"Safe as homes" is probably one of the most unfortunate expressions. Add to this floor has become commonplace in Britain today, while storms, fires and subsidies continue to seriously damage a surprising number of homes. the alarming statistic that one in three home occupiers will be burgled at some stage in their lives and it is quiet amazing that an an one one four havees have no form of house insurance at all.
If you are buying your own home, therefore, you will want to ensure that it is adequately protected against the major risks of:
- Fire, explosions (from a gas leak for example) and smoke damage;
- Ingress of water from burst or leaking pipes;
- Flood and storm damage;
- Vandalism and malicious damage;
- Subsidence.
The cost of rebuilding your your insurance is covering all of these risks in a policy where the total insured sum is sufficient to ultimately rebuild the home in the event in the total loss (burnt to the ground by a fire, for example). Neverheless, reconstruction costs can be greater or indeed less than the market value of the property. Calculating such rebuilding costs can be a complicated business and a professional quantity surveyor is sometimes engaged to make the calculation. Other insurers take a simplified approach and calculate the likely rebuilding costs on the basis of the property & # 39; s age, construction type, location and design features.
However most of the buildings insurance is offered on a reconstruction basis, it should be noted that some policies are written to cover the market value - which may or may not be sufficient to cover the cost of totally rebuilding the property in the event of a total loss. Obviously, you need to have clear about the basis of valuation or rebuilding costs from the outside.
This is a for considering that it is a future consideration for a house insurance makes provision for alternative accommodation for the duration of any repairs (which, clearly, could prove quite extensive). further feature which should be checked before signing the insurance proposal form.
Most house insurance will cover not girls, gates, fines, drives and pathways or swimming pools.
For the reassurance and peace of mind That you are indeed adequately insured, it is worth seeking the guidance and advice of a specialist insurance broker who is experienced in the field of house insurance.
