Buildings & Contents Insurance Broker
Find the competitive house insurance deals with Alexander Southwell Mortgage Services. Call us on 03300 432428 to talk with our experienced team. We will be happy to discuss your situation and source the right buildings and contents insurance deal for you!
Home Insurance Broker in Southampton
Home insurance is a form of property insurance designed to protect your home and possessions in the event of damages, you can also cover your home and its possessions in the event of accidental damage.
If you take a mortgage out to purchase a property, then the bank will place a mandatory notice in the offer letter that you have to insure the building. They will also ask your solicitor to check that this cover is in place at the point of exchange of contracts which is when you are legally responsible for the property.
Buildings & Contents Insurance
Buildings and contents insurance can be purchased separately or together depending on your requirements. We all know that homes are more than just bricks and mortar and everyone’s individual needs are different.
We can help you to purchase new cover, tailor cover to your personal requirements or see if we can reduce the cost of your current cover. There are many factors which shape the price of cover, such as whether it will include accidental damage or home emergency cover.
Do You Need Buildings Insurance?
If you have a mortgage, your lender will almost certainly require buildings insurance as a condition of your mortgage offer. The lender has a financial interest in your property and needs it protected. Buildings insurance must be in place from the date of exchange of contracts — not completion — so it is important to arrange this early in the buying process.
If you own your home outright, buildings insurance is not a legal requirement, but it remains one of the most important financial protections you can have. Rebuilding a property from scratch following a major fire or flood can run to hundreds of thousands of pounds.
What Does Buildings Insurance Cover?
Buildings insurance typically covers the structure of your property against fire, flooding, storms, subsidence, falling trees and accidental damage to fixed glass. This includes the walls, roof, floors, ceilings, doors and windows, as well as permanent fixtures such as fitted kitchens and bathrooms.
It is important to insure your property for the correct rebuild cost — not the market value. Rebuild costs can differ significantly from what you paid for your home, and underinsuring can result in your insurer paying only a proportion of any claim.
What Does Contents Insurance Cover?
Contents insurance covers the belongings inside your home — furniture, appliances, clothing, electronics and personal possessions — against theft, loss and damage. Accidental damage cover is usually available as an optional extra and is worth considering if you have young children or valuable items.
Most policies will cover furniture, kitchen appliances, TVs and laptops, clothing and jewellery, and cash held at home up to a specified limit. It is important to ensure your contents are insured for their full replacement value to avoid being underinsured.
How Alexander Southwell Can Help
Arranging buildings and contents insurance at the same time as a mortgage can feel like one more thing to organise in an already busy process. We take care of it for you. We search across a wide panel of insurers to find the right level of cover at a competitive premium, explaining everything in plain English so you know exactly what you are covered for.
Our service does not stop at completion. We are here to help you review your insurance at renewal, ensure your cover still reflects your circumstances, and answer any questions you have along the way. Call us on 03300 432428 or get in touch through our contact form.
Frequently Asked Questions
Is buildings insurance compulsory?
Buildings insurance is required by your mortgage lender if you have a mortgage. Contents insurance is not a legal requirement but is strongly recommended to protect your belongings.
How much does buildings and contents insurance cost?
The cost depends on your property’s rebuild value, the value of your contents, your location, your claims history and the level of cover you choose. We search the market to find the most competitive premium available for your circumstances.
Can I get buildings and contents insurance through Alexander Southwell?
Yes. As part of our fee-free mortgage service, we can arrange buildings and contents insurance alongside your mortgage or at any other time. Contact us on 03300 432428 to get started.
What is the difference between buildings and contents insurance?
Buildings insurance covers the physical structure of your property. Contents insurance covers your personal belongings inside it. Many homeowners choose to combine both in a single policy for simplicity and cost savings.
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