Buildings & Contents Insurance Advice
Buildings and contents insurance from Simplicity Financial Services, we are whole of market insurance advisers based in Sheffield but able to serve all of the UK. We offer great rates and superb cover for your home and business cover from many of the UK's leading insurers.
Theft, Fire, Flooding! No-one likes to think of these things happening to their home, but I am sorry to say
they are all a reality which we face everyday.
A lender will stipulate as a mortgage condition
that adequate buildings cover is in place before
any money is issued, however, contents insurance
is purely for your benefit. All things considered
though, you have worked too hard to build up an
array of personal possessions, to loose them in
one foul swoop. Therefore, it is essential that
you also adequately protect your possessions with the correct buildings and contents insurance.
The first thing to decide when arranging buildings and/or contents insurance
is what main areas you want covered:
Buildings
Covers the structure of the building. As a rule
anything that is attached permanently to the structure
or is part of it would be covered by the buildings
insurance. You may need to get a ‘rebuild
cost’ to determine the amount of insurance cover required
although some insurance policies no longer require this.
Contents
This covers all the contents of your property
against certain risks. A lot of people under estimate
the value of their contents. Think how much it
would cost to replace everything you own, remember
clothes etc.
Personal Possessions
Covers your possessions when outside of the property.
Examples of the sort of things you may want to
ensure are covered would be watches, lap tops
etc.
Legal Expenses
Covers you for against the costs of taking legal
action. For example it may be possible to claim
on this insurance if you were to take legal action
as part of a neighbour dispute.
Once you have decided what areas you want to cover you need to look at how you want the insurance cover set up. Options you can change are:
Insurance Excess
When you make a claim you need to pay an excess.
This can vary from £50 to £300. The
larger the excess you agree to pay the lower the
insurance premium will be. The excess may be larger if you
make a claim for subsidence.
Accidental damage
Most insurance policies allow you to opt to cover against
accidental damage on both buildings and contents
insurance. It is advisable to cover against this
although your insurance premiums will increase.
What effects the cost of insurance?
The cost of building and contents insurance is determined by a number of factors:
Level of cover
obviously the amount of insurance cover you choose effects the cost.
Excess
the lower the excess the higher the insurance premium.
No claims bonus
similar to car insurance the longer you go without making a claim the lower the cost.
Area
Where you live makes a huge difference to your insurance premium, some areas may be subject to flooding, others may be suffer from higher levels of crime.
Type
Detached properties are cheaper whereas terraced
properties are more expensive. Your neighbours
chip pan is more likely to cause you problems
in a terraced house! The more bedrooms in the
house the higher the premiums.
Age
The older your property the more expensive it
is to insure.
Specified Items – If you want to cover specific
expensive items this may result in an increased
insurance premium.
To
discuss which insurance policy would be right for you, please complete the
Contact form or telephone
0114 276 0200 to speak to one of our highly trained insurance advisers, and we'll find you the best insurance product that is most suitable for your needs.
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