Is it essential to have home insurance?

If you’re a homeowner, most mortgage lenders insist you have buildings cover in place to protect their investment.

You don’t usually need buildings cover if you’re renting, but you may want contents insurance to help cover the cost of replacing your things if you suffer a loss.

What is home insurance?

Home insurance cover comes in two parts – buildings insurance and contents insurance. You can choose either one or both of these based on your needs.

Buildings cover insures your bricks and mortar for events like fire and weather damage, while contents cover could protect your belongings against problems like theft, damage and loss.

Buying a combined policy from the same insurer can often be cheaper than getting two separate policies.