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Oct 21 2011 11:57AM
What can building insurance cover?

Building insurance is typically designed to cover the structure of a building and can expand to cover other outdoor structures on a property, such as a garden shed.There are numerous reasons as to why you should have building insurance. If you own the property and have a mortgage it will be a condition of the mortgage that the home is insured. Your mortgage provider should make sure that the amount of insurance cove you purchase would meet the outstanding debt o your mortgage. However, it is advisable to make sure that the cover you buy is enough to pay out for rebuilding costs of your home for unforeseen future events.If you are buying or selling a house the responsibility of insurance lies with the new owner once contracts are exchanged. It is vital then to insure a property from the day that contracts are exchanged. Building insurance coves walls, floors, ceilings and other structures of the property. Doors, windows and permanent fixtures and fittings are also often including in building insurance cover. Interior design as well as underground tanks, pipes, cables and drains should also be covered with building insurance. If you are buying building insurance for the fist time, it is important to know exactly what you are buying insurance for. Building insurance usually covers the cost of damage or loss to the structure of a property that occurs for various reasons. For example, if you’re home was burnt down as a result of the London riots earlier this year, your building insurance may cover that. Building insurance often covers loss or damage in the event of a fire,explosion, theft and malicious damage or vandalism. Natural disasters are also covered by most insurance policies such as earthquakes, bad weathering which includes storms, lightening and flooding, as well as falling trees. However, it is important to note that if your home or property is at risk of flooding or if it is at a greater risk of subsidence your policy might not cover you. It is advisable to check your policy thoroughly if this applies to you. If you are buying building insurance you may also want to consider home insurance including contents. This will cover personal items if they are stolen or damaged. Home contents insurance should help pay for repair or replacement costs. Without adequate insurance you could be at risk of paying additional expenses on your personal items if they were damaged. This could cost you thousands of pounds. During such as traumatic time where items have been stolen or damaged, the last thing you want to do is pay additional costs to restore your property.
 
 
 
 
 
 
 
 
 
     
 
     
 
 
 
 
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