Standard Home buildings

Buildings Insurance is always required when you take a mortgage out against  a property you wish to purchase. This is to protect you as the home owner and the lender from financial loss. For example, if your house was set on fire and no insurance was put in place and the property had to be built from scratch, this would cost thousands of pounds of which you the home owner will not be able to afford. Therefore all mortgagees will insist on Buildings Insurance to protect the loan borrowed to you.

Buildings Insurance helps protect your investment and gives you financial protection against damage to your home caused by disasters and beyond the structure. Buildings Insurance also protects you for liability and legal responsibility for injuries from your property, you, members of your family and even your pets.

Typical Home Buildings cover will include: Fire, Lightning, Aircraft, Explosion, Earthquake, Impact, Riot, Civil Commotion, Malicious Damage, Storm, Flood, Burst Pipes, Subsidence and Accidental Damage. Home Buildings Insurance also includes Liability cover e.g a tile falling of your roof and hitting a passer by on the head. This usually gives you up to £1 million cover. General wear and tear is not covered, but detached structures such as tool sheds and garages are covered with a standard home insurance policy.

Additional living expenses

This cover comes into effect if your home is affected by a disaster such as a fire or a major storm, your home could be completely destroyed. Where will you stay? This aspect of home insurance pays your expenses while living away from your home while it is being repaired. Covered expenses include hotels, rent and other living expenses.