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Buildings and contents insurance
Some homeowners who have decided that they need household insurance
cover may not be aware that there are actually two different elements
to choose from.
This distinction could potentially confuse a number of buyers,
leading them to be mis-sold an inappropriate policy - all because
they did not recognise the distinction between building insurance,
contents insurance and combined home building and contents insurance
deals.
What is the difference between building insurance and contents
insurance?
There is a clear difference between these two types of home insurance
protection.
Building insurance deals cover the external elements of the house
as well as the house itself.
So if the chimney falls in or the property's foundations are undermined
by flood damage, this may well be covered by the homeowner's building
insurance policy.
In more extreme cases, if the property itself is irreparably damaged
as a result of subsidence, then the building insurance policy could
again be called into action.
By contrast, home contents insurance cover relates to items held
within the house.
Should burglars break into a property and clear it of family heirlooms,
antique crockery and first-edition books, then it may well be time
for the homeowner to call on their contents insurance policy.
Can I buy building insurance and contents insurance separately?
It is possible to find home insurance companies that sell building
insurance cover and home contents insurance cover independently
of one another.
Alternatively, buyers who wish to protect their homes against the
widest variety of possible mishaps may prefer to get a cheap home
insurance quote by buying a combined home building and contents
insurance package.
Whichever home insurance option the homeowner chooses, though,
they can rest assured that they may be eligible for financial recompense
should the worst happen.
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