Buildings Insurance
What the insurance company focuses on is reconstructing the actual underlying material object - not valuing the assets market price.
The most common risks and recouped costs that can be covered for under insurance
are:
Fire
Explosions
Earthquake
Storms and flooding
Water leaks and pipe bursts from the properties plumbing system
Accidental damage
Subsidence
Debris removal and building fees
Riot, civil commotion and vandalism
Public Liability
Structural Theft ( such as copper piping for example)
Damage caused by break-ins or attempted breaks in to the premises.
Building insurance wont cover any actual theft of valuable contents or personal belongings.
For this another policy is usually taken out called ‘Home Contents’ insurance.
Unlike buildings insurance,lenders have no particular interest in Home Contents insurance and will rarely if ever state a clause that you will have to take it out with them.
