Fire
- Lightning
- Storms
- Flooding
- Theft
- Vehicle collisions
A comprehensive buildings insurance policy will provide cover for the cost of alternative accommodation if your home was destroyed or became uninhabitable.
Your cheap building's insurance policy can also include personal liability cover. This policy will protect you in the event of an action against you for third party injury or damage caused to another person's property. You can buy a policy that offers emergency call out cover. This will allow you to claim for the call out fee of a tradesman to repair any damages. Another plus point of taking out buildings insurance is the service many insurance companies provide through a helpdesk telephone number.
Calculating your Insurance Cover
When searching for your buildings insurance quotes you will be asked to decide on what excess you are willing to pay. This is the sum of money that you will be required to contribute to the cost of each claim. Make sure you have included everything within the sum insured. This sum is the total value of your building and fixtures. This is the maximum that the insurer will pay you in the event that your home is completely destroyed and has to be rebuilt.
A cheap buildings insurance policy requires some calculation. Many insurance companies provide an online calculator that will help you to do this. For comprehensive cover you can include the potential cost of site clearance and the surveyor and any architect's fees. Many insurance companies offer an index linked policy this keeps your sum insured in line with inflation.
