Our expert team of insurance advisers at John Charcol can help you protect the structure and contents of your home against a wide range of risks. Throughout the process we’ll work with you to assess your needs and ensure you have the right level of protection for you and your home. With access to the whole market we can help you get the right cover at a price that’s right for you.
Building insurance is a mandatory requirement that all lenders look for when arranging a mortgage, regardless of whether you’re buying a property or remortgaging. When purchasing a leasehold property this may already be covered by the monthly or annual maintenance charge. If you are purchasing a freehold property it’s likely that the buildings insurance will need to be covered by you and you will need buildings insurance in place for the exchange of contracts.
Building insurance covers the fabric and permanent fixtures of your home, such as: the roof, walls, ceilings, floors, doors and windows, fitted kitchens, built-in cupboards and bathroom suites. A standard buildings insurance policy should cover the full cost of repair or a full rebuild in case of: a fire, lightning strike, storm damage, gas explosion, falling trees, earthquake, vandalism, vehicle collisions with the building or bursting of the plumbing.
Aside from building insurance it’s also important to ensure that the contents of your home is insured. Contents insurance isn't compulsory, but it offers homeowners valuable protection for their belongings in the event that they were stolen or damaged.
Contents insurance covers your possessions against loss or damage by theft or attempted theft, fire, explosion, lightning or earthquake. It will also insure against water leakage, storm or flood damage. The 'contents' of your home is defined by insurers as the sort of things you would take with you if you were to move house so it includes items such as furniture, clothes, electrical items, money and jewellery. Contents insurance may also covers some fixtures such as carpets and curtains.
When arranging contents insurance you set the maximum level of cover the policy will pay out if, for example, the contents of your home are completely destroyed, so it is important to make sure you have the right level of protection. Many of us do get this figure wrong and experts estimate that one in five households could be underinsured because they do not know the true value of their home contents.
It can help to go through your home room by room and make an inventory of your possessions - they will probably add up to more than you think. Don't forget to include items that are in the loft or stored outside in the garden and shed.
Many price comparison sites only offer ‘standard’ insurance policies and won’t necessarily take your personal circumstances and needs into account. Equally, because comparison sites don’t provide one on one advice, you could be left with unanswered questions or worst still be unaware that you are underinsured or unable to make a claim because of small print or legal complexities you weren’t aware of during the application process.
By arranging your home insurance through John Charcol, you can ensure that you speak directly to an expert who can guide you through the process and ensure that the policy you are being sold is right for you and your individual circumstances.
Our in-house team of expert insurance advisers are in regular contact with your mortgage adviser allowing us to ensure that your policy is set up at the correct point in the process.
Your adviser will make sure your property is insured for the full rebuild value, as well as arranging cover for the contents of your property, including personal valuable items you take away from home such as jewellery, laptops and mobile phones.
The benefits of arranging your home insurance with John Charcol include: