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home & contents insurance

Home insurance – Buildings vs. contents cover


Home insurance is important whether it’s your first home, your moving, your remortgaging etc.

Your home is likely to be the most expensive purchase you’ll ever make so it’s important to insure it properly.

Having the right type of cover in place means your property will be protected for a range of incidents, from burglary to a burst pipe.

We know we need to insure our home but what is the difference between Home Insurance and Contents Insurance?


Buildings insurance explained

Buildings insurance covers the permanent fixtures and fittings of a property. These are things like baths and toilets, fitted kitchens, and even decorations such as wallpaper.

It may also provide cover for your garage, greenhouse or garden shed. Always be aware policies vary so it’s important to check the small print to be sure.

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Although buildings insurance is not a legal requirement, if you own your home, it should be considered essential. Let me explain.

If you own the property and something happens while you aren’t living there, you are still liable.


Contents insurance explained

Contents insurance is designed to protect your belongings against loss or damage. As a general rule, it will cover anything that can be taken with you if you move home.

These will be things like kitchen appliances, bedding, furniture and valuables.

It can be difficult to assess exactly how much contents insurance you need. A simple way to do so is to go through each room and add up everything you would need to replace in the event of a claim.

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Again there is no legal requirement to have contents insurance. It is always recommended simply because things can happen. Most people will get contents for the big ‘what if’s’ such a fire or flood.


Cover for renters

If you rent your home, it will be your landlord’s responsibility to arrange buildings insurance for the property.

You will not need to take out your own policy. However, if you want to ensure your belongings are protected, contents insurance can be a sensible purchase.


Check for exclusions

As with any insurance policy, it is important to check for any exclusions that may apply. These will vary depending on the insurer but can include general wear and tear or damage that happens gradually over time, such as damp or rot.

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Contents insurance will usually have a single item limit which means any belongings worth more than this, such as musical instruments or jewellery, may need to be named separately on the policy.

For more information about Home and Contents please see our guide here – Home and Contents insurance

Mortgage Squared are happy to help you with your Buildings and Contents Insurance. Give us a call today on 08081 551 807.

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