Buildings Insurance Guide
What does buildings insurance cover?
Buildings insurance covers the main structure of your home. Generally cover is provided for subsidence, fire, theft or damage from extreme weather e.g. flooding or high winds.
Buildings insurance also covers fixtures and fittings e.g. such as taps, baths & showers etc. A simple way to get a rough idea of what's considered a fixture or fitting is to ask your self. Would I take this with me if i moved?
How are premiums worked out?
It varies from insurer to insurer. Some will work out your premium based on the number of bedrooms (known as bedroom rated) and others work it out based on the cost to rebuild or the sum of money you are insuring (known as sum insured rated). Comparing premiums from lots of different companies will help you get the best value for money.
Other factors can include:
- Your age
- The age of your home - modern homes tend to be cheaper than older buildings
- How your building is made - thatched roofs are higher risk for example
- Location of your home e.g. crime rate, subsidence or flood risk