Why Do I Need Buildings Insurance?

So you're a house owner are you? Have you ever thought of what that means? Well that mock Tudorbethan gothic pile in Elmwood Close, off Treewood Drive, off Golf Course way just behind the leisure centre next to the park belongs to you.

Well, your name is on the mortgage, but the deeds are firmly held by the Chipping Sodbury Building Society and they'll probably make it a condition of the mortgage that you have house insurance.

Your interest is in making sure that the value of the house stays higher than the mortgage. In the normal course of events that should not be too difficult, a coat of paint now and again and it'll be fine as long as nothing disastrous happens. Uh oh, but what if something does? Then you owe a lot of money on something that isn't worth very much. Even if you don't owe money on the house it is probably still your largest single asset and something you could ill afford to lose.