what type of building and contents insurance should i get?

Question

what do i need? what type of cover? i live in a area where there i zero crime, so should i reduced the amount of cover?? thanks.

Answer 1

Speak to your agent about the best coverage limits. You'll definitely want fire and theft, plus liability.

Be sure to get replacement cost coverage on the building and contents.

If you use an insurance broker, rather than an agent for an individual company, you'll get better quotes.

Answer 2

Well your buildings insurance must cover the rebuilt cost if your house was to be demolished by accident. As a Mortgage and Insurance Consultant I arrange buildings and contents for a living. You must already have buildings insurance if you own a house, completion of sale cannot take place without it. Contents will depend on how valuable your posessions are. Example on a average 3 bed terraced house (not in a flood zone or next to an airport) valued at £160,000 your buildings insurance should be not more than £20 per month (this is just a loose guidline). If you add contents up to the value of approximately £30,000 it would be around £32 per month (again a rough guidline). Hope this helps.

Answer 3

You need a Buildings policy that will pay for the total rebuild of your home if it falls down. If you do not know the rebuild value, some companies offer unlimited cover to take away the guess work.

Contents cover in a low crime area, it makes no odds! What if you have a fire?

You should make sure you do not under-insure, as if you do, any claim you make will be halved!

You are more likely to claim for accidental damage so ensure you have this cover.

Answer 4

Try www.moneysupermarket.co.uk

You complete a few questions about your propety (location, type, age etc) and then it brings up a number of quotations and links to the insurers website.

Many insurers offer heavy discounts on the premium if you buy both the home and contents insurance with them as a package and may also guarantee your premium for a few years so watch out for this.

Answer 5

there are many different types of insurance out there, I would advise you contact your bank that carries your home loan if you have one, and see what amount of coverage they require, if you become under insured these could cause problems with the loan company, after talking with them then you can call the insurance company and adjust your coverage.