Your home and contents are probably the biggest investments you'll ever make, so protection against risks like fire, theft and malicious damage is key to peace of mind. When looking to insure your home and possessions, some items are categorised as ‘buildings', including fitted furniture and anything that is plumbed in. Other items are treated as contents. The easiest way to make sure everything is covered is to insure both building and contents under one policy.
Insurance to cover your home. There are usually 2 types of cover: property insurance, to cover the value of your building (the 'bricks and mortar') and contents insurance, to cover the value of the things you have in your home (furniture, TV, clothes, etc).
Insurance to cover both your home and its contents (also referred to as property insurance). This is different from mortgage life insurance, which pays the outstanding balance of your mortgage in full if you die.
Home insurance comes in two forms: contents insurance and buildings insurance. The first covers furnishings, appliances and personal possessions in your home and should cover any loss or damage. The second covers the property itself: the roof, walls and so on. If a freak storm rips the tiles off your roof, buildings insurance should cover the cost of repairs.
A joint term, referring to both buildings cover and contents cover. The two policies may or may not be bought from the same insurer, but buying them together can sometimes save money or make life simpler.
Home insurance, or homeowners insurance, is an insurance policy that combines various personal insurance protections which can include losses occurring to one's home, its contents, loss of its use (additional living expenses), loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home.
