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What Types of Home Insurance Cover Should You Buy?

There are two main types of home insurance cover that you may purchase: buildings insurance and contents insurance. Buildings insurance covers the actual structure of your home including the roof and walls, while contents insurance covers everything inside the home such as possessions, furniture and audio equipment. Sometimes an insurance company will allow you to group the two policies together, eliminating the need to purchase each one separately. Other times, an insurance company may give you contents insurance free of charge if you purchase a buildings insurance policy with them.

Buildings Insurance

Buildings insurance covers every permanent structure of your home such as floors, windows, walls, the roof, electrical wiring and plumbing. Additionally, the land on which your home sits may also be covered, along with semi-permanent structures inside your home such as a bathroom suite or fitted kitchen. Depending on your living situation, you may consider purchasing buildings insurance that covers outdoor structures including gates, patios, fences, greenhouses, garages, driveways, sheds or even your tennis court or swimming pool. Essentially, anything that you are not going to take with you if you move off of the property can be covered under buildings insurance. Some policies may cover the cost of an alternative living situation should your property be deemed temporarily uninhabitable, such as in the event of fire damage.

Contents Insurance

Content insurance is used to protect items found in your home that you would take with you if you moved, but within reason. Each insurance company will have a different set of rules regarding what is and what is not covered, but a typical contents insurance policy will include furniture such as dining tables, desks and sofas; perishables such as food that is in your kitchen cupboards, freezer or fridge; personal belongings like DVDs, CDs, books, ornaments and videos; decorations including rugs, curtains and carpets; electronics such as electric kettles, washing machines and other small appliances, computers, televisions, MP3 players, DVD players, audio equipment and game consoles.

While each policy will vary, most insurance companies will compensate you if any of these items are damaged or lost as the result of a flood, earthquake, explosion, lightning, fire, storm or theft. Additionally, you may receive compensation if any of the items are accidentally damaged, cover which typically applies to glass furniture, pictures, mirrors or ornaments, as well as home entertainment equipment. Should you require a more comprehensive policy, you may purchase cover for other items such as photographic equipment and laptops outside of your home.

You may also be eligible for special occasions cover, a policy that increases the amount of cover by up to 20 percent during a family or seasonal event such as a family wedding, the birth of a child or Christmas. Essentially, special occasions cover provides extra protection during those times when you will have more valuable items within your home, such as presents for Christmas or for a new baby.

Need to buy a policy now? Take a look at the latest offers from Churchill home insurance.