A Quick Guide to Home Insurance

As the saying goes, “home is where the heart is,” but it’s also where most of your most prized possessions, comforts, and memories are kept. The strongest security measures in the world won’t prevent every possible threat to your property.

There is often no legal requirement for you to have home insurance, although many mortgage lenders want you to at least have buildings insurance.

However, having home and buildings insurance could be one of the best decisions you ever make. Keep reading to learn more.

What is home insurance?

Home insurance provides financial protection in the event that something happens to your property or belongings.

You may be covered for things like theft, fire, and accidental damage, depending on your policy. It can cover the cost of replacing things, or repairing them if they are damaged.

The difference between content and building insurance

Home insurance is frequently divided into two parts: buildings insurance, which covers the structure of your home, and content insurance, which covers your personal possessions on your property.

What is covered varies by policy, so when browsing policies, consider exactly what coverage you require.

How much home insurance do you need?

“How much home insurance do I need?” you may be wondering. or “How much home insurance should I get?” The answer is highly dependent on your situation and the property in which you live.

If you are a tenant in a rental property, for example, you may only require contents insurance. This is due to the fact that your landlord should be responsible for covering the building. But it’s up to you if you want your possessions to be protected and safe.

But if you own a home, you should protect it with both a building and contents policy.

Homeowners who want to get a mortgage loan typically must provide proof of building insurance before the lender will lend the money to the homeowner.

Buildings insurance is recommended in any case, as fixing structural damage can rack up significant costs.

How much is home insurance?

“How much does home insurance cost?” is a frequently asked question. The truth is that it varies. 

It all depends on the type of property, the value of the property, how comprehensive the insurance policy is, and even things like the type of locks can affect the price of a policy. 

However, if you require both buildings and contents insurance, a combined policy may be less expensive than two separate policies.

Here are some quick tips to help you save money on your home insurance:

  • Boost your security
  • Purchase both building and contents insurance 
  • Pay annually
  • Keep an eye out for special offers
  • Check whether your bank already covers you or has a personalised offer

Final thoughts

Here at Sett Mortgages, we know that understanding property terms can be difficult and stressful. 

Along with helping you in obtaining a mortgage, we are experts in various types of insurance you may require for your home – contact us today to see how we can support you with your home insurance.


  • Elliott Benson

    Meet Elliott, a seasoned mortgage broker with over nine years of experience in property, and the founder of Sett Mortgages. With a background as a sales negotiator and mortgage services manager, he is a trusted professional with extensive knowledge in all things mortgages. Elliott's empathetic approach and clear communication style make him an approachable expert, decoding the complexities of mortgages for clients from diverse backgrounds. He stays up-to-date with the latest trends and regulations, offering cutting-edge solutions tailored to clients' needs. Committed to their financial well-being, he guides them through the mortgage process, ensuring countless successful and satisfied clients. Elliott's passion extends beyond his practice; he's a prolific writer, sharing his knowledge and insights in industry publications and blogs. His mission is to empower others with the information they need to make sound financial decisions.

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