North Leeds Plumbing & Heating – Home Improvement and DIY Advice

When you take out a mortgage you will be obliged by the lender to take out buildings insurance. This covers you in the event of the property suffering severe damage through fire, flooding, subsidence or some other catastrophic event and it having to be rebuilt. It covers the lender too, of course and is effectively a security on their loan to you.

Contents insurance, on the other hand, is not obligatory whether you have a mortgage or not, but it is highly recommended that you take it out. This type of cover protects you against theft, loss and damage to your possessions or the non-fixed items in your home, such as jewellery and electronic goods. Some types of contents policies treat the garden as another room, so the shed and any non-fixed items can be covered against loss and damage.

A contents policy may well also cover your possessions when they are taken out of the home, such as cameras and handbag. If you take them on holiday with you, however, the contents policy will probably not cover them and you’ll have to take out separate travel insurance. Check the details of your policy or give the insurer a call.

Home contents insurance, if taken out along with buildings insurance from the same provider, may result in reduced premiums and it’s also a good idea to shop around for the best deals. Even with buildings insurance, you don’t have to accept the policy suggested by the lender.