Buildings Insurance

Although your mortgage lender may insist you take out a buildings insurance policy as a condition of their lending, they will not necessarily insist that you take out a buildings insurance policy with them. You can guarantee that they will push their own buildings insurance policy, but you should still shop around for the best product and price.

Buildings insurance is to protect the actual building and the permanent fixtures in your property; when considering what is covered under your buildings insurance simply ask yourself what items could you reasonably take to a new property if you were to move home, and any item that cannot reasonably be removed is likely to be covered under your buildings insurance policy.

Your buildings insurance policy should also cover your outbuildings, such as garages, sheds and green houses, however some insurers may require a small addition to your premium for this.

The type of risks that most buildings insurance policies cover are fire and lightening damage, earthquakes, storms and floods, as well as the damage inflicted by thieves entering your home. In addition problems with pipes, heating installations or tanks, and the damage caused by water or oil leaking from them, should also be covered under most policies. The more unusual recordings of damage to property include riots, vandals, falling trees or aerials, and falling objects from aircraft; these are not necessarily covered under a standard building insurance policy and your policy document should be scrutinised.