Building and contents insurance made simple

16/10/2023

When it comes to protecting the things you love, the right insurance can make all the difference and when it comes to your home – building and contents insurance can provide fundamental coverage for your personal property and belongings. 

With various insurance plans and policies available on the market, we are providing this simple guide that highlights building and contents insurance, what they cover and how important they are for safeguarding your investments, whether you are a property owner or a tenant.

What is building insurance?

Building insurance is a type of coverage that protects the physical structure of a property, externally and internally. 

Building insurance typically covers damages caused by events like fire, wind, hail, explosions, and smoke damage, but can be tailored to also cover damage resulting from criminal activities such as vandalism or theft.

What’s included in your building insurance coverage are the core components of your property: such as doors, windows, roofs, floors, walls, fixtures or fittings, and radiators or central heating. In simplistic terms, building insurance ensures that everything that makes up the structure of your home is protected.

If you are a property owner, this is a vital policy to have as it safeguards your investment from intentional or accidental damage.

What is contents insurance?

Commonly issued as an extension of building insurance packages, contents insurance is a type of coverage that protects the possessions within your home. 

While contents insurance does not cover intentional damage, it does provide coverage against unforeseen events like fire, theft, and even loss of the product. The insurance will trigger a payout for the value of replacing the item or provide the market value of the item if it cannot be replaced.

Contents insurance covers a wide range of items from your electrical devices, workout equipment, and furniture to your jewellery, art, and other personal, valuable personal possessions. Depending on your specific policy, it may also extend to items like bicycles and mobile phones that are damaged on holiday or outside the home. 

If you’re a property tenant, you won’t be required to organise a building insurance policy since the structural responsibility lies with the property owner. However, contents insurance is still essential as it safeguards your personal valuables while you lease.

Why is building and contents insurance important?

Now that we’ve established the basics of building and contents insurance, it’s crucial to understand their significance as a joining package. 

Building and contents insurance ensures that the substantial financial investment in your property and personal belongings is secure and protected from natural disasters, accidental damage, and vandalism.

Insurance is your financial safety net and ensures that the cost of repairing or rebuilding your property or replacing your valuables is not a burden you have to bear alone.

Whether it’s protecting your property investment or cherished personal items, building and contents insurance offers a layer of security that everyone must consider.

B-Advised can help you secure the best building and contents insurance policy

Navigating the complex world of insurance policies can be a daunting task. This is where B-Advised, a dedicated financial advisor, can support you.

We provide transparent advice on insurance policies and financial advice, ensuring that you make informed decisions to safeguard your home, possessions, and find the most suitable coverage for your needs. 

With our guidance, you can make an informed choice and ensure that the crucial components of your home and personal possessions are adequately covered.

Don’t wait until disaster strikes; take the necessary steps to ensure your peace of mind and contact our highly qualified team.