Do I need property insurance?
If you have a mortgage secured against your property then it is a requirement of all lenders that you hold an adequate buildings insurance policy. If you don’t have a mortgage then it is up to you; we would not recommend that you leave your property un-insured
There are different types of policy for residential properties and those that may be occupied by a tenant. Make sure your property is correctly insured if changes from residential to let or vice versa.
Contents insurance often accompanies buildings insurance but you do not need to have this with the same insurer (it is usually cheaper to combine the two though). It is not compulsory to have contents insurance but we recommend that you do, especially if you have valuable items or live near a flood plain