Buildings insurance is compulsory if you are planning on buying you home through a mortgage lender. In general, buildings insurance is a condition of the mortgage and must be enough to cover the outstanding mortgage. If you don’t have a mortgage but own a property it is advisable to have home insurance as it will protect your property against damage or loss.

Although contents insurance is not compulsory to buy a house, you might want to consider it so as to protect your valuable items against loss or damage.