What does buildings insurance cover?
Do you need buildings insurance?
Buildings insurance is not a legal requirement, but considering the amount of money we spend on our homes, insurance could be seen as a good idea - especially if you live somewhere at a high risk of flooding, crime or subsidence. Your mortgage lender might also require you to buy it.
Bear in mind that you should only get buildings insurance if you own your own property – and only then if your home isn’t part of a block of flats. If you are a tenant, your landlord is the one to buy insurance for the building.
What’s the difference between buildings insurance and contents insurance?
Buildings insurance and contents insurance are two sides of the home insurance coin. The former protects the structure of your property if it’s damaged by natural disasters or vandalism, and the latter protects your possessions.
As a rule of thumb, anything that can be carried out of a house is protected under contents insurance, which includes carpets, curtains, white goods, light fittings and furniture. Anything fixed to the structure of the house, including built-in wardrobes, plus things like your garage or conservatory, are covered by buildings insurance.
Do you need documents to get a buildings insurance quote?
No, you don’t need documents to get a quote. However you do need to know basic facts about the property you want to insure, including its age and the materials it is built from.
How do you calculate the rebuild cost?
You can calculate how much it would cost to total rebuild your home either by hiring a chartered surveyor, or by using MoneySuperMarket’s home insurance calculator to get an estimate.
The rebuild cost of a house is how much it would cost to construct it in the same way with the same materials from scratch at today’s prices, including labour. This is not the same as your house’s market value, which also includes the price of the land it’s built on, and local amenities and transport links.
How do you get a buildings insurance quote?
The simplest way to get a quote on buildings insurance is to give MoneySuperMarket a few details on your home. We will use your information to get quotes from a range of house insurance companies, which you can then search and choose the deal that suits you. You can also search for contents insurance at the same time, or even buy a policy which combines home and contents insurance.
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