Buildings insurance covers the cost of repairing damage to the structure of your property.
This includes the walls, windows and roof as well as permanent fixtures and fittings such as baths, toilets and fitted kitchens. Generally buildings insurance covers the cost of loss or damage caused by:
Depending on the type of policy you choose, you may also be covered for structures around your home like garages, outside walls and driveways.
At Advantage FS we’re always helping our clients find suitable cover. We offer a limited advice service, providing high quality insurance products from LV= to our clients. If LV= cannot assist for any reason, we can refer you to a specialist home insurance brokerage.
You won’t need buildings insurance if you’re renting a property as it will be up to your landlord to ensure they have a policy. If you are a tenant and would like to insure your belongings you may want to consider taking out a contents insurance policy.
Usually, if you own a leasehold flat, the building should be insured by your landlord who owns the freehold. Sometimes leaseholders in the same building group together to buy a share of the freehold. While this gives more control over the property it also mean that they may have to arrange buildings cover as well. This can be done individually or a cheaper option could be to take out a ‘block policy’ which covers them all.
Exclusions
Exclusions from buildings insurance policies can vary depending on your provider and level of cover. Common exclusions on buildings insurance policies include:
- General wear and tear Damage caused by neglecting your property
- Bad workmanship
- Storm damage to gates, fences and plants
- Frost damage to outside pipes and brickwork
- Damage caused by insects, birds or other pests
- Subsidence
- Vehicle or aircraft collisions
Most insurers will cover your home on the condition that it will not be left unattended for more than 30 consecutive days. If your home will be left unoccupied for an extended period of time, be sure to let your home insurance provider know as there may be some restrictions to your cover.