When purchasing home contents insurance it is important to know the basics. There are two types of home insurance: home buildings insurance to protect the actual structure of your home, and contents insurance to protect possessions inside your home. Many home insurance companies will recommend getting both building and contents insurance to fully protect your assets.
Contents insurance will protect the policyholder for any losses or damage to personal possessions present in the home. Typically, these items will be covered by home insurance for repair or replacement, on a new for old basis. Contents insurance will provide cover for damage to electronic equipment, such as television sets, office equipment, audio equipment, etc. However, usually contents insurance will require additional cover for more valuable personal belongings. This type of home insurance can be personalised to protect items such as jewellery, watches, computers, cameras, and cash. These items are at a higher risk for theft, which is why most home insurance companies do not offer this cover as standard to contents insurance.
Typically, for most home insurance companies, buildings insurance will cover the walls, paths, drives, patios, fences, terraces, garages, as well as fixtures and fittings, including pipes. This type of home insurance provides cover for fire, storm, and flood damage. Another benefit of building insurance is that some home insurance companies provide for alternative accommodation during repairs in the event the home of the policyholder is unsuitable to live in.
Additional cover, such as accidental damage or home emergency cover, may also be of interest to those in search of home insurance. Home emergency cover protects you against the cost of emergency repairs to make your home safe and secure and prevent further damage to your property following an unexpected event, such as a gas leak or a break-in. Accidental damage insurance is another add-on to most home insurance plans and provides protection for ?do it yourself ? mishaps or damage caused by children or pets.