I am an insurance agent: Yes this is what is known as home insurance. The package usually also includes liability coverage, which pays for example if someone gets injured on your property, either through accident or neglect.
Hi, buildings and contents is home insurance. If you have anything valuable in your home, you should advise your insurer and have this covered separately, e.g. jewellery or home cinema etc.
Buildings and Contents cover is what is normally meant by Household or Home Insurance. Cover for items used outside the home comes under a separate section called All Risks, and the cover is more expensive, though a limited amount may be included in the normal contents section.
Do you know what form your policy is written on? A homeowners policy would be written on an HO 3 or HE 7 form. If it is not a true homeowners policy it could be written as a dwelling fire policy.
Yes–it appears that you are covered. But, for your peace of mind check with your agent!!!
Don’t accept general information from strangers regarding important issues….
Take care I hope you follow-up!
Have you had claims problems in the past that were paid under the Liability portion (especially large ones)? If so your previous insurer may have declined to renew your policy due to claims history. If this was the case your broker may have had to market your renewal with a high risk market. If the claims were especially bad the high risk market may have only been willing to quote a policy with building and contents coverage only, with no coverage for liability. While this would satisfy the company who is holding your mortgage, the coverage would be very limited, and worse of all you have no Liability coverage! This should have all been explained to you when you last renewed your policy by your broker. If it wasn’t I recommend you switch brokers ASAP.
Of course if not of the above is true, then you are probably misreading your Homeowner’s Policy. Contact your Broker/Agent and ask them to clarify.
If you have the bulding and contents insured…what else is there to insure?
I am an insurance agent: Yes this is what is known as home insurance. The package usually also includes liability coverage, which pays for example if someone gets injured on your property, either through accident or neglect.
Hi, buildings and contents is home insurance. If you have anything valuable in your home, you should advise your insurer and have this covered separately, e.g. jewellery or home cinema etc.
Buildings and Contents cover is what is normally meant by Household or Home Insurance. Cover for items used outside the home comes under a separate section called All Risks, and the cover is more expensive, though a limited amount may be included in the normal contents section.
Do you know what form your policy is written on? A homeowners policy would be written on an HO 3 or HE 7 form. If it is not a true homeowners policy it could be written as a dwelling fire policy.
Yes–it appears that you are covered. But, for your peace of mind check with your agent!!!
Don’t accept general information from strangers regarding important issues….
Take care I hope you follow-up!
Have you had claims problems in the past that were paid under the Liability portion (especially large ones)? If so your previous insurer may have declined to renew your policy due to claims history. If this was the case your broker may have had to market your renewal with a high risk market. If the claims were especially bad the high risk market may have only been willing to quote a policy with building and contents coverage only, with no coverage for liability. While this would satisfy the company who is holding your mortgage, the coverage would be very limited, and worse of all you have no Liability coverage! This should have all been explained to you when you last renewed your policy by your broker. If it wasn’t I recommend you switch brokers ASAP.
Of course if not of the above is true, then you are probably misreading your Homeowner’s Policy. Contact your Broker/Agent and ask them to clarify.