Home Insurance

Home insurance is one of the most common types of insurance product, and anyone who has a home will be familiar with it. Home insurance is usually contrasted with contents insurance, which is a related but different product.

So what is home insurance? Well, this product is also sometimes referred to as homeowners insurance, and it covers the bricks and mortar of the house. Events covered typically include things like weather damage or fire. This is sometimes called building insurance. This is contrasted, as mentioned above, with contents insurance, which covers the actual belongings inside the house from various hazards like damage or theft. These two products are often bought together at a reduced price.

When you take out a mortgage, it will typically be a requirement from the mortgage lender (bank or building society) that you have building insurance cover in place - this is because it will protect their investment. If you rent, then you would typically be more concerned with getting contents insurance to protect the contents of your home; the landlord (as the owner of the property) will be responsible for the building's maintenance, so they should be ensuring that the property has buildings insurance.

Home insurance is a product that is offered by a huge number of insurers, so it will pay to do your research before deciding who to go with. With so much information out there, then it can be instructive as a first step to use a comparison website to start sorting out a few companies that you are interested in for the level of protection they offer and their price, then drilling down into those in more detail before making a final informed decision on who to go with.

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