The PLA Guide To Buildings Insurance

Thinking About Getting Building Insurance?

Choosing The Right Policy May Not Be As Easy As You Think!

Your home is of the utmost importance to you. If anything were to happen to your home, it would devastate you. Thus, it is essential to obtain the right level of building insurance so that if anything bad does happen, then you’re covered.

You should always insurer your property, especially if you have a mortgage against it. If any damage has happened, then the insurance covers the cost of repairing the structure. This excludes any damage to any belongings inside the house, such as a bed or a TV. This is because these items would file under contents insurance. Here are some important things that you may know, or may not know, about building insurance.

If You Own A Building, Then You Need Building Insurance!

The law forces you to buy building insurance. This is because it protects your home from any damage. This includes everything to do with the structure of your house. Plus, any extra extensions or fittings that you might add to your property. Depending on your policy, this may include any garages, patios, pipes, Understanding Insurance Premuimsor drains.

Coverage Factors That May Change The Cost of Your Policy

Buildings insurance may cover anything that could harm your property. Some events could be a burst pipe, water, and fire damage, subsidence, or any natural disasters. If you have made a claim before, you may have an increased policy cost and excess for any policy you may take out in the immediate future.

Insurance excess is the amount you agree to contribute towards any claim that you make. It deducts from the insurance payout. Some matters that building insurance usually will not cover are animal pests, rot, and general wear and tear. Exclusions are where an insurance company doesn’t payout. This could be for any reason. Such as company policy or lack of coverage inserted within the small print of the insurance policy.

Understanding What Insurance Premiums Are

An insurance premium is an amount that you have to pay for an insurance policy. This amount varies for the different policies you may take out. The amount works out as how much it would cost to rebuild the property if irreparable damage were to happen to it. This differs depending on where you live and the value of your house. But, it is not based on the market value of the property.

Cover All Options When Choosing Your Policy!

Always read the small print. It is always recommended to read the insurance policy yourself. This is because if you don’t, you may find unexpected charges. The figure that the insurer is offering may not exactly mirror the cost to rebuild the property.

This may mean that you could be under-insured leaving you vulnerable to any extra damage. To work out the rebuild cost, one of the best ways is to hire a professional to give you a quote. This way it is more likely that you’ll get a precise sum. You can also get an online quotation if you check your house by yourself. This requires more effort and knowledge of the property but it is also cheaper.

Don’t Buy The First Policy You See – Compare, Compare Compare!

To get the building cover that you desire, it is critical to shop around to find one that suits you best. These different insurance companies will present you with an array of quotes. This is due to such high demand. It is worth looking at many policies and reading the terms and conditions for these policies.

A great added extra in a potential insurance policy to look out for would be “alternate accommodation”. The insurance would cover you and your family if you were forced to move to temporary accommodation. This could be in a hotel or renting a property for a short time while the property is getting repaired.

Having Problems With an Insurance Claim?

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Basic Cover Or Added Extras?

When you are looking to buy building insurance, you have the opportunity to choose whether you would like any more cover or added extras in case of any emergencies such as accidental damage.

For example; if you were to drill through a wire within a wall cavity, then this would be classed as accidental damage. The insurance company can cover this you by paying for the damage caused.

Legal expenses are another optional extra. If you need legal help over a dispute with a neighbour, then insurance policies can cover the cost for this.

Home emergencies are another extra that provides cover for a customer. For example, if there was a plumbing issue in the house that needed fixing, then this policy could cover it.

Cheaper Insurance OptionsDon’t Be Pressured Into Buying A Building Policy Off Your Lender – There May Be Cheaper Options!

Many people think that they must take out building insurance from the same provider as their mortgage. This is not the case. Many other insurance providers may have better options for the cover that suits you and you may keep premiums smaller as a result of this.

Some insurance providers prefer monthly premiums. But generally most providers will charge extra when compared paying your premium in full annually.

Would it be in the customer’s best interest to pay a higher excess should the worst happen? By doing this your premium can be priced at a lower rate. But it would be your personal choice as to whether you would prefer to pay a little more each year on the policy or take a bigger hit on your excess should you need to claim.

It may be beneficial for policyholders to try and increase the amount of years without making a claim as it adds to the no claim bonus. Many prefer not to put this at risk with a relatively small claim by paying for minor repairs out of your our pocket as it may help you save money on your policy renewal prices in future years. This should only happen if the policyholder can afford to do so.

Why You Should Never Auto-Renew!

When your annual cover is due to end, you will get an option to auto-renew. This is never a good idea unless you are offered a really great renewal price. I fact, it has now become common practice for you to have tell your insurer that you do not want to renew with then. Otherwise, they will just  automatically renew your policy for another year.

The customer should compare providers and warn of the threat of switching providers. This would make sure that they aren’t up to any funny business.

Beware of Disqualification!

Policyholders lose their insurance cover without even realizing it. If you were to leave the property empty for a certain amount of time. which is stated on your policy, then some providers will cancel your insurance.

Policyholders make improvements to their property without letting the insurance company know. This could be grounds for cancellation. Most insurance providers need some notice if you were to have any extensions made to your house. An example of this would be a conservatory.


In conclusion, everyone has to take out building insurance if they own a property. That’s the law. This doesn’t mean that you should sign up for the first one you see. It is important to shop around to see which policies apply to you the most. You should always read the terms and conditions of the policies.

This will prevent you from any hidden extras that might make you change your mind. Finally, always make a note of when the insurance expires. This is a perfect opportunity for you to get better deals on insurance. This could be by threatening to take your custom elsewhere. But, if you auto-renew the insurance policy, you could be accountable to many hidden fees. So it is important to keep track of it.

Need Help With Your Insurance Claim?

Have you have suffered from any insured damage to your property? Are you are not happy with the way your insurers are managing your claim? Don’t settle for less! Public Loss Adjusters can help. If you would like assistance please do not hesitate to contact us. We are available 24/7 so we will always cater to your needs. Whether that’s fire damage, water damage or anything of the like. Then we will help you get the settlement that you are owed. Call now on 08000 434 999!


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