policy that which will replace damaged or stolen items on a
new for old basis and one insurance policy that which would
seek to mitigate any award through some consideration of wear
and tear. Both offer similar terms of protection to buildings
insurance other than for the fact that they would also cover
the insured party against theft resulting from burglary.
Although they are
different disciplines it will often make sense to consolidate
both buildings and content insurance into one deal, offered
by one provider. Apart from the potential economies of scale
involved this will also enable the customer to ensure that the
two aspects are synchronised and work in harmony with each other.
In a competitive
market cheap buildings and content insurance can be sourced
by shopping around, and by ensuring that the sum total of the
two when offered by one provider is not more costly than it
would be by purchasing both types of policy separately from
Whilst value is at
a premium, it is important that the small print is read and
understood. As already stated the building insurance may not
cover every structure that you require to be insured, whilst
the content insurance may exclude especially valuable items.
Decide what you need and then factor this in; cheap buildings
and content insurance is not always so cheap if it needs to
be added to.
Always take a holistic
view of your overall buildings and contents cover and decide
from all the available facts which policy, or combination of
policies, works best for your particular needs.