Building and Contents Insurance Explained

Insurance Policies

Purchasing building and contents insurance can be a very intimidating process - this is why it is best to have building and contents insurance explained before you buy.

About Building and Contents Insurance

Many people struggle to figure out how to insure their possessions, including how to protect their property, the structures on the property, and everything inside the home. Someone who is in this situation would be a perfect candidate for building and contents insurance since it covers everything on this list.

Wouldn't you like to purchase an insurance package that covers everything you own? Building and contents insurance can help you do just that. There are two parts to this dual-coverage insurance:

  • Buildings insurance focuses on damage to a building because of weather, the elements, and other issues that cause the actual structure of the building to suffer in some way. Note that this is insurance that covers things that are not in your control but that it does not include other problems like fire or cigarette smoke damage.
  • Contents insurance protects what you own inside of the building, such as your business planning materials, technology and equipment, and office supplies and furniture.

Building and Contents Insurance Explained Simply

If you own a business, you might want to consider purchasing building and contents insurance. This can be incredibly helpful for managing a space where there is a risk of accidental problems, such as fire damage or damage that might be caused by extreme weather in your area. Each plan handles the concepts of building and contents differently, though. You have to ensure that you are protected at an affordable cost and that you aren't paying for unnecessary extras.

Since each plan will differ slightly based on its terms of agreement, something that is covered under one plan -such as wind damage- may not be covered under another. Think about consulting with an insurance consultant who can help you make a decision on which insurance package to purchase. If a financial advisor is by your side, he or she may be able to have building and content insurance explained so you are ready to start purchasing and organizing your insurance plans.

Price of Building and Contents Insurance

If you are looking to insure several hundred thousand dollars worth of space and materials, you can expect to make a fairly large lump sum payment, moderately high payments each month, or a combination of the two. This figure will differ depending on what company you work for, what country you live in, and even the state and city in which you live.

You can expect to spend several hundred - even thousands - of dollars on insurance depending on what brand you choose and the size of your property. Be accurate when measuring the value of your property; this will be important when you finally make a claim.

Links to Providers of Building and Contents Insurance

You can compare this type of insurance from numerous insurance providers. For example:

  • At Nationwide, you can comparison shop for insurance and can find more information about each plan that is sponsored by the company. The site also has office locators and a customer service plan.
  • Compare the Market is another great website where you can compare home, building, and contents insurance all on one website. This will redirect you towards lots of links about insurance plans throughout the UK and elsewhere.

If you still need to have building and contents insurance explained, you can speak to a legal or financial advisor who can guide you further toward insuring your possessions.

Building and Contents Insurance Explained