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    Buildings

    If you have a mortgage, your lender will insist that your property (and their security) is protected by buildings insurance. It usually pays out if your property is destroyed by fire, floods or subsidence (although you will need to check if you live on a flood plain, for example). Damage to fixed fittings such as baths and kitchens are often included, as well as sheds, greenhouses and garages.

    You might be offered buildings insurance when you take out your mortgage, but you don't have to take what's on offer. Use the key policy information to shop around and get the best deal for you.

    If you purchase a leasehold property (such as a flat in a block of flats) the freeholder may have arranged buildings insurance for the whole block, in which case you may not need your own buildings policy.

    What isn't covered?

    Your cover is based on what your home would cost to rebuild. You can check whether you have enough buildings insurance through the Building Cost Information Service (BCIS) website. It has an online tool to help you calculate the sum you should insure your building(s) for, in case your home has to be entirely rebuilt.

    You need to tell your insurer if you extend your property, for example with a loft conversion or conservatory. Your belongings are not covered – these need to be covered separately with contents insurance – see Contents insurance.

    Keeping costs down

    As always, shop around. You may also find that you get a better deal if you buy buildings and contents insurance together. Most policies have a standard excess charge which means you agree to pay the first part of any claim, for example the first £50 or £100. If you agree to pay a higher excess you might get a cheaper policy. Always compare what's covered by a policy, not just the price – the key policy information will help you do this. Some might be cheaper than others, but they may not offer the same level of protection.

    Benefits Include:

    • Accidental Damage Cover
    • Building Cover
    • No Claims Discount
    • Legal Liability
    • Metered Water
    • Loss of rent or costs for alternative accommodation
    YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

    Why Us?

    • NO OBLIGATION QUOTES & ADVICE
    • FAST DECISIONS IN PRINCIPLE
    • BEST HOME MOVER RATES
    • BEST FIRST TIME BUYER RATES
    • BEST REMORTGAGE RATES
    • HOME IMPROVEMENTS
    • HOME VISITS WITHIN LEEDS AND SURROUNDING

    Contact Us

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    18 High Street
    Kippax
    Leeds
    LS25 7AB

    TELEPHONE:

    0113 232 2320

    FAX:

    0113 287 2606

    EMAIL:

    advice@advantage-mortgages.com

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    Advantage Mortgage Services (Yorkshire) Ltd is an appointed representative of Openwork Ltd, which is authorised and regulated by the Financial Conduct Authority.

    The information on this website is for use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it. Registered address of Advantage Mortgage Services (Yorkshire) Ltd: 18 High Street, Kippax, Leeds LS25 7AB. Registered in England No. 5238006. Directors: Malcolm Proctor & David Sweeney