Homeowners Insurance Policies in the UK Homeowners insurance policies are often overlooked by people looking to cut costs and save themselves some money. In fact, around a quarter of UK households are not protected by any form of homeowners insurance. That is despite the fact that over 1 in 3 of us will get burgled at some point in our lives. Not to mention the damage that fire, storms, flooding and other catastrophes can cause. Around six million households are throwing themselves open to severe financial loss in the event of burglary or some other nasty occurrence.
Homeowner insurance provides varying levels of cover against such unhappy events.
There are two basic types of homeowner insurance that it is advisable to take out to protect your property. Buildings cover This protects the basic structure of your property, such as the walls, roof and foundations. Contents cover This protects your belongings and possessions that are not part of the fabric of your house. You do not have to be a homeowner to take out this type of cover. If you are renting, it is wise to have this sort of policy.