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Let us be clear, the Building insurance covers the structure of your home, not the contents. This insurance includes permanent fixtures and fittings such as:

  • The Structure of your property
  • The Roof and ceilings
  • Walls, Windows and Doors
  • Fitted wardrobes and kitchen units etc.

Generally these policies will also cover any outer buildings such as a garage, shed or greenhouse.

As a rule of thumb this type of Insurance will cover your property and anything in your property which is fixed. In other words, this type of Insurance usually covers anything that cannot be removed from the property.

Generally a good buildings Insurance policy could potentially offer you cover against:

  • Fires, lighting, explosions and smoke
  • Subsidence
  • Storm  and flood Damage
  • Lightening strike Damage
  • Burst pipes and other incident of water leakages
  • Oil leak from central heating system in your house
  • Damage caused by falling trees or branches
  • Damaged caused by a Vehicle
  • Vandalism or third party damage
  • Theft or attempted theft
  • Earthquakes and Explosions

If you live in an area at risk of flood or subsidence, you may need extra cover or your insurer might impose a higher 'excess' - the amount you have to pay towards any claim. Your policy might be more expensive as a result, but the extra cost is probably worth the peace of mind.

If you are in the process of getting a Mortgage it is very likely that your Mortgage lender will insist that you take out Buildings Insurance.

The details of the cover will be in the small print of the policy, which you should read carefully. You should also check the small print for any exclusion. Common exclusions from buildings insurance are:

  • Damage arising from wear and tear
  • War or acts of terrorism
  • Frost damage
  • Radioactive contamination
  • Sonic bangs from aircraft

Many Mortgage lenders will offer you Buildings Insurance, but be sure to shop around as you do not have to take out their policy unless you have signed something to the contrary.

As a piece of advice, you should be truthful to reveal any pertinent facts when you are about to apply for home buildings insurance as otherwise you could your claims can be invalidated against real findings by the insurer.

Also remember, if the property under claim is left unoccupied for more than 30 days then the insurer can deny pay out.  

Moreover, building insurance policies are not all the same. They are designed as per specific purpose and needs and hence different policies can cover different things and will carry different exclusions. It becomes very important to go through carefully the relevant ‘terms and conditions’ of your insurance policy before you choose to sign any of these.

As understood the cost of these policies can vary greatly depending on the provider like any other insurance product.

But don’t worry! By speaking to an Independent Financial Adviser about your Buildings Insurance you can make sure that:

  1. You get the right amount of  cover
  2. You understand exactly what your policy does and doesn’t cover you for
  3. You get a fantastic deal on your Insurance Policy

In the long run speaking to an Independent Financial Adviser and getting some Insurance advice could prevent you from finding out your not covered for something after it’s already happened!

Getting Insurance advice from an Independent Financial Adviser can prevent you from making mistakes, which could lead to your policy being invalid.

And remember, because an Independent Financial Adviser has access to a wide range of insurers, you can be certain you are getting the most suitable deal available as per your situation.  

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