The Importance of Home Insurance

Home insurance is one of the most expensive bills you pay out each year, but it is certainly worth it. In most cases your home and belongings will be fine, but you know the second you decide not to take out insurance something will go wrong.

So what will happen if something actually does go wrong? Think about this, do you have enough money to rebuild your home or replace all the expensive gadgets and garments that you own? It would be an expensive job – that’s why online companies like offer to help you out.

In most cases, mortgage lenders won’t actually lend you any money if you haven’t taken out home insurance. Unless you buy the house outright, then the house isn’t fully yours and so your mortgage lenders will need to know their property is rightly protected.

Home insurance can be confusing, but the most basic thing you need to know is the two types of insurance you can take out (this can all depend on your circumstance.)

Buildings insurance is generally for people who own their home, this can include landlords too. This type of insurance looks to cover the building as a whole and any damage that may be caused, whether it be from flooding, a fire or vandalism.

As a homeowner, contents and buildings insurance should be taken out together.

Contents insurance can be taken out alone, but this is usually for people renting rather than people who own a property. As the building doesn’t belong to the tenants, it is down to the landlord to purchase buildings insurance. This insurance can protect any possession that is not permanently fixed to the house.

There are different levels of cover that you are able to take out depending on what you own. Before taking out a policy, it is a good idea to check exactly what you are covered for and make sure it suits what you have and what you would like to cover.

Endsleigh allow you to choose cover from £10,000 to £60,000 because they understand that the level of contents can vary from house to house. Other companies will offer this too.

Do you have contents in your garden that you would like covered? Some insurers, cover you as standard for garden contents but other insurers may offer this separately.

For people renting, a lot of insurance companies allow you to choose smaller levels of contents insurance, which is perfect for people just starting out who may not own an awful lot.


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