What is buildings insurance?
If you're a homeowner and you want to protect your house against the elements, then a buildings insurance policy could be right for you.
Generally speaking, it covers the non-moveable parts of your home like fitted kitchens, bathrooms and other fixtures as well as the building itself. Before you buy a house, most mortgage lenders will insist that you take out a policy to cover the building.
If you're a landlord, you may need a specialist policy that is designed for rental properties to cover the extra risks involved.
What does it cover?
With a buildings insurance policy, you could be covered for:
- Damage to your house from flooding, fire and storms
- Structural damage caused by subsidence and fallen trees
- Damage to outbuildings like garages, sheds and patios
- Accidental damage, in case you put your foot through the attic floor
Storm damage is the second most common claim on a buildings insurance policy after accidental loss or damage, such as a broken window. With unpredictable weather changes, getting covered is worth considering.
Roughly one in six properties in the UK is at risk of flood damage, and the number of people at risk is predicted to grow significantly over the next few decades. With this in mind, protecting your house and fixtures from flood damage could save you paying thousands of pounds in rebuild costs.
Points to consider
One of the questions asked when getting a buildings insurance quote is the predicted rebuild cost of your house. If you don't know what this would be, the Association of British Insurers (ABI) have created a Rebuild Calculator to help you.
If you want to make any improvements to your home such as adding an extension or carrying our any major work, it's worth letting your insurer know beforehand in case you need to make a future claim.
If you need to make a claim, our 'how to' guide could help but bear in mind that claiming on your policy could see your premiums rise.
Most standard home insurance policies could allow the house to be unoccupied for up to 30 consecutive days (enough time for a long holiday) and still be covered. Any longer than that, and you may need to seek out specialist cover.
Why compare buildings insurance with Confused.com?
- We've been comparing insurance policies for over ten years, so with a decade's worth of experience, we use our expertise to help you find our best deals.
- We have a selection of handy guides to help you out if you're building a new kitchen, need to do some quick DIY or want to know more about what locks to use