What Insurances Do You Need When Buying a House in the UK?

You have finally decided to purchase a new property and to own your new home. First of all, congratulations! This is a huge step for you since a house is probably the most expensive item that you’re going to buy in your lifetime. This is why you need to make sure that everything checks out and that you have all of your needed paperwork, as well as your needed permits before you begin the move-in process. If you plan on building it from scratch or if you want to purchase something off the market, keep on reading. Here is all that you should know when it comes to its insurance options, especially if you need a mortgage.

What type of insurances are there, and which will you need?

When it comes to your home & your property different companies will have their own unique deals to offer. The most common & popular solutions for your home are:

  • Home insurance
  • Contents
  • Landlord
  • Unoccupied property
  • Tenants insurance
  • Buy to let insurance
  • Holiday home
  • Park home
  • Guesthouse
  • Care home
  • Commercial property

Which ones do we recommend going for?

We will focus on five of them in this article. Here are your options:

1. Home insurance – building/flat coverage: it is used to cover the rebuild costs if something happens to your home.
2. Life insurance – in case you die before you pay off your home or your mortgage.
3. Landlord – this makes sure you never miss out on a month’s rent if the tenant can’t or won’t pay.
4. Critical illness cover – used to cover the cost of paying off your mortgage if you get diagnosed with a life-changing condition.
5. Income protection – covers your payments if you are unable to perform and work due to pregnancy, sickness & any sudden injuries, or surgeries.

Top 5 options to go for + why

1. Home: Building & contents insurance


First of all, you should know that these two are different kinds of. However, most companies offer them together and within a bundle. If you plan on living in a flat or a building, you should consider this insurance.

For instance, if you are a freeholder with a mortgage your lender will insist that you have this. If you are scared of fire outbreaks, floods, or natural disasters it is good to think about this as your primary go-to kind.

You should shop around and ask around to get the best deal for your needed property. Do not accept the building’s plan, and rather get a bit of professional help.

2. Life insurance


Life insurance is the most common & often go-to purchase by people across the globe. If you are looking for the right insurance that you can use in case of risky or illegal actions, add this one to the cart. If anything was to happen in your home or flat, you will be fully ready for it. Most people who have kids know that this step is important.

You should consider one of the following options:

A) Level term life insurance – it is used to pay out a fixed amount that you choose beforehand in case you die.
B) Decreasing term life insurance – this is an affordable solution since your final payout will decrease as time goes on.

3. Landlord


If you can’t afford your new home just yet, you can always rent it out. Landlord insurances are used mostly by students and workers who want something simple, fast & efficient when it comes to their home balance. With the right rent guarantee, you can be sure that you will get the month’s rent in time. There are also additional coverage options that you can get in case of an injury incident at your current residency. Landlord options usually work the best when combined with our previously recommended buildings & contents options.

4. Critical illness cover


This type of insurance pays out a specific sum of money in case you get diagnosed with some serious condition, but you still haven’t paid out your house fully or entirely. In case you suffer from a stroke, heart attack, or cancer, this policy will cover it all. Your three options in this case are:

  • Increasing cover
  • Level cover
  • Decreasing cover

However, some insurers let you add critical illness cover to a life insurance policy when you apply, and this deal is a lot better since it is within a bundle, which makes it cheaper to go for.

5. Your income protection

If you become ill all of a sudden or if you find yourself in a car accident, or incident of any kind, you will want to protect yourself, your home, and your income. With this policy, you will pay for your home or your flat until you can go back to work again. This protection helps with a certain amount of coverage (usually 65% of your paycheck and of your rent/mortgage). Most of these policies usually last for a year and they are also quite popular among pregnant women who want to spend most of their days with their newborns.

PS: There is also the MPI option.

It stands for mortgage payment insurance. You should compare different options & prices, and do not stick with the first one that your lender offers you. Secure your mortgage and feel optimistic about your future moves.

Where to get the right insurance in the UK?

If you’re looking for the best option, as well as someone that has it all, you should check out Not only that they have the best reviews & prices on different property insurances, but they also offer business & office kinds, motoring & lifestyle options! They will bring you independent and unbiased comparison sites & they will help you make your final decision with all of the listed and registered FCA companies. Compare their top choices & competitors, and find someone who you can trust!

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