Explaining
home insurance:
This type of insurance is probably the most important
insurance policy any family can purchase. Without it, you could literally lose
the very house over your head… within seconds! Home and contents insurance
protects your home, contents and third parties against loss, damage and injury.
Unlike car insurance, it is not a legal requirement that you take out a home
insurance policy, however, your mortgage lender will more than likely insist
that you do…along with mortgage protection cover!
Not everything can be covered in a home insurance policy:
Keep in mind that items like
credit cards, fences, garden sheds/ornaments, very high value items, bicycles,
etc, may not be covered under your policy. Always read the policy, word by word,
so that you know how protected you really are. If you are a tenant, chances are
your own personal belongings will not be covered under the landlord’s insurance
policy…so you may decide to take out your own contents policy, particularly if
you have some of your own valuable possessions within the property.
