When you are buying a home clarity about building insurance is vital. There is a big difference between buildings and contents insurance. Enables IFAs in Bishops Stortford can make sure you have the right buildings insurance to cover the physical structure of the property including the walls, roof and floors. It is also important to have contents insurance but that only covers items inside the property, like furniture and freestanding appliances.
As a condition of many mortgages buildings, insurance cover is required and they want to know as well as you that it covers all the permanent fixtures such as the roof, the walls, the ceilings, the floors, the doors and windows, the fitted kitchens, built-in cupboards and bathroom suites.
Often garages, sheds or gazebos are usually covered but Enables IFAs can make all the checks with you beforehand. It is important to understand that often fences, gates, boundary walls and mains-supply pipes aren’t usually covered but again the devil is in the detail so we can make sure you fully understand your policy.
A standard buildings insurance policy should cover the full cost of repair/rebuild in case of a fire, lightning strike, storm damage, falling trees, any explosion, an earthquake, vandalism, vehicle collisions with the building, bursting or freezing of the plumbing
If you live in an area that has a high clay content, your house could be at risk of subsidence. When you take out building insurance, insurers might ask for an excess. One of the ways you can lower the chance of subsidence is by not planting trees or large shrubs too close to your house. If you are going to acquire trees with your new home have trees, if you want to cut them down you probably need permission from the council first. Enable’s IFAs can help you get real clarity about your building insurance.
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE