insurance

Home insurance: buildings, contents, and exclusions

Insurance is a transfer of selected risks, not a maintenance budget. The price only makes sense alongside the cover, excess, exclusions, and information used to calculate it.

Separate buildings and contents

Buildings cover relates to the structure and permanent fixtures. Contents cover relates to belongings. A homeowner may need both, while a renter commonly needs contents cover rather than cover for the building itself.

Check the assumptions

Review the rebuild basis, security details, occupancy, excesses, and exclusions. Do not use a sale price as a direct substitute for a rebuilding-cost estimate. Keep a dated record of the policy and any changes to the home.

Treat the premium as time-sensitive

Premiums and policy terms can change at renewal. Compare like-for-like cover and record the quote date; a lower price with materially different exclusions is not the same product.

For non-insurance charges that can change with a property, see how council tax is structured.