Buildings Insurance

What is it?

If you have a mortgage on your home, your lender will insist that your property (and their security) is protected by Buildings Insurance. It will usually pay out if your property is destroyed by fire, floods or subsidence (although you will need to check if you live on a flood plain, for example). Damage to fixed fittings such as baths and kitchens are often included, as well as external sheds, greenhouses and garages. You might be offered buildings insurance when you take out your mortgage, but you don't have to take the policy from your lender. You should let us shop around to find you a quality product at a competitive price.

What isn't covered?

Your cover is based on what your home would cost to rebuild. You can check whether you have enough buildings insurance through the Building Cost Information Service (BCIS) website. It has an online tool to help you calculate the sum you should insure your building(s) for, in case your home has to be entirely rebuilt. You need to tell your insurer if you extend your property, for example with a loft conversion or conservatory. Building Insurance does not cover your belongings - these will need to be covered separately with Contents Insurance. If you plan to let your property you will need specialist landlord's insurance.

Benefits May Include:

• Accidental Damage Cover - Includes cover for accidental breakage of fixed glass, fixed sanitary fittings, ceramic glass in cooker hobs of built-in units, fixed solar panels, cables, underground pipes or tanks serving your property.
• Building Cover - Cover for the home and fixtures and fittings, garden walls, hedges, paths, drives and patios, car ports, permanent swimming pools built of brick, stone or concrete and any outbuildings.
• No Claims Discount (NCD) - Maximum discount offered: 1 year - 5 years. NCD can also be protected on some policies.
• Legal Liability - Up to: £2,000,000
• Metered Water - Up to: £1,500
• Loss of rent or costs for alternative accommodation - up to 20% of the sum insured.

Keeping costs down

You may find that you get a better deal if you buy buildings and contents insurance together. Most policies have a standard excess charge which means you agree to pay the first part of any claim, for example the first £100 or £150. Agreeing to pay a high excess may lead you to get a cheaper policy. Always compare what's covered by a policy, not just the price - the key policy information or a good adviser will help you do this. Some might be cheaper than others, but they may not offer the same level of protection. We do not use aggregator sites (aka comparison sites).