Material Damage Insurance
Years ago insurers called this insurance Fire and Special perils, but over the years they added perils such as Accidental Damage and renamed the section Property All Risks. Now they seemed to have settled on the phrase Material Damage.
Cover became so wide that they increased the excess to £250 to save upon the high cost of trivial claims and to encourage the policyholder to take more care. However competition for business has forced some insurers to review this stance and excesses of £100 are now available.
However please remember how vital it is to insure for the correct amount. If you underinsure the insurers have the option to reduce the payment by the proportion that the underinsurance bears to its correct value. Your valuation must take into account the full cost of rebuilding.
Select one of the links below for more details on that type of cover we can provide: