Buildings Insurance covers the physical structure of your house, such as walls, roofs, ceilings, doors, as well as permanent fixtures and fittings (kitchens, bathrooms etc.) – it may also cover damage to things such as conservatories, sheds or garages linked to or on your property.
Depending on the policy, Building Insurance provides cover against damage by things such as fire, flood, lightning, explosion, earthquake, theft or attempted theft, riots, vandalism, storms, subsidence, falling trees, moving objects (for example, a car hitting your house) or water/oil leaks.
If you have a mortgage, your lender will normally insist that your property (and their security) is protected by buildings insurance. This is to safeguard their investment in your property.
A comprehensive Buildings Insurance policy should cover the full cost of repair/rebuild in the event of the following:
- Damage to buildings – Including but not limited to storm, flood, fire, smoke, earthquake
- Alternate accommodation – In the event your property becomes inhabitable due any of the claim criteria
- Home emergency cover – To provide assistance in the event of burst pipes etc.
- Escape of water or leakage of oil – Burst pipes etc.
- Accidental damage – To provide cover against accidental breakage or damage to your home (windows, fixed units etc.)