insurance offers protection in your home such as the roof, walls, floors, bathroom fittings and ceilings. Garages, sheds and fences also tend to be covered. Buildings insurance is not a legal requirement but most mortgage lenders will insist the cover is in place to protect the property.
What type of home insurance policy is right for me?
There’s no real one-size-fits-all and the type of cover you’ll need will depend on your own living situation.
If you own your home and have a mortgage, buildings insurance is usually compulsory as your lender will typically insist that you’re covered to protect its investment. A good buildings policy should cover the full repair and/or rebuild of your home should the worst happen.
If you’re a homeowner you may also wish to get contents cover to protect your belongings, meaning a combined buildings and contents policy could be right for you.
Meanwhile, if you rent your home you’ll likely only need contents cover as your landlord should have protection in place for any damage to the building itself.
You can compare all policy types via Confused.com.