THERE are two main types of household insurance - buildings and contents. Buildings insurance covers the structure of your building in the event of damage eg storm, flood, fire. It often covers 'outbuildings' as well, like sheds or greenhouses, although you should check the policy carefully. While you are not legally required to have buildings insurance, most lenders make it a condition of your mortgage.

Contents insurance covers your possessions in the home like furniture, clothes and ornaments. Again you are not required to have it but remember é you spend a lot over the years on the contents of your home, and insuring them will mean you could replace them if you were burgled or had a fire or flood.

Policies often include extra cover like garden equipment, frozen food and money. If you have something particularly valuable, you should specify it separately as a specified item. This usually applies to things like jewellery, antiques and electronic equipment. You can buy them together as one policy, or separately from the same or two different providers. It is worth checking both routes to see what makes sense for you in terms of cost and cover offered. Tweet