If you have a mortgage the lender will insist that you insure your building for a minimum Sum Insured so that the property can be reinstated to its former condition if a major catastrophe happened. It is your responsibility to make sure that the property is covered for the full rebuild value and it is important to note here that extensions, conservatories etc. will increase this value significantly so we strongly advise that you obtain professional advice from your mortgage adviser regarding this matter. Many insurers these days offer an automatic level of cover say up to £300,000 which means that in the majority of cases the lenders requirements have been met. It is also worth considering the Accidental Damage option to offer that bit extra protection.

There is usually a Policy Excess which means that you pay for the first part of any claim and this excess can differ from company to company.

Contents cover is not usually required by the lender but it is important that your possessions are covered for the full replacement value so that if you had a major catastrophe your home contents would be replaced with new goods. It would be wise to consider the Accidental Damage option so that certain events not covered by the standard policy would be met in the event of a claim.

You can also insure your personal possessions away from the home. Items such as bicycles, golf clubs or things you take with you on holiday to name but a few can be covered for a small extra premium meaning you have that further added protection.