Home vs Content Insurance

Landing on the perfect insurance can be a daunting task. People need to understand how to compare home and contents insurance to be able to decide what they actually need. One thing is for sure that both these policies are entirely different and cover different aspects.

People have different requirements and needs and according to that different people may opt for different options like some may prefer buying both the insurance policies and some might ending up buying only one of the policy.

Home insurance:

Home insurance is basically a property insurance that helps you to cover each and every part of the house and all structures attached to the house, in case of any loss or misfortune. Depending on the type of home insurance, the coverage offered by the policy can vary. In most cases, all things associated with the house are usually covered for repair or damage. In some elaborate policies, personal assets and belongings are also covered.

· What is covered in home insurance?

A good home insurance policy is expected to cover all repairing or replacing damage cost of the entire house structure along with its interiors, sheds, fences and garages. Most of the home insurance policies cover the cost of drain pipes, cables and lightings as well. The home insurance policy can be extended to cover kitchen and bathroom fixtures, built-in wardrobes, flooring and ceilings, paints, etc.

Moreover, site clearance, architects fees and cost of demolition may also be include depending on the type of policy you are purchasing.

· How much will it cost?

The cost of home insurance depends on multiple factors like:

  • The location of your house,
  • Age of the house,
  • Level of coverage,
  • Materials used in the house, and
  • Other potential risks.

Content insurance:

Content insurance as the name suggests, is an insurance that covers all your personal belongings, no matter how big or small they are. All the items in possession of a person within a house or outside of it can be insured. It is usually purchased along with home insurance but it can be purchased as standalone policy also, essentially by tenants.

· What is covered in content insurance?

Content insurance will cover all of your personal belongings, household items and everyday use items. Some of the items that can be covered in content insurance include:

  • Kitchen appliances,
  • Electronic devices,
  • Different gadgets,
  • Mobile phones,
  • Laptops,
  • Furniture,
  • White goods,
  • Curtains,
  • Jewellery,
  • Clothes,
  • Sporting equipment
  • Tools
  • Decoration items
  • Toys

The list of items can go on, depending on your possession.

Different insurers may cover these items on replacement payment or new for old. You can choose which ever is most suitable for you.

· How much will it cost?

The cost of a content insurance mainly depends on the items that you want to get insured. The best option is to calculate the price of all of your possessions and then search on different policy comparing websites to get the best quote. Thoroughly review the policy clauses and then choose the most suitable content insurance for yourself.