|Advice on Home Insurance|
You need to make sure you have adequate insurance for your home.
You'll need Buildings insurance and Contents insurance. It's usually cheaper to get both as a package from one supplier.
Buildings insurance protects the fabric of your property in the event of damage. This usually includes the structure and any permanent fixtures (not carpets). Buildings insurance is usually a requirement of your mortgage supplier. If your house burns to the ground your building insurance will pay to have it rebuilt.
The most important thing is to make sure you have adequate insurance. If you are under insured you may find when making any claim you only receive a percentage of your losses.
Building insurance is usually based on the cost to re-build the property(not the Current market value) It can be calculated by having it professionally surveyed or your insurance company can make an estimate based on it's size.
Contents refers to all your personal posessions. It's important to make a full list of ALL your possesions and estimated value. If you just go for the cheapet policy this may not reflect the true value of your posessions