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Building and Contents Cover

Consider the financial implications of not having building or contents insurance – how many of us can afford to rebuild our property or replace its contents should something disastrous happen?

Although building and contents insurance is not a legal requirement it’s extremely wise to have it, and your mortgage company will usually insist that you have buildings insurance before they lend you the money to buy your home. If you rent a property you may also find that the rental company will insist on seeing evidence of contents insurance before you can sign a lease.

Building insurance

  • Building insurance covers damage to the actual structure of your home, such as the roof, walls, floors, ceilings and foundations.
  • The covers vary between providers, but usually provide protection against risks such as:
      • fire and smoke damage,
      • explosion,
      • earthquake,
      • flood,
      • theft or attempted theft,
      • impact by cars, animals or aircraft (including anything dropped from an aircraft),
      • subsidence, heave or landslip,
      • escape of water from pipes,
      • leakage of central heating oil,
      • falling trees or branches,
      • collapse of TV aerials or satellite dishes,
      • malicious damage caused by riots, strikes and civil disturbances.

Contents insurance

  • Contents insurance covers all the things in your home which are not part of the structure or the building, i.e. a stereo or iPod, clothing, jewellery, curtains, carpets or furniture.
  • The cover usually provide protection against risks such as theft, fire and flood.
  • There are optional benefits which you can add to your policy, i.e. accidental damage cover or personal possession cover.

Friends Financial Advisers understand how distressing loss or damage to your home can be. We will look for any restrictions within the policy, for instance on flood cover or accidental damage etc. In addition, we will check for discounts on higher excesses and annual premium payment.