Home insurance is made up of two types of policy, buildings and contents cover, which can be bought individually or combined.
protects the physical property as well as its permanent fixtures and fittings, such as fitted kitchens and sanitary ware.
Policies could also include cover for outbuildings such as greenhouses, sheds and garages, along with accidental damage to underground pipes, cables and glass in doors and windows.
If you're renting it should be your landlord's responsibility to sort out this cover so you should only have to concern yourself with contents insurance.
Typically buildings insurance covers damage caused by flood, fire, subsidence, theft, storms or malicious damage.
Most lenders make it a condition that you have buildings insurance when you take out a mortgage, and may offer you a quote for buildings cover. But remember that you don't have to accept their policy and you may find a better deal by shopping around.
Making a reasonable assessment of your property's rebuild value is a key element in organising buildings insurance.
protects any valuable possessions that you keep within your property - this could be roughly defined as anything that you would take with you if you moved house. This could include items such as:
- Household goods
- Kitchen equipment
- Television and electrical items
- Personal items and valuables
Contents policies will usually provide cover against theft, fire, vandalism, accidental damage, water leaks or explosions.