Buildings insurance is a type of insurance policy that provides financial protection if there is damage to the structure of your home, such as the walls, roof, and floors. It usually covers damage to fixtures and fittings too, such as pipes, cables, and drains. Buildings insurance covers the cost of repairing damage to the structure of your property, including garages, sheds, and fences. It also covers the cost of replacing items such as pipes, cables, and drains. Buildings insurance is usually a condition of your mortgage if you own your own home. If you are renting a property, you do not need to take out buildings insurance as it is your landlords responsibility to make sure the right cover is in place. Buildings insurance can be bought separately or as part of a combined home insurance policy that also includes contents insurance. The cost of buildings insurance is based on the estimated cost of rebuilding your home from scratch, not the same as your homes market value. The policy should cover the full cost of rebuilding your house, including the costs of demolition, site clearance, and architects fees. Some common events that buildings insurance usually covers include fire, explosion, storms, floods, earthquakes, theft, attempted theft, and vandalism.