INSURANCE GUIDES
Buildings & Contents
Insurance - GoMortgage®
Protecting your home and everything in it – the right way.
Getting a mortgage is one major step. Making sure you’re properly protected is the next. At GoMortgage we believe when you buy a home you shouldn’t just think “I’ve got a mortgage”
– you should think “I’m safe if the worst happens.” That means premiums that are fair, cover that’s clear, and no surprises.
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Insurance Guides
What Are Buildings & Contents Insurance?
Buildings insurance covers the physical structure of your property. Think walls, roof, floors, fixed installations (such as fitted kitchens or bathrooms), garages or outbuildings in many cases.
Contents insurance covers the items inside your home—furniture, electronics, clothes, personal possessions. Items that are not part of the permanent structure.
Often these are bundled together as a combined policy (“home insurance” / “buildings & contents”), but it’s vital you understand what’s covered, what’s not, and where the gaps might be.
Why it matters in your mortgage world
- Most mortgage lenders require you to hold buildings insurance (at least) from exchange of contracts onward – because your property is their security.
- Contents cover may not always be required by the lender but is highly Without it you risk losing everything you own inside the home, or facing huge replacement costs.
- If your property suffers major damage—fire, flood, subsidence, burst pipes—the cost of rebuilding or repair could run into tens/hundreds of thousands without buildings cover.
- With combined cover you get simplicity and often cost-efficiencies.
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Knowing exactly what lenders see is the first step. Checkmyfile lets you view your full credit picture across all three UK agencies in one place, helping you spot issues, track progress, and avoid surprises before you apply.
Key features to understand
Rebuild value vs market value
When insuring the building, the sum insured should reflect the cost to rebuild, not necessarily the market value. Under-insuring your building could mean your claim is paid out only proportionally (called “average clause”) which could leave you out of pocket.
What is included / excluded
- Buildings cover normally includes damage by fire, storm, flood, subsidence (depending on the policy) and sometimes external structures (garages, drives, fences) though you should check.
- Contents cover normally includes theft, damage, loss of household But many standard policies exclude accidental damage, valuables over a certain limit, or items outside the home unless specified.
What might trip you up
- Renovations: If you alter or extend your property significantly, previous cover may not be adequate unless you update your insurer.
- Leaving the property vacant: Some policies reduce cover or exclude damage if your home is unoccupied for a certain period.
- Under-insurance: Insuring for too low a rebuild value or too low contents sum could mean you don’t get full payout when claim occurs.
- Mixed property types: Flats, new builds, leasehold properties often have different requirements or higher cost.
How GoMortgage helps you get this right
- We’ll check your existing cover (if you have any) and assess whether your building sum insured is correct and your contents cover is sufficient.
- We’ll explain required vs recommended cover: what your lender makes mandatory and what you should add for peace of mind.
- We’ll compare policies across multiple insurers: best cover for your property type, location, risk (flood, subsidence) and your deposit/mortgage situation.
- We’ll integrate insurance at the right stage of your mortgage process—so you’re covered from exchange, not left scrambling.
- We’ll help you review annually: life changes, property changes, value changes – your cover should too.
Next steps
- Gather your current property details: address, type of property, number of bedrooms, build year, existence of outbuildings/garage.
- Get your current policy documents (if you have them) and check: sum insured for building, sum insured for contents, any exclusions, what excess you have.
- We’ll assess: Do you have the right type of cover? Is the building sum insured accurate for rebuild? Is contents cover realistic for your possessions?
- Decide standard vs enhanced cover: Maybe you’ll choose accidental damage, higher contents cover, or specific high-value items separately.
- We’ll submit your insurance alongside your mortgage plan, confirm you’re covered for exchange/offer/completion.
- We’ll put a reminder in place to review your cover at your next mortgage review or when you remortgage/extend.
📞 Call us on 01253 935050 for a free review of your building & contents insurance – let GoMortgage make sure your home and your possessions are truly protected.
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Author: Chris Days Head of Content
Key takeaways
Do I need both buildings and contents insurance?
If you own the property and have a mortgage, buildings insurance is essential (usually required by the lender). Contents insurance is highly recommended and smart to get at the same time.
What if I rent rather than own?
If you’re a tenant, usually the landlord has buildings insurance. You’ll want your own contents insurance to protect your belongings.
Will standard cover protect me if my home floods or suffers subsidence?
Flooding and subsidence may be covered, but not always or not without special cover/extra premium. You should check your policy details carefully.
What happens if I extend or convert the loft or do major work?
You must inform your insurer. Significant changes can increase rebuild cost and risk profile; failing to update cover may invalidate claims.
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