Insurance

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FAQs for Insurance

Home Insurance FAQs

What is Home Insurance?

Home insurance cover comes in two parts, buildings insurance and contents insurance. You can choose either one or both of these based on your needs. Buildings insurance covers your bricks and mortar, and contents insurance covers your belongings.

Our Cambridge Home Insurance provides the following cover:

Buildings insurance will cover the rebuilding costs of your property. Your home, garage, greenhouse or any other building forming part of your home will be covered against a wide range of risks including fire, storm and subsidence.

Contents insurance will provide core cover for your possessions like: furniture, household goods and carpets against theft, damage and loss. You can add on additional contents such as personal items or a bicycle can be added to your policy giving you peace of mind that you have the right level of cover and that you only pay for what you need.

You receive a discount if your buy a combined policy through Cambridge Home Insurance.

Do I need Home Insurance?

Whether you have a mortgage, own your home out-right or are renting, you need home insurance.  If you are applying for a mortgage, most lenders will require a home insurance policy to be in place as a requirement of the loan.

Buildings insurance covers your home against a wide range of risks including fire, storm and subsidence.
Contents insurance can give you peace of mind that your possessions are covered if you suffer a loss. Cambridge Home Insurance can be tailored so that it covers the items you need it to. Why pay to insure a bicycle if you don’t have one? Or if you have an expensive bicycle, you need to make sure it is insured for the correct value.

If you are renting a property then the property will most likely be covered by the landlords’ buildings insurance policy. You may want contents insurance to help cover the cost of replacing your things if you suffer a loss.

Why is it important to have the right level of cover?

It's important to make sure you are adequately protected, so if you suffer a loss, you can claim the full amount to cover your possessions. If you do not have the right level of cover you run the risk of being under-insured and your claim being reduced. This means you are unlikely to be able to claim enough to cover your losses.

With Cambridge Home Insurance it is easy to make sure you have the right level of cover, it provides core cover for both buildings and contents policies plus a range of Extra Cover Options. This allows you to tailor the level of cover to suit your circumstances, paying for what you need.

Our friendly staff would be happy to help you check you have the right level of cover.

Do I need Home Insurance if I rent?

If you are renting a property then it is the landlords’ responsibility to make sure the building is insured. You may want contents insurance to help cover the cost of replacing your things if you suffer a loss. It is unlikely that your possessions will be covered under your landlords’ insurance policy.

Cambridge Home Insurance gives you the flexibility to tailor your contents policy so that you only pay for what you need.

Do I need Home Insurance if I let my property out?

Most insurance providers will offer home insurance for landlords – often referred to as Buy to Let insurance.

Buildings
If you own a property and have an outstanding mortgage balance then you will normally need to have buildings cover to meet the terms of the mortgage loan. If the property is mortgage free you still need to think about making sure your investment is covered against a wide range of risks including fire, storm and subsidence.

If the property you wish to rent out is leasehold, then Buildings cover is often included as part of your annual management fee.

Contents
Depending on whether you decide to rent the property furnished or unfurnished will affect the level of contents cover you require. If the property is unfurnished you may want to consider cover for any white goods or carpets etc. If you are renting the property furnished you may want to consider making sure your personal items are covered. It is important to make sure you have the right level of cover for your circumstances.

Cambridge Home Insurance allows you to tailor your contents policy so you only pay for what you need.