Standard Home Insurance Terminology

Accidental Damage
This extends the standard cover to include accidents that are caused by the policyholder/s. An example of this for Building insurance would be putting your foot through the ceiling in the loft. An example of this for Contents insurance would be spilling paint the carpet.

Alternative Accomodation
Provides temporary houseing for you in the event that a claim has left your property unliveable.

Buildings
Covering the actual bricks and mortar.

Contents
Covering your possessions, such as carpet, furniture, clothing, TV and stereos, clothing, jewellery etc.

Excess
The amount of a claim that is the responsibility of the policyholder. This would usually be £50 for most claims, raising to £1,000 in respect of subsidence claims.

New for Old
Under a New for Old policy you are covering against the replacement cost rather that the present cost.

Personal Possessions
Specified and Unspecied Belongings
Covering your contents outside your home. This is split between Unspecified and Specified. Usually Unspecified would be items with a single value up to £1,000, whilst Specified would allow for items with a single value over £1,000 (with no upper limit). Cover for Personal Possessions would usually be worldwide abnd can include Clothing, Sports equipment, Jewellery, Laptops, Mobile phones, IPod etc

Personal and Public Liability (relating to home insurance)
This covers you and your familiy's common law liability for injury or damage to third parties or their property, caused by your negligence. Cover also includes injury to household employees, such as cleaners, but again only your common law liability.

Standard Cover
This provides cover on a New for Old basis for Fire, Theft, Flood, Malicious Damage, Aircraft & Explosion. Under a New for Old policy you are covering against the replacement cost rather that the present cost.

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