Types of Home Insurance Policies for Homes


Whether you are purchasing your first home insurance policy or you are upgrading your policy, knowing which insurance polices for homes to choose is essential. Your house is your most valuable possession that is why quality home insurance is a priority. It protects against the structure of your home, the contents inside against any potential problems such as flood, fire, theft, or even extreme weather. There are many different types of policies available to you, these include buildings insurance, contents insurance, buildings and contents, and personal liability.

Buildings Insurance

Buildings insurance covers and insures the structure of your property from any damage to the building. This generally includes windows, roof, walls, doors, tiles, and much more. Policies can vary but you are generally covered for the costs of repairs and rebuilding of the home if it becomes damaged or destroyed by any of the following reasons flooding, lightning, storms, explosions, robbery, and much more.

Excluded from the policy:

  • Wear and tear of the structure
  • Acts of terrorism
  • Flooding in high risk areas
  • Excess amount must be paid when making a claim

Contents Insurance

Contents cover protects and insures the contents or belongings in the home. This policy gives protection against damage or loss caused by any of the following reasons, flooding, fire, theft, storm, leaks, and much more. It is recommended for high valued items in the home such as jewellery, antiques, or electronics that they are insured individually. This type of cover will give you peace of mind knowing your belongings are protected if a potential accident occurred.

Excluded from the policy:

  • Motor accessories and vehicles
  • Wear and tear damage
  • Any damage or loss that may occur in the home while it is vacant for a period of time, generally more than 30 days
  • Theft of money and valuables if the property was not secured properly
  • Bills of Documents, coins, stamps, manuscripts, and much more

Buildings and Contents Cover

Buildings and contents cover policy combined can often work out cheaper than having the two separate policies. You will receive a better deal on your premium with the two policies combined together.

Personal Liability Insurance

Liability is an insurance policy that protects you in the event that a visitor to your property may have an accident or their belongings become damaged while present on your property. The policy will cover expenses, fees, and the costs that you could be liable to pay in certain circumstances.

Optional or other home insurance policies

  • Earthquake insurance
  • Flooding insurance
  • Water backup of sewer
  • Other structure
  • Medical payments cover

Tenants Insurance

If you rent a property and you are a tenant, you should consider taking out a contents insurance policy to protect the belongings that you have present in the property. The landlords home insurance will not cover your belongings if they are stolen or become damaged. Many insurance companies offer a tenant insurance policy which could be very useful if you are staying in the property in the long term.