Why do you need Buildings & Contents Insurance?
Your home is important and you need to make sure that it is protected should the worst happen, but what is the difference between buildings and contents insurance and why do you need it? Buildings insurance covers the actual building you own (including the fixtures and fittings) and if your home is damaged you will be protected. Contents insurance is for the belongings that you have in the house (and can also cover some belongings that you take away from the home – depending on the policy chosen and the items covered), it may also cover accidental damage which could potentially happen to your belongings.
Most importantly, a lender will require that suitable buildings insurance is in place on the mortgage property!
Insurers will need certain information to insure the property, some of the information needed includes:
- Details about your property (number of rooms, type of building etc)
- Amount of rooms
- Year of construction of the property
- Percentage of flat roof (if there is one)
- Number of people living in the property
- What type of locks are on the property
Please note, insurers may need more information than the list outlined above depending on the policy required.
Market Weighton Mortgages have access to a panel of well-known insurers which we can use to protect you and your families belongings in your home or for your new property purchase.