You might be offered buildings insurance when you take out your mortgage, but you don't have to take what's on offer. Use the key policy information to shop around and get the best deal for you.
If you purchase a leasehold property (such as a flat in a block of flats) the freeholder may have arranged buildings insurance for the whole block, in which case you may not need your own buildings policy.
You need to tell your insurer if you extend your property, for example with a loft conversion or conservatory. Your belongings are not covered – these need to be covered separately with contents insurance – see Contents insurance.
If not already covered by your contents insurance, you may want to consider travel insurance for loss or damage to your personal belongings whilst travelling. For more information see Travel insurance.
Most policies have a standard excess charge which means you agree to pay the first part of any claim, for example the first £50 or £100. If you agree to pay a higher excess you might get a cheaper policy.
Always compare what’s covered by a policy, not just the price – the key policy information will help you do this. Some might be cheaper than others, but they may not offer the same level of protection.
Bear in mind that your premiums may increase the following year, or the insurance company may refuse to cover you for the same risk if it happens more than twice, for example.
Landlords insurance for buildings and contents includes as standard:
Should the worst happen, financial stress for you or your family really is the last thing you need. We will discuss your own personal details and circumstances with you in detail and provide advice and a solution that is entirely tailored to you. In our opinion, you should never buy life insurance off the shelf, rather get advice and ensure that any life insurance or critical illness policy meets every need you have. So do call us to discuss further.
In the meantime, you will find definitions and a number of statistics on these pages that will help inform you. Our life insurance (or assurance) range