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Building insurance

A buildings insurance policy is there to help in case of a catastrophic event, such as something that might require the rebuilding of your house. As a result, you’ll usually be asked to estimate the cost of rebuilding your property when you take out the policy.

These policies are required of homeowners by mortgage lenders. That’s because they want to make sure that they get their money back, whatever the circumstances. But, even if you aren’t reliant on a mortgage for your property purchase, it makes sense to take out this insurance.

You will often receive discounts if you have built up a no-claims bonus (because you’ve not claimed for a period of time) and if you combine your buildings and insurance policies, taking both from the same insurance provider at the same time.

So what circumstances can you expect to be covered for? Most buildings insurance policies will, as standard, cover the following: