MyFinances.co.uk
News feeds Free newsletter

All the latest personal finance news - helping you make the most of your money

Insurance glossary

Buildings insurance

Buildings insurance is a policy taken out by a homeowner to cover the cost of rebuilding or repairing their property in the event that it is damaged.

Mortgage providers generally require borrowers to have buildings insurance to take out a home loan.

Buildings insurance typically protects against fire, flood, subsidence, leaks, and storm damage.

Policies can also be extended to include the cost of alternative accommodation while repairs are being carried out.

Buildings insurance pays for the cost of rebuilding the property, in exchange for a monthly fee.

The Association of British Insurers has devised a calculator which enables homeowners to work out how much cover they will need should their house be rebuilt from scratch.

Association of British Insurers house rebuilding costs calculator.

Related articles 


Disclaimer:
myfinances.co.uk is not authorised to give advice under the Financial Services and Markets Act 2000.

Terms:
By using this site, you are deemed to have accepted our terms of use.

myfinances poll 

myfinances.co.uk is running a poll to get your thoughts on stamp duty and its possible suspension to boost the property market.