Homeowners in Ireland (and everywhere else) definitely do not wish for disaster to befall their homes, but no one can predict the future. Your home may experience fires or flooding, which would require a lot of money to repair. Though your savings can mitigate some of the cost, having them wiped out would be bad news; if the damage is really bad, your savings may not be enough. That’s where your insurance can help you out.
What it Protects You From
Learning more about home insurance helps you understand why exactly you need it. Right now, there are four kinds of insurance that are connected with homes. The first type is the one that you’ll probably need most: building insurance. As a rule of thumb, building insurance covers anything that you can’t take with you when you move homes. This includes the building itself, rooms, permanent fittings, and surrounding features like sheds and the garden. Damage from fire, floods, riots, burglary, and other causes are covered, though there are exemptions (e.g. no flood coverage in areas prone to flooding).
The second kind of home insurance involves the contents of your house, which include movable objects like furniture. Content insurance usually covers the amount you need to replace any items that were stolen or damaged. There are some limits, though; for example, if it’s your car that gets damaged at home, then it’s under your car insurance. This insurance also won’t cover your loss if you’ve left your home alone for more than 30 days. This type of insurance is often taken as a separate item if you’re only renting the house, but it can be folded into one package for your convenience.
The remaining two kinds of home insurance are mostly optional, though they can be useful to have. All-risk cover insurance protects personal valuables that can be stolen or lost inside your home and out, including jewellery and other heirlooms. The insurer will either pay you off with cash or pay for the repairs and replacement. On the other hand, liability insurance protects the people working on your home. For example, if your plumber meets an accident and blames you for it, liability insurance will cover the costs.
Getting Some Protection
With all of the aforementioned benefits, getting home insurance quotes from insurers like Simply Insure should be on top of your to-do list. Get in touch with them today to ensure your home remains safe and protected.
Do you need homeowners insurance?, HowStuffWorks
Buildings insurance – Do you need it?, The Money Advice Service
Home insurance, ConsumerHelp