If you own your home and have a mortgage, then your lender will usually insist you have buildings insurance in place for the length of your mortgage. And although there’s no legal requirement to have buildings insurance if you don’t have a mortgage, consider the amount you might need to pay out to repair your home if you don’t have cover in place. If you’re renting, then buildings insurance is usually the responsibility of your landlord.
You’re not legally obliged to have contents insurance, but if you own or rent your home it’s a good idea in case something unexpected happens – for example, you have a fire or your home is burgled.
Landlord insurance can include buildings insurance to cover a property that you own and rent out. You can also take out contents insurance to cover your belongings if you rent out a furnished property.
Holiday home insurance
Just like home insurance for a regular home, holiday home insurance is split into buildings and contents insurance. However, it could be more expensive as insurance providers often consider holiday homes to be a greater risk to insure as they’re often left unoccupied for long periods, and problems, such as a burst pipe, might go undetected, leading to considerable damage.