Without Building And Contents Insurance You Could Be Caught With Your Pants Down

Perhaps you can remember the recent flooding in some areas of the UK and one cannot

help but wonder just how many people in the affected areas were caught with their pants down because they never had any form of insurance cover in place.

Sure their homes were left standing, but you can just imagine the extent of the damage caused and the inevitable cost of repairing it. Of course, flooding is by no means the only type of disaster capable of destroying one's home, but it does seem to be quite a frequent occurrence in the UK nowadays.

Other calamities such as house fires, burglaries and random acts of vandalism can also end up costing home owners tens of thousands of pounds in damages, so let's face it, having building and contents insurance just makes sense.

The bottom line is having this sort of cover allows you to sleep peacefully at night, safe in the knowledge that should a disaster strike, your home and your belongings are covered. One only needs to do a quick online search in order to discover just how common burglaries are in the UK and yet a vast number of home owners continue to live without any form of cover.

So, how much cover does one actually need? The levels of cover you opt for will of course depend on the value of your home and that of your belongings. Even though this may sound blatantly obvious, you'd be surprised at just how many home owners are either over-insured or under-insured. Generally speaking, there are two reasons for this.

The first reason being, that home owners declare a false value in the hope of receiving bigger payouts. The second reason being, many home owners simply fail to arrive at an accurate estimation with regards to the value of their property and belongings.

The importance of providing your insurance company with accurate information simply cannot be stressed enough. Remember, should your property ever be destroyed, the amount of compensation you receive from the insurance company will be based entirely on the value you declared at the time when you took out your policy.

With that said, it's equally as important that you don't overestimate the value, in that the insurance company will consider this to be fraud, or at the very least, providing false information. As such, they could then well have grounds to refuse paying you any compensation.

One of the most important things to bear in mind is that you need to make sure you have an adequate amount of cover to rebuild your home at today's prices. The same applies to the contents of your home, in that should everything be destroyed, you'll want to be financially capable of replacing it all.

As you can see, when you take out building and contents insurance you need to make absolutely certain that your policy provides you with total protection. Basically, you need to know that your insurance company will provide you with enough compensation so that you can replace all your belongings which were damaged and if need be, the insurance company should also pay for the complete rebuilding of your home.

by: Tom Jones

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