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7 top home insurance questions answered
We want to ensure you have the right home insurance to suit your needs. To help you, we have put together a useful guide to answer the questions we are most frequently asked by our customers.
2. What is the difference between buildings and contents cover?
Home buildings insurance protects the actual structure of your home and its outbuildings. This includes the fixtures and fittings of your home such as the roof, walls, ceilings, floors, doors, windows, and fitted kitchens and bathrooms.
Home contents insurance covers your personal possessions such as clothes, furniture, electrical items and valuables. Essentially, the things you’d take with you if you were to move home.
4. How much contents insurance do I need?
The easiest way to work out how much cover you need is to go round each room in your home and add up the value of all the contents. Remember to include the contents of your garage, shed and garden if you have one.
The Association of British Insurers offers a useful checklist to help you add up the value of your contents in each room.
Top tip: To remain adequately insured, don’t forget to increase cover when necessary - for example when you buy any new items of value.
6. What happens if I am under-insured?
If you don’t provide accurate figures for your buildings or contents insurance you may have issues if you ever need to make a claim, and may not receive the pay-out you might have expected. This could risk leaving you financially worse off as a result.
Top tip: If you ‘over-insure’, you may end up paying more than you need for your policy, so it’s always worth making sure your figures are as accurate as possible. Seek guidance from your policy provider if in doubt.
With Home Insurance Select, we don't ask you for the rebuild cost. We will cover the full cost to rebuild your home.
Important legal information
Lloyds and Lloyds Bank are trading names of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).
