Buildings & Contents Insurance: Inside-Out Coverage

2007-03-08 10:33:40

( Insurance )



Buildings & contents insurance is a type of property insurance that provides coverage not just for the actual structure like your house, but has coverage for the things that are inside the building as well. It is a comprehensive policy that combines house insurance with content insurance.

TOTAL COVERAGE

If you think about it, buildings & contents insurance actually makes more sense. After all when your home gets damaged or totaled by fire or other misfortune, it stands to reason that all your house contents are damaged as well. Getting a building insurance without matching content insurance is not a very smart move because your house is only as valuable as the things that are inside it.

Most insurance companies give you the option of purchasing a separate or integrated policy for building and content. You can also purchase a building insurance from one company and buy content insurance from another insurance provider. How you want to go will depend on your needs. Generally though, a package that bundles both buildings & contents insurance will cost you less than it will if you purchase separate policies.

ITEMIZED LIST

Buildings & contents insurance has many provisions and guidelines. Usually, buildings & contents insurance has to be very explicit when it comes to naming the events and circumstances that are covered in your policy. This is very important to know because you are not automatically entitled to building insurance benefits just because your house was destroyed. For you to receive anything, the cause must be mentioned specifically in the building insurance contract.

For content insurance, the actual things that are being insured must be mentioned in the policy contract. If the valuable was not listed, then you cannot make any claims against it. If you are getting content insurance, make sure that you have an inventory of your valuables and a list of those items that you want insured.


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