Home Insurance – Are You Covered?

You may know that having insurance on your home is important, but what you may not know is that you need to have the right cover for the policy to be effective. If you only have some protection on your home then you may be at risk for a loss. You need complete cover under your policy in order to ensure that your whole home is safe and protected.When it comes to house insurance you will be given many different options in the types of cover from which you can choose. In order to be sure that you get adequate protection you have to be sure you understand all the options you have and what each type of policy actually offers you. When you understand all the details then you can make sure that what you have is comprehensive.It is not enough to just say you have a policy. You have to be sure you have an adequate policy. Your insurance does not do you any good if it only covers certain things or if it excludes certain types of cover. You need full protection cover of your home, property and belongings in order to be sure it adequately meets your needs. If your policy is not comprehensive then you could be left having to pay the bill in some cases.Two Main Types of Protection Options;There are two main types of insurance types offered under a policy. You have building which provides protection for the physical structure of your home, plus internal components like plumbing, heating, windows and wiring. You also can get contents which will protect all the items in your home, like clothing, furniture and electronics.For comprehensive protection you will want to get both building and contents protection. Buildings protection is probably going to be required if you have a mortgage because this helps to protect the lender in the event something should happen to damage your home. Contents cover is optional since it protects personal belongings.If you were to only get building protection and your home caught fire and burnt to the ground then the policy would only pay for the actual loss of the home. You would not have additional cover to pay for any personal items that were lost in the fire unless you have contents insurance.When making your final decision about the cover under your home insurance policy it is important to think about your needs. Do you feel that if you had a total loss of your home and everything in it that you could afford to replace contents on your own without the help of insurance? If you do not think you could afford that then you should go with both building and contents insurance. This option gives the most comprehensive home insurance and will give you a peace mind. You will know that should anything happen to your home or anything inside your home that you have the proper policy to cover the repair or replacement costs.