Why is home insurance needed?

As our homes are the most important asset we are ever going to own, it is imperative adequate home insurance is taken out for your property. You will never know when you will need to claim under your home insurance so it is best to make sure you are covered properly.

Statistics show 1 in 4 people in the UK will be burgled during their lifetime but still choose not to have protection. Unforeseen circumstances such as floods and fire may damage your possessions and by not having the correct insurance cover you risk losing out financially.

There are two types of home insurance; buildings insurance and contents insurance.

Mortgage lenders insist buildings insurance is in place when you commit to buying a property.  This will offer financial help in the event your house is damaged or from events which cannot be repaired.

Contents insurance is not usually a mandatory requirement when taking out a mortgage but protecting your personal belongings in the event of minor or major damage is a sensible option.

Remember, there are many home insurance providers out there and looking for the best cover for your house is important because after all it's your possessions and looking after them should be paramount.