Home insurance provides financial protection for your property and its contents in case of events like fire, theft, flooding, storms, or accidental damage. It usually includes two types of cover: Buildings Insurance (structure) and Contents Insurance (belongings).
Buildings Insurance covers the physical structure of your home — walls, roof, floors, windows, fitted kitchen, bathroom, etc.
Contents Insurance covers personal belongings inside your home — such as furniture, appliances, electronics, clothes, and valuables.
No, home insurance is not legally required in the UK. However, most mortgage lenders require buildings insurance as a condition of the loan to protect their investment. Contents insurance is optional but highly recommended.
A typical policy covers:
Fire, smoke, and explosion
Theft and vandalism
Flood, storm, and water damage
Subsidence and structural damage
Burst pipes and escape of water
Accidental damage (optional add-on)
You should insure your home for its rebuild cost, not market value. For contents, estimate the total replacement cost of everything inside your home. At Next Step Insurance, we help guide you through this during the quote process.