What does Building Insurance cover?
Building Insurance saves having to pay out for damage from:
● Fire from an electrical fault, bad weather or simple human error.
● Flood including damage from leaking pipes, taps or bad weather.
● Frost including damage caused by frozen pipes.
● Theft or attempted break-ins.
● Accidental breakage with some policies.
Some Building Insurance policies extend to cover your garden and any outbuildings. Every policy differs, so do check the small print beforehand.
Typical things Building Insurance includes:
● Alternative accommodation while your home is being fixed.
● Fixing leaking pipes from water or heating systems.
● Addressing subsidence or landslides.
● Damage caused by falling trees on your property.
● Replacements or repairs to broken windows – either through
accident or theft and vandalism.
Building Insurance exclusions:
It’s unlikely that your provider will provide cover for any of the following:
● Wear and tear.
● Damage to outside pipes from frost.
● Storm damage to your garden gates, fences and plants.
● Deliberate damage caused by you or anyone living in your home.
● Damage caused by animals – including pets, birds and insects.
It’s possible to invalidate your policy by vacating the property for longer than 60 days or renting out your home without seeking your insurer’s permission. It’s a good idea to check with your provider beforehand if you’re planning on taking a long holiday or letting your home out while you’re away.
Should I take out Building Insurance?
Yes. Every mortgage provider insists that you are covered by Building Insurance before completing on your new home.*
*Some properties may come with buildings insurance built in and paid for through a service charge. Speak to an MMD adviser to see if you are covered.