Care Financials

Building Insurance

Building Insurance Cover

Building insurance is a policy formulated to bestow your financial aid if you face any damage to your home, for instance, damages to the building structure, flooring, walls, windows or ceiling/roof. Building insurance may also cover fixtures and fitting damages such as kitchen and bathroom fittings.

The insurance may also accommodate communal areas (stairs and hallways) in the case of apartment policies. If you are a landlord, you must have building insurance in case of any damages or rehabilitation. It’s not integral to have a building cover, but most of the time, it is a component of your mortgage plan. 

In case you are a tenant, you will not need building insurance as this will be your landlord’s duty to supervise the correct cover to be put in place. But it would be wise for a tenant to have contents insurance, a policy designed to protect one’s belongings. It is possible to acquire both buildings and contents insurance individually and in a ‘joint home insurance policy. ‘ 

Our expert financial brokers can cater to a wide range of circumstances, helping you with any queries you may have along the way. Call us today and fill out your insurance form so that we can help you secure the well-being of your home. 

Benefits of Building Insurance

At Care Financial Services, we realise the financial distress of damaged property. Repair costs can be expensive for minor defects you may not be ready for. Not to mention a damaged property also loses its overall market value. That such times building insurance may come in useful.

Once you have bought a building insurance scheme for yourself, you can either pay for it all at once or through a monthly premium plan. This cover will safeguard your property from various risks, deteriorations or restorations. If you face damage and make a claim, your insurer will either provide you with the finance desired to deal with the harm or hire a corporation to help you through the procedure. If you have a mortgage, there are high possibilities that you will need a building inductance policy as well; this is because insurance is vital for most lenders as it acts as security or protection of the property.

Building insurance can be organised by

  • A landlord who is leasing their estate.
  • If you own a flat, you must ensure that the building of flats is insured, which can be jointly done by all owners. 

Landlords will need ‘landlord building insurance’, while if you own your own home, you will require ‘self-business insurance’. 

There are two types of building insurance

  1. Sum Insured
    Sum insured is a cover measured on the cost of rebuilding your house from the ground up; this may vary from the standard market value of the property as you may face expenses such as professional fees may also be incorporated. The expense of rebuilding can also increase over time, so it is always an excellent notion to reexamine your policy whenever it is renewed. 
  1. Bedroom Rated
    Bedroom-rated building insurance is based on the sum of bedrooms you have, which means the cost of rebuilding will depend on the number of rooms you have in your home. This cover will provide a unique level of compensation, and there is no need for you to calculate the rebuilding expense of your property.

Nevertheless, it is always advisable to discuss your case with a professional and evaluate your choices; in case you end up over-insuring or paying more than is required.

Building insurance covers numerous damages such as

  • Damages caused by climate conditions such as storms, floods or lightning
  • Pipes that have exploded or are frozen.
  • Any harm caused by fire 
  • Robberies or vandalism
  • The destruction induced by traffic that may have destroyed your property 
  • Subsidence- this is when the soil underneath your residence shifts, which results in the foundation of your home sinking. 

However, it is crucial to remember that building insurance doesn’t insure all damages. The incidents not incorporated in the insurance plan are known as ‘exclusions’. Exclusions may differ from policy to policy; it is always good to check the terms of your insurance with your insurer beforehand. 

Most building insurance policies don’t include

  • General defects such as gutter leakages. 
  • Damages caused by the absence of upkeep, such as a ceiling leak because of not ft fixing a roof tile on time 
  • The breakage of home appliances such as fridges and boilers 
  • Repairs that cost more than the limit in your insurance agreement. 
  • Intentional damage caused by you or your family. 

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How Can Care Financial Services Help?

Have you ever come home to unexpected damages in your home? Has it cost you more than you anticipated? Where you ready for a sudden bill this month? At Care Financial Services, we understand the complications that come with startling expenses that can’t be ignored, such as household repairs. This problem has a simple solution known as building insurance. With Care Financial Services, you do not need to worry about anything; our specialists are educated with the laws and the latest insurance policy to find you the most suitable insurance. We will first gather some information from you, such as financial statistics and your mortgage details. 
This data gives us perspicuity to your circumstances to help us find you an outstanding insurance deal. So let us share your financial burden and make the process much more straightforward. 

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.


Building insurance may become a requirement if you have a mortgage, but it does not need to be acquired from your mortgage lender. You can buy a building protection policy by getting a quotation from building communities, banks or insurance institutions. You can get this cover as a single scheme or joint content and build an insurance policy. You must access different policies and quotes before you make your final pick. 

When applying for a building insurance cover, you may face several questions about your insurance costs. Your insurer will need some evidence about your estate to give you a final quote on what expenses you may face. To receive a valid quote from your insurer, you will need the following information: 

  • When your estate was constructed 
  • Was standard material used in the construction of your building 
  • What percentage of the roof of the house is flat
  • Is the house located in a flood risk area 
  • Are there any tall trees located near your property
  • Has your home faced subsidence in the past
  • Is your property listed 
  • Does your home consist of any safety measures such as alarms and CCTVs 

Your insurer may want the above information, or maybe more, so it would be beneficial if you were prepared beforehand. 

As discussed, building insurance safeguards the actual building and its structure, not the belonging inside. In contrast, home insurance is usually a joint plan that includes building and content policies. 

A ‘building insurance excess’ is the excess finance that you will have to compensate for your claim. You are constantly allowed to pick how much excess you want to pay, which would lead to you paying less premium. You will have to pay more for each claim if you pick an increased excess amount. In most cases, less costly insurance plans have a more excellent excess ratio. 

Once you have your building insurance plan, your insurer may want to know how much it would cost to rebuild your property if destroyed. This cost is known as the ‘rebuilding cost’, which includes:

  • The structure of your home 
  • List of permanent fixtures and fittings 
  • The Material needed
  • The amount of labour that you will require 

You can use the ‘building cost information service’ (BCIS) calculator to estimate your rebuilding costs. 


The content on this page is based on our understanding and knowledge at the time of publication. It may be subject to change and may not be applicable to your circumstances, so should not be relied upon. Please contact us if you require further information about the content included on this page.

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