Do I need buildings insurance if I have a mortgage?

Yes. Buildings insurance is required by virtually all mortgage lenders as a condition of your mortgage offer. It must be in place from the date of exchange of contracts. We can help you arrange suitable buildings insurance quickly and at a competitive price.

What is the difference between buildings insurance and contents insurance?

Buildings insurance covers the physical structure of your property including walls, roof, floors, fitted kitchens and bathrooms. Contents insurance covers your personal possessions inside the home such as furniture, electronics, clothing and jewellery.

Should I get combined buildings and contents insurance?

A combined buildings and contents policy is often more cost-effective and simpler to manage than two separate policies. It also avoids disputes between insurers about whether a claim relates to the building or the contents.

How much contents insurance do I need?

You should insure your contents for their full replacement value — what it would cost to replace everything new if it were all destroyed in a fire or flood. A common mistake is underinsuring. We can help you calculate the right level of cover.

Buildings & Contents Insurance | Alexander Southwell

What is Buildings & Contents Insurance?

Home Insurance Broker in Southampton

Home insurance is a form of property insurance designed to protect your home and possessions in the event of damages. You can also cover your home and its contents in the event of accidental damage.

If you take a mortgage out to purchase a property, the bank will place a mandatory notice in the offer letter that you have to insure the building. They will also ask your solicitor to check that this cover is in place at the point of exchange of contracts, which is when you are legally responsible for the property.

Buildings and contents insurance can be purchased separately or together depending on your requirements. We can help you to purchase new cover, tailor cover to your personal requirements, or see if we can reduce the cost of your current cover.

Homeowner reviewing buildings and contents insurance policy in Southampton

Buildings and contents insurance broker advising a client in Hampshire

Do You Need Buildings and Contents Insurance?

If you have a mortgage, your lender will almost certainly require you to have buildings insurance in place as a condition of your loan. Buildings insurance protects the physical structure of your property against damage caused by fire, flooding, storms, subsidence, escape of water and other listed events. Even if you own your home outright, buildings insurance protects one of your most valuable assets against potentially devastating and costly repair bills.

Contents insurance covers your personal belongings inside the home. From furniture and kitchen appliances to clothing, electronics and jewellery, replacing your possessions after a burglary, fire or flood can run into tens of thousands of pounds. Contents insurance gives you financial protection when the unexpected happens, helping you get back on your feet as quickly as possible.

Many homeowners choose a combined buildings and contents insurance policy for simplicity and cost savings. At Alexander Southwell Mortgage Services, we search a wide panel of home insurance providers to find you competitive buildings and contents insurance in Southampton, Hampshire and across the UK. Our advice is completely fee-free with no hidden charges.

Related protection advice:

We also advise on a full range of protection products. Find out more about life insurance, income protection insurance and critical illness cover insurance, or visit our main mortgage protection insurance page to learn how we can help protect everything that matters to you.

Do You Need Buildings Insurance?

If you have a mortgage, your lender will almost certainly require buildings insurance as a condition of your mortgage offer. Buildings insurance must be in place from the date of exchange of contracts - not completion - so it is important to arrange this early in the buying process. If you own your home outright, buildings insurance is not a legal requirement, but rebuilding a property from scratch following a major fire or flood can run to hundreds of thousands of pounds.

What Does Buildings Insurance Cover?

Buildings Cover

Buildings insurance typically covers the structure of your property against a range of risks. It is important to insure your property for the correct rebuild cost, not the market value, as underinsuring can result in your insurer paying only a proportion of any claim.

Structure: Walls, roof, floors, ceilings, doors and windows are covered against fire, flooding, storms, subsidence and falling trees.

Permanent fixtures: Fitted kitchens, bathrooms and other permanent fixtures are included as part of your buildings policy.

Fixed glass: Accidental damage to fixed glass such as windows and doors is typically included as standard within most buildings insurance policies.

Rebuild cost: Ensure your policy is based on the correct rebuild cost rather than the market value of your home. Rebuild costs can differ significantly from what you paid, and we can help you calculate the right figure.

Home insurance advice from Alexander Southwell Mortgage Services serving Romsey, Southampton and Hampshire

What Does Contents Insurance Cover?

Contents insurance covers the belongings inside your home against theft, loss and damage. Accidental damage cover is usually available as an optional extra and is worth considering if you have young children or valuable items. Most policies will cover:

Good to know: It is important to ensure your contents are insured for their full replacement value. Many policies also allow you to add specified items cover for high-value possessions such as jewellery, cameras or bicycles. Speak to us and we will help you get the right level of cover in place.

Our Service

How Alexander Southwell Can Help

Whole of market: We search across a wide panel of insurers to find the right level of cover at a competitive premium, explaining everything in plain English so you know exactly what you are covered for.

At every stage: Our service does not stop at completion. We are here to help you review your insurance at renewal and ensure your cover still reflects your circumstances.

Alongside your mortgage: Arranging buildings and contents insurance at the same time as your mortgage means one less thing to organise in an already busy process. We take care of it for you.

Get in touch: Call us on 03300 432428 or complete our contact form to get started. We will be happy to discuss your requirements and find the right cover for your home.

Buildings & Contents Insurance Broker

Home Insurance Broker in Southampton

Do You Need Buildings and Contents Insurance?

How Alexander Southwell Can Help

Ready to Arrange Your Home Insurance?

Speak to one of our fee-free advisers today. We will search across the market to find the right buildings and contents insurance for your home, at a competitive price.