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Home insurance, also known as house insurance, protects you financially against loss to your home and belongings.
As an example, if your home is damaged or destroyed by fire, having the right cover could mean the home insurance provider will compensate you for the repair or rebuilding of your home as well as the contents within.
There are two types of home insurance: buildings insurance and contents insurance, which can be purchased separately or together from the same insurer.
Damage to a building is covered by buildings insurance. Roofs, walls, floors, as well as permanent fixtures such as windows and kitchens, are included while having contents cover protects your furniture, jewellery, clothing, and other valuables from damage, destruction, or theft.
Generally those that own or mortgage their home will require a combined policy; while renters may only need contents.
The short answer is no, depending on your circumstances - Buildings insurance and contents insurance are not required by law.
For homeowners, as long as you owe a mortgage on your home, your mortgage provider may require that you have buildings insurance in place - just remember to shop around as this doesn't have to be from your mortgage provider and can be cheaper elsewhere.
It is possible to insure both your buildings and your contents though a pick ‘n’ mix of policies:
Your building insurance covers both the structure and the fixed fittings inside of your house. You’re covered if your home is damaged by fire, flood, storms, falling trees, or vandalism. Subsidence, water damage, and even burst pipes may be covered by your policy.
The contents of your house are covered by contents insurance, such as your furniture, home appliances, and clothes (carpets are usually covered as well). High-value items such as jewellery, computers, and bicycles can also be covered separately. It’s always a good idea to check your policy to check whether your contents insurance covers fixed fittings, so you know what is included.
Your house contents are insured against theft, vandalism, floods, etc. For clarification on what is and isn’t covered by your policy, it is a good idea to check with your provider.
Coverage can be combined – buildings and contents can be insured under one policy. Making a claim is easier if you do this. It’s often cheaper to take out a combined policy than a separate policy, but you should always compare quotes to make sure it’s the right choice for you
Yes - the price of your home insurance is affected by your credit score. Credit history helps insurers understand what level of risk they are taking with you and set the appropriate rate.
Typically, homeowners insurance covers unoccupied properties for 60 days - everything afterward will not be covered. If your home is empty for more than your standard home insurance policy allows, you can purchase an unoccupied home insurance policy.
An unoccupied home insurance policy covers you when your home is empty for longer than your standard policy will allow.
Our personal belongings at home are normally covered by our home contents insurance, however these are not covered when we're out of the house. Many policies include different levels of coverage, but you may have to pay extra for things like jewellery or gadgets that you take outside of the house.
You need to have personal possessions insurance when you take your belongings outside of your home to protect them in case they are damaged or stolen.
Historic and architecturally significant buildings are often covered by a specialised policy because many insurers don't offer standard policies.
See our listed building insurance guide for more info.
Several factors can affect the price of your home insurance, including:
A single insurer can offer both buildings and contents cover for your home, which is a great convenience.
You have access to both products with us, so if you need to file a claim you only need to deal with one company, which can help speed up the process. In addition, there is only one excess amount to pay.
MoneyArk makes it easy to compare home insurance quotes online. It's easy to compare quotes - just fill out a few details about yourself and your house.