Why is home insurance needed?

As our homes are the most important asset that we are ever going to own, it is imperative that adequate home insurance is taken out for your property. You will never know when you will need to claim under your home insurance so it is best to make sure you are covered properly.

Statistics show that 1 in 4 people in the UK will get burgled during their lives but people still choose to ignore this and don't get any protection whatsoever. Other unforeseen circumstances such as floods and fire may also wreak havoc among your possessions and by not getting covered properly you are taking a big risk in losing out financially.

There are two types of home insurance; Buildings insurance and contents insurance. Buildings insurance is a mandatory condition when taking out a mortgage and lenders will insist that this insurance is in place. This will protect the house being damaged from events which cannot be repaired.

Contents insurance is not usually a mandatory requirement when taking out a mortgage, but it is in our own interest to secure your personal belongings as you have worked hard for them and if anything was to happen then you will be kicking yourself.

Remember, there are many home insurance providers out there and looking for the best cover for your house is important because after all it's your possessions and looking after them should be paramount.

Your home may be repossessed if you do not keep up repayments on your mortgage!

Moneywatch Finance is an Appointed Representative of HL Partnership Limited, which is authorised and regulated by the Financial Conduct Authority.

You can find us on their website www.fca.org.uk. Our registration number is 735552. Our registered address is Head Office, 86 Hay Lane, Shirley, B90 4EQ

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK

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GENERAL LINE
0121 7453347
Matthew Jones
07738 261 919
Peter Hunt
07880 900 841
Moneywatch Finance
Head Office
86 Hay Lane
Shirley
Solihull
West Midlands
B90 4EQ
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