Protecting Your Home and Belongings
Buildings and Contents Insurance Advice
Home insurance should reflect the property you own, the belongings you want to protect and the risks covered by the policy. Buildings and contents insurance do different jobs, and the correct arrangement can vary for houses, Scottish flats and rental properties.
Anderson Mortgages can advise on and arrange suitable cover whether or not we are arranging your mortgage.
Two Different Types of Cover
What Is the Difference between Buildings and Contents Insurance?
Buildings insurance covers the structure of the home and permanent fixtures, subject to the policy terms. This commonly includes elements such as the roof, walls, floors, fitted kitchen and bathroom. Mortgage lenders normally require appropriate buildings insurance to be in place.
Contents insurance covers belongings kept within the home, such as furniture, clothing and electrical items. Policies can also offer optional cover for accidental damage, personal possessions away from home or specified valuable items.
Some homeowners need both types of cover on one policy. Others may need only contents cover because buildings insurance is already arranged for the wider property. The first step is to establish what is already insured and who is responsible for maintaining it.
Advice Based on the Property
What Should a Home Insurance Review Consider?
The Property and Its Use
The type of home, construction, occupancy and whether it is owner-occupied, let or sometimes unoccupied can affect the available cover.
Rebuild Cost
Buildings cover relates to the cost of rebuilding the property, which is not the same as its market value.
The Value of Your Contents
Cover should reflect what it could cost to replace the belongings in the home, including any items subject to individual limits.
Excesses
The excess is the amount you contribute towards an eligible claim. Different excesses may apply to different types of claim.
Optional Protection
Accidental damage, personal possessions away from home, home emergency or legal expenses may be available, depending on the policy.
Significant Conditions
Security, occupancy, maintenance and notification requirements can affect cover. Important exclusions and conditions should be understood before proceeding.
Scottish Flats and Common Buildings Cover
Check What the Factor or Common Policy Already Insures
Buildings insurance for a Scottish flat may be arranged through a property factor or under a common policy for the block. If suitable buildings cover is already in place, the individual owner may need contents insurance rather than a second buildings policy.
Do not assume that the common arrangement covers everything you need. Ask for the policy information and check the insured property, sums covered, excesses and any responsibilities that remain with individual owners. Your solicitor can advise on ownership and title obligations where needed.
Anderson Mortgages can review the available insurance information and discuss contents-only cover or another suitable arrangement based on the circumstances.
Cover for Landlords
A Rental Property Needs the Right Type of Insurance
Standard owner-occupier home insurance is not designed for every rental situation. Landlord insurance can provide buildings or contents cover for a property that is let, with other options depending on the policy and the way the property is used.
The insurer will need accurate information about the property, tenants, occupancy and any periods when it may be empty. Holiday lets, houses in multiple occupation and other non-standard arrangements may need more specialised assessment.
Insurance advice is separate from legal, tax or property-management advice. Landlords should obtain the relevant professional guidance on their wider responsibilities.
Important to Understand
Price Is Only One Part of a Home Insurance Comparison
Two policies with similar premiums can provide different limits, excesses, exclusions and optional benefits. The cheapest quotation may not protect the property or belongings in the way you expect.
Accurate information is important when the policy starts and when circumstances change. Tell the insurer about material changes such as building work, a change in occupancy or a property being left unoccupied for an extended period. An error or omitted fact can affect a later claim.
Your adviser will explain the recommended policy, significant conditions and the insurer panel used by Anderson Mortgages before you proceed.
Home Insurance Questions
Frequently Asked Questions
Customer Reviews
What Our Customers Say
Review Your Home Insurance
Ask Us About Buildings or Contents Cover
Tell us whether you need cover for your home, belongings, flat or rental property. Please do not include policy numbers, security details or other sensitive information in the public form.
As with all insurance policies, conditions and exclusions will apply.