Home Building and Contents Insurance

When you take out a mortgage you should think about Home Building and Contents Insurance cover.

In fact, it is compulsory to take out and maintain adequate Buildings Insurance cover with any UK mortgage a condition of the mortgage contract. However, even though it is compulsory to take out buildings insurance cover it is not compulsory to take the insurance with the mortgage company that provides your mortgage.

Contents insurance is not compulsory but is highly recommended. It is usually cheaper to buy buildings and contents insurance together rather than as separate independent policies.

Where to obtain home building and contents insurance...

It is often the case that block home insurance cover provided by banks or building societies is more expensive than equivalent cover that you can obtain elsewhere. This is because many people will simply take the easy option rather than shopping around.

How can EFS help with home building and contents insurance?

EFS can offer home building and contents insurance from a range of insurers both those that are well known, and more niche insurance providers; all insurers are approved and policies underwritten by Lloyds of London.

Even if you wish to get a quote directly from a bank, building society or other insurance provider you are welcome to. Your EFS adviser can produce comparative quotations and make an assessment of the quality of each policy and the relative merits of cover.



Is the cheapest always the best when it comes to home building and contents insurance cover ?

No. As with most things in life you get what you pay for. It is important that cover is suitable, valid and adequately comprehensive. Cheaper often means a lower level of cover when it comes to home building and contents insurance.

It is important to make an assessment of what cover you require so that you are not paying more than you need to for cover that you do not really need. But do not cut too many corners or you may regret it in the event that you have to make a claim.



Home building and contents insurance conclusion

Buildings insurance is compulsory with any mortgage so it is important that you find the right quality of cover for you particular property and get the most cost effect policy providing this adequacy of cover. Contents insurance is not compulsory but is highly recommended and is easy to buy in conjunction with your buildings policy.

So why not let your EFS adviser help you to find and obtain the right home building and contents insurance policy.



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