Household insurance is an essential part of the home owning process. In the majority of cases your household insurance is split into two categories, buildings and contents. Obtaining these two elements can be done separately, particularly if you want to find cheap policies. The following information will provide information on how to find cheap insurance and also what is covered by contents and buildings insurance.
Buildings insurance is self explanatory really, it covers the building itself from a range of different circumstances. Whilst covering the actual building, typically buildings insurance will also cover some of the permanent fixtures such as baths, showers and kitchen elements. In addition the buildings cover will normally apply to certain outbuildings, particularly garages and sheds.
Normally cover will only be provided for certain circumstances, such as fire, flooding or other acts of god; although it should be noted that the insurers will only pay out to the cost of rebuilding the house rather than its market value. Essentially, buildings cover is for the structures on the property and not the land on which the property sits.
Typically most mortgage lenders will insist that you take some form of buildings cover. Naturally they will offer you a provider of their own or one that is affiliated to them. Understandably, shopping around is your right as a consumer and if you want to find cheap household insurance you do not have to take the options from the recommended provider.
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