Engaging with your home insurance requirements can be challenging but running the risk of not tuning in and getting the most suitable cover – and the right level of cover – could be financially devastating if an unwelcome event were to occur.
Although home insurance is not required legally, there is a good chance that at some point you will need it. ABI data1 shows that home insurers pay out over £8m to customers every day, highlighting the vital role that it has to play. Unexpected financial setbacks could take you years to recover from. It’s strongly advisable to protect your home with two types of insurance – buildings and contents.
Do I need home insurance?
If you own your own home, you need to have buildings insurance. Your mortgage lender will usually stipulate this as a condition of granting your loan, so not having a policy could put your mortgage and your home at risk. You will need to insure the rebuild cost, this is the amount of money you would need to completely rebuild your home. The cost of rebuilding your home isn’t the same as its market value and is usually less. That’s because the market value takes into account the value of the plot and land, location, local amenities, and supply and demand. Although there’s no requirement to have home contents insurance, it is a good idea to have cover in place in case the unexpected happens and your home is burgled, or your possessions are damaged by fire or flood.
What is buildings insurance?
Buildings insurance covers the structure and permanent fixtures of a property, including kitchens and bathrooms. Policies provide cover for the cost of repairing or rebuilding your home if it’s damaged.
What does contents insurance cover?
Home contents insurance covers all the things kept in a home including TVs, furniture and personal belongings. You can also include additional cover such as accidental damage that will insure personal items when they are used away from home such as laptops, jewellery and cameras.
Should I buy buildings and contents insurance together?
Premiums can be lower if you buy your buildings and contents insurance from the same insurer. If there’s an event that affects both the building and your possessions, it can be more straightforward if the claim is managed by one insurer.
What about valuable items away from home?
Cover for belongings you have with you while you are away from home are not always covered under a standard contents policy but can usually be included at an additional cost.
A vital shock-absorber
Home insurance is an effective shock-absorber that protects thousands of families each year from unexpected and unwelcome loss, damage and expense. We can help you get the right cover in place for your needs.
As with all insurance policies, conditions and exclusions will apply.
1ABI, 2021
Catch up on our other blog posts:
Are you protected from canine chaos?
If you have a dog, you’ll know that they can be cute, loving… and a whole heap of trouble! Aviva1 recently backed this up when it revealed some of the company’s more noteworthy pet-related claims. From the pooch who turned on a tap and flooded his owners’...
Save by living just outside hotspots
By choosing to live just outside highly sought-after locations, analysis has shown that homebuyers could benefit from savings of up to 55%1, without forsaking their preferred location. Average savings come in at around 34% when locating five or ten minutes from a...
The money taboo – it’s good to talk it out
Are you worried about your finances? If so, you’re certainly not alone. According to a recent survey, 90% of households are worried about rising prices1. Financial worries can cause a great deal of stress and anxiety. In fact, nearly one in five people say they have...
Wellbeing benefits of income protection
Income protection insurance can be a cost-effective way of protecting yourself financially if you are unable to work due to illness or injury. What many people don’t realise is that taking out an income protection policy can have benefits beyond the financial....
Plan to avoid home buying stress
Job interview, driving test, family life… the list of life’s stresses is, unfortunately, long and varied. New research has revealed, however, that buying a home comes out on top. Can’t Buy Me Stress 37% of recent UK homebuyers said that buying a house was one...
Seeing protection in a new light
Nobody wants to think something bad happening to them. Perhaps it’s why so many people shy away from protection insurance – after all, it’s all too easy to think ‘it’ll never happen to me’. Unfortunately, ‘it’ can and does happen, whether ‘it’ be injury,...
Back to normal? Property update
Amid the backdrop of war in Ukraine and the spiralling cost of living, unpredictability is at the forefront of many people’s lives right now. The outlook for the housing and mortgage markets is no less uncertain. Taking a step back, however, it is possible to...
Sandbanks dream home
This month we were pleased to help clients buy their dream home in beautiful Sandbanks. With one eye on retirement they wanted to live in style, and we were able to use their company profits in order to maximise their mortgage borrowing potential. This enabled them to...
Equity Release for home improvements in Redditch
We were so pleased to receive a mortgage offer for an equity release client this month. She came to us asking for help in obtaining funds because her boiler had packed in, leaving her with no hot water or heating in the middle of winter. Not ideal for anyone, let...
Rental market boom likely
Historically, a decline in property sales has also led to a boost in private rental market stock. This is based on research1 looking at both sales and rental markets during the 2008-09 financial crisis and recent pandemic downturn. In 2008 property sales volumes...
(Your home may be repossessed if you do not keep up repayments on your mortgage)
We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)
For Lifetime Mortgages/Equity Release the fee will be £799.

Our mission is to provide honest mortgage advice, whilst helping you save money.
Get in contact
Flexible appointments
Or call —02380224925