Home insurance also includes the option of contents insurance. However, there is often more to it than this. Each option of contents insurance can then be specialised with extra offers or benefits, meaning that it is quite easy to find insurance quotes to suit you, such as LV home insurance quotes. Not only does the content cover vary depending on the property and possessions you are insuring, but there are a few different types of cover for a number of situations.
Home-owner Cover
This is the most basic and simple form of cover, and does as it implies; protecting the contents of your own home. The principal behind this, as with any contents cover, is to ensure the possessions you own inside the house that cannot afford to replace if they are stolen.
Policies will often feature additional options, such as accidental repair, home emergency and extended absence cover to protect you in a number of scenarios. These are not compulsory, but the majority will offer an extra layer of security, and may be more important depending on your lifestyle and activity.
Tenant Cover
This is similar to home-owner cover, but is designed for tenants who don’t own the property they currently inhabit and rent. These insurance policies are often more specialised because you won’t be taking out contents with building insurance; the latter is the responsibility of the landlord.
As such, you only need to protect your contents, not the building. Fires and other damage caused from the building itself may still affect your possessions, however, so a good cover policy will include many of these.
Landlord Cover
The opposite of tenant cover, this option is reserved for landlords, who own property but rent it out to someone else. Whether this is with landlord insurance specialist or with a regular building insurance company, the aim is to insure the building against damage and potential repairs. The costs may be different, as you’re not the one living in the building, but they also take this into consideration with the likelihood of an incidentoccurring.
Further protection should be offered for accidental repair and loss of rent. After all, as a landlord your buildings need to be repaired quickly to ensure your business and reputation aren’t damaged, and good insurance is the key to making this happen.
Student Cover
Student cover works similarly to tenant cover, protecting contents but not the building. Students often mistake themselves for being under their parents’ home insurance, but by living at another address this is not the case.
Student cover, then, solves this by providing cheap insurance that covers the many valuables that a student might own, such as laptops and expensive books. Most student insurance can come with contents insurance, but it is clear that this might not always be practical, especially if someone else is paying the building insurance, such as your landlord.
In conclusion, these are the more common types of insurance. Knowing which one you are in will help you find the best home insurance policy for you. Have you ever compared house insurance prices online?