Building contents Insurance
Most people are familiar with insurance policies but
building contents insurance is often overlooked by both homeowners as well as
home-renters. So who really needs these kinds of policies and do you need to
buy both the buildings insurance and the contents insurance? In this article,
you will be able to find the answers.
As the name implies, the building contents insurance
provides protection for both the building and the contents within the
buildings. Some people might just need to get the buildings insurance. In case
of fire and other natural disasters, the buildings insurance will cover the
losses incurred by damages to the actual structure of the building itself. In
addition, even the fixtures and other fittings will also be covered by the
insurance. You may want to check with the policy company to see exactly what kinds
of fixtures are considered. But that is all, your personal items that are
destroyed in the accident will not be covered so you have to bear the losses
yourself.
If you are the landlord renting out an apartment, you will
usually purchase the building insurance so as to protect your property.
However, if you are the tenant, you would want to get the contents insurance
for yourself. This is because your landlord's insurance is not likely to cover
your losses. Thus, should anything happens and your personal belongings are
destroyed, you will have to bear the losses yourself. As such, is there any
group of people who might want to get building contents insurance so that both
their property and their personal items are being protected?
Definitely, if the landlord has found a very good tenant and
does not wish his tenant to incur losses should there be an accident, he might
want to get the building contents insurance to protect his property as well as
his tenant's belongings. The landlord will also stand to gain as good tenants
are hard to come by and if his tenant has to bear the losses, he might have
difficulty overcoming his financial problems. As a result, he is likely to find
problem in paying the rental.
If the landlord still has some personal belongings in the
house, such as furniture that he is renting to the tenant as well, he might get
the contents insurance on top of the building insurance so as to protect his
own contents in the property. Alternatively, he might request that the tenant
get it and that is usually discussed before signing the agreement.
If the homeowner is staying within the house, he is also
likely to purchase the building contents insurance so as to safeguard his
property and his contents that are within the house. He would also want to protect
his family staying there from any possible injuries. Sometimes, your mortgage
provider may try to sell you the insurance as well when you are getting the
mortgage. However, you might want to keep in mind that it is not necessary to
get from them as you can check out the rates and coverage provided by other
insurance company. You want to ensure that you have gotten the best deal at the
lowest price possible.
Sig has been writing articles online for nearly 4 years now.
Check out his latest website on buying the best contents insurance
[http://bestcontentsinsurance.net/] and read about getting building contents
insurance
[http://bestcontentsinsurance.net/who-needs-to-buy-building-contents-insurance/]
for your property.
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