Wednesday, 20 March 2013 09:43

Reasons For Property Cover

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Why is home insurance needed?


As our homes are the most important asset that we are ever going to own, it is imperative that adequate home insurance is taken out for your property. You will never know when you will need to claim under your home insurance so it is best to make sure you are covered properly.
Statistics show that 1 in 4 people in the UK will get burgled during their lives but people still choose to ignore this and don't get any protection whatsoever. Other unforeseen circumstances such as floods and fire may also wreak havoc among your possessions and by not getting covered properly you are taking a big risk in losing out financially.
There are two types of home insurance; 

  • Buildings insurance 
  • Contents insurance. 

Buildings insurance is a mandatory condition when taking out a mortgage and lenders will insist that this insurance is in place. This will protect the house being damaged from events which cannot be repaired.
Contents insurance is not usually a mandatory requirement when taking out a mortgage, but it is in our own interest to secure your personal belongings as you have worked hard for them and if anything was to happen then you will be kicking yourself. 


Remember, there are many home insurance providers out there and looking for the best cover for your house is important because after all it's your possessions and looking after them should be paramount

Read 26217 times Last modified on Wednesday, 20 March 2013 15:13


The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

Jonathan Hales

Independant Financial Advisor

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