- Damage to foundations is always covered
- Standard buildings insurance including glass insurance
- All construction materials within the property are insured during alteration work
Buildings insurance on your residential property is indispensable, and may indeed be compulsory if you take out a mortgage. Buildings insurance can protect you from a major financial shock if your house should be damaged. Buildings insurance through Aon covers you against fire, break-in and weather conditions. Damage to glazing is included in the cover as standard.
Arranging buildings insurance for a domestic property
The level of your premiums will depend on five factors:
- The location of the house.
- The reconstruction value. This is the amount it would cost to rebuild the house in precisely the same condition.
- Whether you wish to guarantee against under-insurance: in this way you can prevent the situation where you have to pay out yourself for some of the damages, because the level of your buildings insurance has been set too low.
- The level of cover you select.
- The extent of the risk of damage to the property. For example if you have a thatched roof the risk of fire damage is greater than with a stone tiled roof.