What is buildings insurance?
This is the insurance cover that you take out to cover the structural parts of your home. Your buildings will generally be the things that you would leave behind if you were to move home. This can include things such as walls, roof, floors, ceilings plus outbuildings and garages.
At CoverBuilder we provide specialist home insurance that can be purchased as building only, contents only or a combination of buildings and contents.
Benefits of a CoverBuilder buildings policy include:
- Buildings cover up to £1.5million
- Extended Accidental Damage cover available
- Flexible excess options
- Ability to pay monthly or annually
- Legal Cover included as standard
What does your building insurance cover?
Buildings insurance will cover the standard perils that you would expect and that can damage your home. This includes:
- Flooding, fire and storms
- Structural damage caused by subsidence and fallen trees
- Water damage to your house caused by burst pipes
- Damage caused to buildings or doors during a break in.
- Accidental damage, in case you put your foot through the attic (this is an optional extra)
You should select a suitable rebuild cost to insure your home for, to ensure you are fully protected. This is the amount that it would cost to completely rebuild your house if it was destroyed and not the market value that it would be sold for (because market value takes into account the value of the land on which the building sits). If you are not sure of the rebuild costs of your property you could ask local surveyor for help. If this is not possible then our CoverBuilder quote system has a built in rebuild calculator to help you calculate your rebuild cost.
Do you have to have building insurance?
If you take out a mortgage to buy a home, your mortgage provider will usually require you to have a buildings insurance policy
in place. This means that the loan they have provided to you will be protected in the event of the property being damaged in some way.
If you are a tenant in a property then you will not need buildings insurance as this will be your landlord’s responsibility – you can only insure a property that you are the legal owner of. Equally, if you own a leasehold property it is generally the responsibility of the freeholder to insure the buildings, though it is worth checking the terms of your individual lease
Although you don’t need buildings insurance for your home if you are not the legal owner, you might want to consider taking out a contents insurance policy to protect your belongings.
Building Accidental Damage Cover
Accidental Damage cover can also be taken out to protect your buildings. This would cover you for situations such as a football being kicked through your living room window or accidentally putting your foot through the ceiling when you’re up in the attic. However, issues that are deemed to be caused through general wear and tear will not be covered – it has to be damage that can be confirmed as having happened in one insured incident.
Accidental Damage cover is not included as standard in home insurance policies but can be selected as an extra element of your CoverBuilder Buildings policy.
House Insurance Cost
Most people are generally focused on finding the cheapest deal they can and can often overlook the cover that they actually get for the price they are paying. We recommend asking some simple questions when searching for House Insurance. Sometimes focusing solely on the house insurance cost is not the best method for finding the best deal, try using a house insurance calculator. This is a simple tool to add up each of the areas of your home and contents you want to cover.
- Is this right insurance policy for me?
- Does it meet my specific needs?
- Would I be able to claim for the things I care about or can’t afford to buy and replace myself?