Buildings Insurance
What is buildings insurance?
Buildings insurance covers the cost of damage to the structure of your property including roof, walls, ceilings, floors. doors and windows. You can also include outdoor structures such as garages and fences within your buildings insurance policy.
This kind of policy can also cover permanent fixtures and fixings, including interior decoration and under ground pipes, cables, tanks and drains which you may be responsible for from your home to the mains supply.
Buildings insurance policies normally covers the cost of fully re-building your property. This would include costs such as demolition, cleaing the site and architects fees. There are many ways in which your property can be damaged.
It could be the result of one of the following;
- fire
- explosion
- bad weather, including lightning, storms and flooding
- earthquakes
- theft or attempted theft
- malicious damage
- vandalism
- subsidence
- Falling trees, lamp posts, aerials or satellite dishes
- impact of vehicles or aircraft
- freezing or bursting of any part of the plumbing system
If for any reason you have to leave your home due to any works being undertaken, the cost of alternative accommodation will be provided through your buildings insurance policy (although normally only for a limited time). To cover the inside of your property against any accidental damage you can extend your buildings insurance for an extra cost, however anything that is not listed throughout the policy is not usually covered.
If you own the property you can also be insured against legal responsibility should anyone die or be injured whilst visiting your property.
If you are an owner occupier with a mortgage it will be a condition of the mortgage that your home is insured. Your mortgage lender will make sure that the amount of cover is sufficient to meet the outstandin amount of your mortgage. However, you should make sure thaty this is enough to cover the fill re-building costs of your home.
Insurance for Landlords understands what is required for your buldings insurance policy and will provide all the information that the lenders require whilst providing you with the most suitable policy for your building.
If you would like to discuss residential buildings insurance or any other insurance, please call us on 01732 471699 or email us insurance@mortgagesforbusiness.co.uk and one of our experienced insurance team members will contact you shortly.