Home insurance - What's covered?

Most people have some kind of home insurance. Seeing as it's probably the most valuable asset most people will ever own, it's sensible to have some form of protection against it, just in case the worst happens.

Many first time buyers will be offered home insurance when they apply for their mortgage. It is often the case that the insurance they are first offered is not the cheapest available. Shopping around is therefore a good idea, as there are plenty of sources available that offer cheap home insurance.

Those who are just about to purchase a property will probably have little knowledge of home insurance. Arming yourself with a little knowledge about the subject will mean you can make a better informed decision regarding the options that are available to you.

So what are the types of insurance available and what do they cover?

Contents Insurance
Items in your house that are not considered to be permanent fixtures will be covered with contents insurance. Examples of non permanent fixtures include electronic goods, clothing, furniture etc.

Insurers will also cover items outside the property, such as garden furniture and plants.

Loss of damage to food is also covered. This is especially useful if your freezer is affected by a power cut or a breakdown.

All items are insured against the following:
• Fire
• Theft
• Storm Damage
• Floods

Building Insurance
Insurance for the bricks and mortar of your property will protect it against the following:
• Earthquakes
• Subsidence
• Flood
• Fire
• Storm damage
• Rebuilding costs

All permanent fixtures to your property are covered by building insurance. This includes items such as baths, toilets, fitted kitchens etc.