Buildings and contents insurance protects you from events that damage your home or belongings. If you have a mortgage your lender will typically insist on a suitable buildings insurance policy. For those in rental properties, you only need to cover your belongings as the building should be covered by your landlord.
Buildings insurance covers the cost of repairing any damage to the structure of your property and may even provide alternative accommodation in the event your property becomes uninhabitable.
Contents insurance protects your personal items in the home if they are damaged or stolen, this includes furniture, appliances, possessions and jewellery. It gives you peace of mind that if you lost your home you could replace essential items.