Building Cover topics

If you have buildings insurance cover with Intelligent Insurance, your patio and walls are automatically included. Here’s a breakdown of the coverage: Permanent Fixtures Coverage These are considered permanent fixtures and are covered under your buildings insurance. Enjoy peace of mind knowing that damages to these essential elements of your property are included in your policy. Contents in the Open Coverage Items that can be moved around, such as garden furniture or plant pots, fall under the category of contents in the open. The coverage for these items can vary by underwriter, with protection extending up to £1,000. Summary Understanding the distinction between permanent fixtures and contents in the open ensures that your coverage aligns with the specific components of your property. Intelligent Insurance provides comprehensive solutions to safeguard both your property’s structure and its movable contents in outdoor spaces.

Market Value Explanation The market value is the figure that represents a realistic amount your property would sell for on the market at the time the valuation is taken. It is influenced by various dynamic factors such as location, current market trends, and the overall condition of the property. Rebuild Value Explanation Understanding the rebuild value, also known as the reinstatement cost, is imperative for homeowners seeking comprehensive insurance coverage. This estimate goes beyond merely determining the construction expenses; it includes a meticulous calculation of all associated costs in the event of a complete rebuild. The process involves accounting for not only the cost of demolishing what remains of the original structure but also expenses related to ground clearance and site preparation. Crucially, the rebuild value takes into account professional fees incurred during the reconstruction process, such as those for surveyors and architects. Summary Understanding these intricacies is vital for homeowners to ensure accurate and adequate insurance coverage in the event of unforeseen circumstances.

Intelligent Insurance will cover you as standard for: Up to £1,000,000 to cover loss or damage to the structure of your property Cover for loss of rent and costs of alternative accommodation Property owners liability cover ‘Trace and Access’ cover in order to locate and access the source of water leaks, and making good following a repair You can also add accidental damage cover, and increase the limits and level of cover on your policy – speak to one of our insurance advisors Live Chat to find out more.