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What Is Covered?
Some Buildings insurance policies differ in the cover they provide and in their terms and conditions.
Buildings insurance policies differ in the cover they provide and in their terms and conditions. The information here is of a general nature – for detailed information you must read your policy.
In addition to the structure, a buildings policy covers permanent fixtures and fittings such as baths and toilets, fitted kitchens and bedroom cupboards. Interior decorations are also covered. Policies usually extend to include outbuildings such as garages, greenhouses and garden sheds. Boundary walls, fences, gates, paths, drives and swimming pools may not be covered – you need to check the policy if you need cover for these areas.
Against What Risks?
Most policies cover damage to your home by:
|Fire||Aircraft or things falling from them|
|Lightning||Subsidence, heave and landslip|
|Explosion||Falling trees or branches|
|Earthquake||Impact by vehicles or animals|
|Theft||Breakage or collapse of aerials|
|Riot and malicious persons||Escape of water from tanks or pipes|
|Storm & Flood||Escape of oil from fixed heating installations|
Extensions of Cover
Most buildings’ policies have valuable extensions of cover.
There are limits and exceptions to every policy so make sure you have read it. It is a legal contract and if there is anything you do not understand ask for an explanation.
One word you will come across is ‘excess’. An excess is an amount of money you have to pay towards the cost of each claim. Excesses vary in amount. They may apply only to certain types of claim or they may apply to all claims. Your policy will tell you.
One type of excess that appears in almost all policies applies to damage caused by subsidence, heave or landslip. This is usually a specific amount (for example £1,OOO). Common exclusions are war risks, damage caused by storm or flood to gates or fences, frost, sonic bangs and radioactive contamination from nuclear fuel or nuclear waste.
Be careful – Not all insurance policies are the same.
Graham Sykes Limited is authorised and regulated by the Financial Conduct Authority. Our firms FCA number is 300310
If you are unhappy with our service, we have a complaints procedure, details of which are available on request. You may be able to refer a complaint to the Financial Ombudsman Service (FOS) if you are unhappy with how we have dealt with your complaint. The FOS website is www.financial-ombudsman.org.uk
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