Building & Contents Insurance

What is Building’s Insurance?

If you have a mortgage, your lender will insist that your property (and their security) is protected by buildings insurance. It usually pays out if your property is destroyed by fire, floods or subsidence (although you will need to check if you live on a flood plain, for example). Damage to fixed fittings such as baths and kitchens are often included, as well as sheds, greenhouses and garages.

You might be offered buildings insurance when you take out your mortgage, but you don’t have to take what’s on offer. Use the key policy information to shop around and get the best deal for you.

If you purchase a leasehold property (such as a flat in a block of flats) the freeholder may have arranged buildings insurance for the whole block, in which case you may not need your own buildings policy.

What is Contents Insurance?

Contents Insurance covers the loss of or damage to the contents of your home. This can include your furniture, electrical goods and other items within your home.

Some policies will also cover you for items you take out of the home i.e. phones, jewellery and other valuables. It’s worth knowing that different policies offer different levels of cover but generally you’ll be covered against theft and fire.

Most policies also offer the option to insure against damage you may cause by accident. It is always worth seeking advice before making any decisions.

To find out more about Buildings and Contents Insurance, please get in contact today.