Buildings & Contents
Buildings and contents insurance is also known as home insurance.
It is a combined insurance that will cover or replace any damage that might occur to the building itself or its contents. This cover is compulsory when arranging a mortgage on a freehold property.
It is possible to get the two insurances separately, although most providers offer them as a combined cover.
We only recommend a Buildings + Contents policy if it has been rated as 5 star Defaqto based on the features and benefits it can offer.
We work for you to ensure that you find the very best deal available. As part of our service, we project manage the entire application from start to finish giving you the very best chance of a mortgage offer in the quickest and smoothest way possible.
BUILDINGS INSURANCE
This insurance covers your house in case of a disaster where your house is so badly damaged that it needs to be completely rebuilt. The event which caused the damage must have been completely beyond your control, for example storm or flood damage, a major fire, smoke or explosions, water leakage/burst pipes, subsidence, or third party vandalism. The policy will have a rebuild cost which will be detailed by the mortgage valuation you have completed.
CONTENTS INSURANCE
This covers all items in your house which are not fixed to the property, for example your furniture, jewellery, appliances and clothing. Contents insurance will cover you in most of the same situations as buildings insurance, but also includes theft. Again, any of these perils must have been beyond your control. As well as the most basic cover, there are a number of optional extras, available for an additional price:
OPTIONAL EXTRAS
Accidental building damage – This includes damage which you cause to the house, for example whilst doing DIY.
Accidental contents damage – If you cause damage to any of the contents of your house by accident, spilling a glass of wine over a carpet for instance.
Personal belongings – This will cover personal belongings, such as iPods, computers etc, regardless of whether they are stolen or damaged in the house.
Home emergency – If an emergency, such as a burst pipe, occurs within the house, this type of cover will provide you with a tradesman that you can call out for free. It is usually 24 hour cover, and will generally only cover you for a certain amount of work, on average up to £250 (including call-out charge, materials and labour).
Legal expenses – Some buildings and contents insurance will also cover you if an accident occurs within your house or on your property, and another person is hurt. This legal liability, although rarely needed, could cover you in situations where people will sue if the accident was caused by something or someone within the house.
IMPORTANT
Your home may be repossessed if you do not keep up repayments on your mortgage
Our typical fee is £495, but a fee of up to 1% is payable in some instances. Some commercial mortgages and most buy to let mortgages are not regulated by The Financial Conduct Authority. 360 Financial Services Limited is an appointed representative of New Leaf Distribution Ltd which is authorised and regulated by the Financial Conduct Authority.
FCA Number 460421
New Leaf Distribution: Garfield House, 165-167 High Street, Rayleigh, Essex, SS6 7QA