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Home Insurance Guide
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Posted On :
Jun-18-2009
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Article Word Count :
466
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There are many home insurance products available, and it is important to consider your needs before just going for the cheapest possible deal.
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There are many home insurance products available, and it is important to consider your needs before just going for the cheapest possible deal.
Most mortgage providers will require you to have buildings insurance to cover the cost of rebuilding your home in case of disaster. Mortgage companies lend you money in the knowledge that if for any reason you fail to make your payments they can take your house as an asset, so for this reason they will insist that the asset is insured.
You should make sure that your buildings cover includes the cost of alternative accommodation in the event that your home is uninhabitable. It is also worth checking whether the policy covers the cost of rebuilding or if it gives the market value of your property.
As well as the physical structure like the walls and roof, your buildings insurance policy should cover any permanent fixtures in your home, including for example your bathroom suite, fitted kitchen cabinets and garden shed. Essentially, the things that you would not or could not normally take with you if you moved home should be covered by your buildings insurance policy.
The items within your home that you would take with you if you moved need to be covered by separate contents insurance. You do not have to have contents insurance, but a basic policy which covers your furniture, clothing, electrical appliances and floor covering.
If there are any very expensive items in your home then some standard contents insurance policy will exclude them. On the other hand, some policies will even cover you against being sued if some failure on your part to maintain your home leads to a visitor being injured.
As with buildings insurance, the cheaper contents insurance policies do not always give the best value. For example, cheaper policies will give you indemnity insurance, meaning they will give you the market value of the goods that you are claiming for, but that might be a lot less than what you will have to pay to get new replacements. Unless you would be content to replace a damaged rug with a second hand one for example, it may be worth paying a little extra for your contents insurance to get a new for old policy.
Both buildings and contents insurance will generally cover you for damage caused by fire, storms, flood, theft and vandalism, but higher levels of cover are available if you feel that it is necessary, for example accidental damage.
There are a number of price comparison websites that will help you to find the best deal for you, and with so many different products available you are sure to find a policy with the appropriate level of cover to meet your needs.
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Article Source :
http://www.articleseen.com/Article_Home Insurance Guide _1172.aspx
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Author Resource :
It only takes a few moments to get our home insurance quotes online with Kwik Fit Home Insurance.
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Keywords :
Finance,
Category :
Home and Family
:
Home Security
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