Buildings and contents insurance is important to consider if you are a property owner or a landlord. As soon as you exchange contracts on your property, you are legally responsible for the building and so it is required by your mortgage lender that you have appropriate cover to ensure that your investment is protected.

Buildings insurance will cover your home from damage which is out of your control, such as by fire, flood, storm, subsidence, or vandalism. The structure of the building and its fixtures will be protected, and your policy would also cover repairs needed due to unforeseen issues like leaky pipes, faulty electronics and accidental damage.

You should insure your home for the full amount it would cost to rebuild completely using the most accurate estimate possible, considering prices of materials and labour at the time you will need it. This is in case something unforeseen and devastating, such as a gas explosion, should destroy your home completely.

Some providers offer policies that include both buildings and contents protection, which will not only cover the structure of your home, but also stolen, damaged or destroyed goods from your property.