What insurance do I need to buy a house?
Buying a house is a big decision and is a significant investment, so it’s important to have the right insurance policy in place to protect your valuable asset.
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.