BUILDING AND CONTENTS INSURANCE
A Guide to Building and Contents Insurance: What They Cover and Why They Matter
Building and contents insurance are two types of policies designed to protect your home and belongings. Together, they provide financial security and peace of mind in case the unexpected happens. Let’s break down what each policy covers, why they’re important, and how they can safeguard your property.
What Does Buildings Insurance Cover?
Building insurance protects the structure of your home. This includes the walls, roof, floors, windows, and any permanent fixtures like fitted kitchens and bathrooms. Essentially, it covers anything that would remain if you turned your home upside down and shook it.
It typically covers damage caused by:
- Fire
- Floods and storms
- Subsidence
- Vandalism
- Burst pipes
- Fallen trees or vehicle collisions
Some policies may also cover outbuildings like garages, sheds, or fences.
Why Is Building Insurance Important?
If your home is damaged or destroyed, repair or rebuilding costs can be incredibly high. Building insurance ensures you won’t have to bear these costs alone. It’s especially important if you have a mortgage. Most lenders require building insurance as a condition of the loan.
Even if you own your home outright, this insurance protects one of your most valuable assets.
What Does Contents Insurance Cover?
Contents insurance covers your belongings. This includes everything you would take with you if you moved house—furniture, electronics, clothes, and valuables.
It typically covers loss or damage caused by:
- Fire or smoke
- Theft or burglary
- Floods and storms
- Accidental damage (if added as an extra)
Some policies also cover items outside the home, like a smartphone or bicycle, though you might need to include this as an add-on.
Why Is Contents Insurance Important?
Imagine replacing all your possessions at once. The cost could be overwhelming. Contents insurance helps by covering the cost of replacing or repairing damaged or stolen items.
It’s not just about big-ticket items like TVs or laptops. It also covers everyday essentials, such as clothing or kitchenware, which can quickly add up.
Combined or Separate Policies?
You can purchase building and contents insurance separately or as a combined policy. A combined policy is often more convenient and may save you money. However, if you rent your home, you’ll only need contents insurance. Landlords are responsible for buildings insurance.
Whether you’re a homeowner, renter, or landlord, these policies offer invaluable peace of mind. Take the time to review your needs and find a building and contents policy that suits your circumstances. It’s a small investment for big protection.
Need help with your building and contents insurance? Fill out our contact form below, and we’ll get back to you to arrange some quotes.
Can I get building and contents insurance if I live in a flood-risk area?
Yes, it is possible to get building and content insurance. While properties in high-risk flood zones may have fewer insurers to choose from, there are specialist providers and government-backed schemes like Flood Re that may help. We can explore what’s available and ensure you’re not overpaying for the right level of cover.
What’s the difference between new-for-old and indemnity contents cover?
New-for-old means your insurer replaces damaged or stolen items with brand-new equivalents. Indemnity cover takes wear and tear into account, so you’d receive the current value of the item. Knowing the difference helps you choose the right policy for your expectations and budget.
Am I covered if I accidentally damage my own belongings?
Not always. Accidental damage is usually an optional extra that can be added to your policy. It covers incidents like spilling paint on your carpet or dropping your phone down the stairs. We’ll help you weigh whether it’s worth including based on your lifestyle and budget.
Do I need buildings insurance if I’m buying a flat?
If you own a leasehold flat, buildings insurance is often arranged by the freeholder or managing agent, but it’s still your responsibility to check. You might contribute to the cost through service charges. If this is the case, you will still need contents insurance. We’re happy to help you clarify what’s included so you’re not caught out buying an unnecessary combined building and contents insurance policy.
Do I need building and contents insurance if I rent?
You do not need a combined building and contents insurance policy when you rent, as your landlord will cover the building insurance. However, it is wise to consider the contents cover to protect all of your personal belongings.