Buildings and contents cover – also called home and contents insurance - is a combined package policy that provides protection for both your home and its contents. It covers the cost of rebuilding or repairing the structure of your property, including fixtures and fittings, if it is damaged or destroyed, as well as covering the monetary value of your belongings. Home insurance covers your home and contents against a range of risks such as loss or damage by theft or attempted theft, fire, flood, water leakage or subsidence. This cover protects your home and contents if the damage or loss is caused accidentally or maliciously. Note that buildings insurance is usually mandatory if you are buying you home through a mortgage lender.

Buildings and contents insurance protects both your home building and your belongings. The purchase of your home represents probably the largest financial investment you will make in your lifetime. It is, therefore, vitally important that you protect your most important asset by insuring it for the correct value. Your personal items have monetary value, so it makes sense to insure your home and contents and protect these items in the event of loss or damage.

The cost of your home insurance premium will differ depending on the value of your property and your contents. Each year, you should review the amount for which you have insured your building and contents. In addition, if home improvements have been carried out, such as the building of an extension or the conversion of the attic, or if you have purchased additional contents, the sums insured should be increased to reflect this. The Society of Chartered Surveyors Ireland’s Rebuild Calculator is a handy tool that can help you calculate the rebuild cost of your home, giving you peace of mind.