Buildings Insurance

Buildings Insurance

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Welcome to our comprehensive guide to Buildings cover – a vital component of safeguarding your property from unforeseen damage or destruction. Whether you’re a homeowner or a landlord, understanding the importance of buildings insurance is crucial. In this article, we’ll dive into the key aspects of buildings cover, including what it covers, who needs it, and how to determine the right coverage.

What is Buildings Cover?

Building insurance covers the costs associated with repairing damage to the structure of your property. It extends beyond just the main building; it also includes garages, outbuildings, as well as the replacement of essential items like pipes, cables, and drains. This comprehensive coverage ensures that your property remains secure in the face of unexpected events.

Your insurance should cover the full cost of rebuilding your property. This includes not only the construction expenses but also additional costs like demolition, site clearance, and architects’ fees. Building insurance typically covers loss or damage caused by:

  • Fire, explosion, storms, floods, earthquakes
  • Theft, attempted theft, and vandalism
  • Frozen and burst pipes
  • Fallen trees, lampposts, aerials, or satellite dishes
  • Subsidence
  • Vehicle or aircraft collisions

How to Insure your Buildings Correctly

When it comes to insuring commercial properties, one fundamental principle stands out: buildings should always be insured for the amount it would cost to rebuild them. However, a startling fact has come to light – fewer than one in ten commercial properties in the UK are covered correctly, as revealed by

In the realm of building insurance, two critical scenarios can unfold: over-insurance and underinsurance. Let’s break down their implications:

  1. Over-Insured: If your property is over-insured, you’re probably paying more than you should for your buildings insurance. This can strain your financial resources, making it imperative to assess and adjust your coverage accurately.
  2. Underinsured: If your property is under-insured, underinsurance can lead to severe repercussions. In the event of a claim, you may face a reduced payout, and the implications are significant. Insurance claims can be diminished by hundreds of thousands of pounds when the dreaded “average clause” is applied due to under-insurance.

For further information on calculating the value of your building please see our Rebuild Cost Assessment page.

Consistently Delivering Excellent Service

Our customers are at the forefront of our business and we are committed to providing the highest level of service possible. For the last three years we have achieved the Feefo Gold Trusted Service Award, with a service rating of at least 4.9/5, meaning that this year we have gained Platinum status.

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