As a leading whole-of-market mortgage broker based in the beautiful coastal town of Bournemouth, we understand that securing your dream home is just the first step. Protecting that investment with comprehensive buildings and contents insurance is equally crucial. This guide will help you navigate the ins and outs of buildings and contents insurance, ensuring your Bournemouth home is safeguarded against unforeseen events.
What is Buildings Insurance?
Buildings insurance covers the structure of your home, including walls, roof, floors, and any permanent fixtures and fittings, such as fitted kitchens and bathrooms. It protects against damage caused by events like fire, floods, storms, and subsidence.
Key Features of Buildings Insurance:
Coverage for Structural Damage: Protection against damage to the physical structure of your home.
Alternative Accommodation: Costs covered for temporary housing if your home is uninhabitable.
Property Owner’s Liability: Legal expenses if someone is injured on your property.
What is Contents Insurance?
Contents insurance covers your personal belongings within the home. This includes furniture, appliances, clothing, and other personal items. It protects against theft, fire, flood, and accidental damage.
Key Features of Contents Insurance:
Protection for Personal Belongings: Coverage for your possessions inside the home.
New for Old Replacement: Damaged items replaced with new ones of similar quality.
Accidental Damage Coverage: Protection against unintended damage to your belongings.
Why Bournemouth Homeowners Need Buildings and Contents Insurance
Living in Bournemouth comes with its unique set of challenges and benefits. Here are a few reasons why comprehensive buildings and contents insurance is essential for Bournemouth residents:
Weather-Related Risks: Bournemouth’s coastal location makes it susceptible to weather-related damage. Buildings insurance ensures you are covered for these events.
Theft Protection: Bournemouth is a vibrant town, but like any area, it can be prone to burglaries. Contents insurance provides peace of mind by protecting your valuables.
Property Investment: Your home is likely one of your most significant investments. Protecting it with the right insurance policies ensures long-term security and financial stability.
Optional Extra Benefits
In addition to standard buildings and contents insurance, there are several optional extras you can add to your policy to enhance your coverage:
Personal Belongings Cover: This extends your contents insurance to protect personal items when you’re away from home, such as mobile phones, laptops, and jewelry.
Home Emergency Call-Out Services: This covers the cost of emergency repairs for issues like burst pipes, boiler breakdowns, and electrical failures, providing peace of mind and quick resolutions to urgent problems.
Bicycle Cover: If you own bicycles, this add-on ensures they are protected against theft and damage both at home and while you’re out and about.
Buildings Insurance and Mortgages
When taking out a mortgage, buildings insurance is not just recommended—it’s compulsory. Lenders require this insurance to ensure the home can be repaired or rebuilt in case of significant damage, thereby protecting their security. Since the mortgage is secured against your home, having buildings insurance guarantees that the property maintains its value, safeguarding both your investment and the lender’s interests.
How to Choose the Right Insurance
As a whole-of-market mortgage broker, we recommend considering the following factors when choosing buildings and contents insurance:
Coverage Limits: Ensure the policy covers the full rebuild cost of your home and the total value of your contents.
Exclusions: Understand what is not covered by the policy to avoid surprises during a claim.
Optional Extras: Consider additional coverage options, such as accidental damage or high-value item protection.
Premium Costs: Compare quotes to find a policy that offers the best value for your needs.
Our Expertise in Buildings and Contents Insurance
At Key To Mortgages we pride ourselves on offering tailored insurance solutions that meet the unique needs of Bournemouth homeowners. Our approach means we can compare policies from various providers, ensuring you get the best coverage at the most competitive price.
Final Thoughts
Securing comprehensive buildings and contents insurance is a vital step in protecting your Bournemouth home. Whether you are a first-time buyer or an experienced homeowner, the right insurance policy provides peace of mind, knowing that your investment is safeguarded against unexpected events.
For personalized advice and to explore the best insurance options available, contact us today. Let us guide you through the process and help you find the perfect policy for your needs.
Contact key To Mortgages for more information on buildings and contents insurance.
We are here to help you every step of the way.
As with all insurance policies, conditions and exclusions will apply.