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Buildings insurance vital when moving home
The crossover period
For anyone buying or moving to a new home taking out buildings insurance for the new property is vital, as much for financial security as a requirement by the mortgage lender. But when should buildings insurance begin?
Furthermore, mortgage payments are due whether your home is habitable or not. By not having adequate insurance you risk the double whammy of having to fork out for repair work whilst also having to pay for alternative accommodation whilst your home is made habitable.
The difference between buildings and contents
Buildings insurance differs from contents insurance as it covers the bricks and mortar of the property rather than the possessions within it.
To distinguish exactly what is covered in each it is advisable to check the policy details; however as a general rule buildings insurance covers anything that is attached to the property like the kitchen cupboards for example, and contents covers anything that can be removed.
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