Searching for home insurance can be a difficult task and it’s important to get the right type of cover, giving you the peace of mind that your home and possessions are protected.
That’s why we’ve put together this list of commonly-asked questions, to help you to get to the bottom of the jargon and pick the cover that suits you.
1. What does home insurance cover?
2. What does buildings insurance cover?
3. What does contents insurance cover?
4. How much buildings insurance do I need?
Buildings insurance is based on the estimated cost of rebuilding your home should it be destroyed. This should include everything from the cost of clearing the site and all professional fees, to the purchase of materials to rebuild the property and any labour costs.
It’s important to note that this amount will differ from the market value of a property, and could be higher or lower. This is because the rebuild value accounts for the correct cost of the building itself, rather than the desirability of the land it’s built on.
If you want to work out what level of buildings insurance you need, you can use the Association of British Insurers’ (ABI) online calculator.