Buildings Only Insurance
Protecting the structure of your property
Buildings insurance can cover the cost of repairing or rebuilding the structure of your property if it becomes damaged after a fire, flood or unexpected freak weather conditions.
Whether you’re a private homeowner or a landlord letting out to tenants, Arkwright can assist you in finding the right cover for your buildings and structures.Get a quote Retrieve a quote
About buildings only insurance
What is buildings insurance?
We commonly think of buildings as permanently secure structures that are able to stand strong and withstand all sorts of damage. That’s why it’s more of a shock to us when walls, roofs, floors, fences, fixtures and fittings get damaged or destroyed.
Whether caused naturally by adverse weather conditions or acts of vandalism, it can cause great distress to see a part of your property becoming damaged. On top of that, dealing with repairs can be considerably expensive, adding to your already mounting worries.
With a buildings insurance policy, the structure of your home as well as any built-in fixtures and fittings can be covered for any accidental damages. This includes fitted kitchens and bathrooms as well as built-in wardrobes and even outdoor elements like drainage pipes, garages, sheds and fences.
A good buildings insurance policy should be able to cover the cost of rebuilding your home if it should become damaged or destroyed beyond repair. Your ideal level of cover will be based on the estimated rebuild cost of your property, giving you complete peace of mind that any necessary repairs – big or small – will be handled easily.
Do I really need buildings insurance?
Depending on whether you actually own the property or not will determine if it’s necessary for you to have a buildings insurance policy.
There’s no particular legal requirement to have buildings insurance, but if you’re a private homeowner with a mortgage, your lender may insist that you have adequate buildings cover. You will typically need an insurance policy in place on the date that you exchange contracts, as you will be legally responsible for the property from that moment onwards.
If you own your property outright and don’t have a mortgage, there’s no obligation to have a buildings insurance policy in place. However, it’s important to be aware that repairing any structural damage would have to be done out of your own pocket. It’s highly advisable to take out buildings insurance to give you peace of mind and potentially save you a lot of money if the worst should happen.
For tenants simply renting their home, the responsibility falls to the landlord to have an adequate buildings insurance policy in place if anything should go wrong. While the landlord will ensure that the structure of their building is covered, this doesn’t necessarily mean that tenants don’t need to worry about home insurance. The landlord won’t be liable for any damage to their tenants’ personal belongings, so it’s highly advisable for renters to think about getting their own contents insurance.
Make sure what you’re covered for
Different insurance providers may have different terms on their policies, so it’s important to check that you know exactly what will and won’t be covered by your insurance. This will save you from getting a potentially nasty shock if you want to claim for something that your insurer may not be able to help you with.
When insurers ask about the age of the building, this helps them to determine whether it’s likely to suffer wear and tear or decay, as such damage generally won’t be covered by a typical policy. Other causes of damage that insurers tend not to cover include any DIY or poor workmanship carried out by yourself or contractors.
Any damage that is deliberately done to the property or its structure – either by you or anyone else who lives there – will usually not be covered under the terms of any buildings insurance policy. However, there are some aspects like frost damage to pipes or infestations of pests that may or may not be included. The level of cover will vary from one provide to another, so take a moment to make sure you find out exactly what is and isn’t covered by your policy.
Choose Arkwright for your specialist insurance
At Arkwright, we’re determined to find you not only the best price for your buildings insurance, but also the right cover that matches your specific needs. Through a wide-ranging panel of insurance providers, it’s our mission to source the ideal policies that suit each of our customers.
Call us on 01204 392 525 today and one of our helpful and friendly team will work with you to provide a competitive and affordable quote. You can also send us a few quick details online and somebody will get in touch as soon as possible.
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