Buildings insurance cover provides protection for the building. It covers any damage to the property and the fixtures and fitting within the home. It will pay for any repairs or re-building costs.
A traditional buildings insurance policy offers financial protection against loss or damage caused by fire, earthquakes, storms, floods, lightening, vandalism, riots, theft, landslides, falling trees and subsidence.
It is always wise to protect your home because you never know what around the corner and a comprehensive buildings insurance policy offer peace of mind cover that whatever happens you are financially protected.
For most homeowners a buildings insurance policy is a compulsory and legal requirement if you have a mortgage. The mortgage company will not lend money to anyone if they could risk losing it.
Buildings insurance can be taken out as a single policy or as a combined policy with contents insurance. Buying buildings and contents insurance together from the same provider can have its advantages. Homeowners are sometimes given a multi product discount for combining them and purchasing them together.
Individuals that rent a property will not require buildings insurance cover as the renter will be the one to need buildings and contents insurance, and this is called landlords insurance.