Why do you need home and contents insurance?
To pay for the costs of repair following damage or
destruction of your home as a result of a covered loss such as fire or flood.
To pay for the costs of replacement or repair of your valuables or other possessions following losses such as theft or damage.
When you secure a mortgage to purchase a home, your lender will require that you arrange buildings insurance and note their interest.
Financial coverage for amounts the policy-holder may become legally liable to pay as a result of third party injury or damage.