If you own your own home, you’ll need to have buildings cover just in case your home is damaged and needs a repair.
This type of cover is obligatory when you buy your home and take out a mortgage, you need to have it before the funds are released for your mortgage.
It covers damage to your property up to the cost of rebuilding it completely. You can also include accidental damage which will cover you for the damage which you yourself might accidentally inflict upon your property.
All of your most treasured possessions are likely to be situated in your home, along with all of the practical goods you use for day to day living.
Contents insurance will protect these items inside the home providing replacements or cash for example, in the event of a burglary, flood or fire.
Accidental damage cover will protect them even if you break them yourself!