by Harriet Bond
(San Francisco, CA, USA)
Household insurance, synonymous with home insurance, is typically made up of two different policies: Buildings insurance and contents insurance. One is for buildings, which covers the structural integrity of your home, and offers security in the event of damage to the building – even rebuilding it if necessary!.
Contents insurance however covers your possessions within the house, it can cover a broad range of things ranging from the very expensive such as laptops to petty items. Usually a person looking to insure their home will take out both policies with the same insurer. Some companies will offer discounts if this is the case.
It is not just the bricks and mortar of a house that building insurancecovers; it includes coverage of everything that is a permanent feature of the house. This would include fitted bathrooms and kitchens, and indeed anything which cannot be moved from the home. One issue of key importance is the value of the policy you take it.
You should ensure that it is enough to cover the rebuilding of your home should a disaster occur to the end that this is necessary. It is important to check details in any policy you take out to you know what you are covered for and what you aren’t.
Contents insurance however provides security for all ephemeral items in your home, typically what would move with you if you moved house. Contents insurance can be very flexible, you can insure to a certain value. Certain items could require a specialist insurance, if they are of such significant value – you can imagine the type: diamonds and rare jewelry.
It is a good idea to update your contents insurance regularly, in fact – some insurers require this. You can find deals on the internet with online home insurance which could greatly reduce the amount you pay in total.