In every home across the UK you will find insurance of some kind, insurance can add value to your life, save you a lot of money and be essential for certain situations. What types of insurance can you find in most homes across Britain?
Does Your Car Live at home too?
Almost every home has one or two cars to their name; this means that they have to have car insurance. It’s illegal to drive on the roads across Britain without adequate insurance, though sadly many people still do to this day.
Car insurance is the first policy you will find in most of the homes; this may range from third party cover which only covers the other party’s vehicle or property when involved in an accident to fully comprehensive cover, which covers everything to do with an accident.
The UK works in the same way as most other countries around the globe where the person who causes the accident is responsible.
Buying Your First Home?
Home insurance or householders insurance is essential when buying your own home; many mortgage lenders won’t release payment until householders insurance has been taken out. This cover protects the property in the event of a fire, damage or theft.
As you can imagine, this is essential. Your home is the most expensive asset you will ever purchase and repairs can amount to thousands if you aren’t prepared for it. A prime example if the tragic flooding which is taking place around the country at the moment, this flooding is causing serious damage to many homes and without the right cover these home owners are in for an expensive time.
Are You Renting?
Most tenants don’t realise they need their own insurance to protect their personal belongings, while the landlord will cover the basic structure of the building and any damage caused by property he is responsible for such as the electrical circuits or boiler, your personal belongings are your own responsibility.
Tenants also need to have public liability cover, if a friend injures themselves while visiting, they can lay a claim against you. A claim can amount to thousands as it can include loss of income and mental distress and the problem with these claims is that you are legally responsible for them.
Do You Let Out Properties?
Have you found a way to get your foot in the property market and let your properties out to pay the mortgages? These are big investments and being the landlord of these properties you are responsible to ensure that you have adequate cover to pay for any damages to the structure of the building or any damage caused by fittings in the property.
Further, landlords also need public liability insurance and they can have a claim against them by the tenant or a visitor to the property who was injured as a result of something within the property, this could be an electrical problem or the geyser bursting, leaving major flooding. It only takes one person to slip in the water to put a claim against you.
Anyone that travels internationally on a regular basis understands the importance of travel insurance. This can keep you protected should you need urgent medical treatment while on holiday in a foreign country. Without this cover, hospital care or visiting a doctor can be a very expensive exercise.
Protecting Your Family
You will find one of the most common forms of insurance found in most family homes across the country is life insurance. This protects your family should something happen to you, the beneficiaries are paid out upon your death and it is a way for you to ensure your family is cared for when you cannot.
This website can offer you superior life insurance quotes, helping you protect your family when they need it most.