Many people have not reviewed their Home Insurance in a long time and could well be paying much more than you need to, or not have the level of cover you should have in place, we can review this to see if you are either paying too much for your policy or could get most suitable cover for you
If you own your property and have a mortgage, it is often a requirement placed by the Lender, the reason being that if something happened to the property, the insurance would either pay to have it fixed or in the worst case, rebuilt. Without this in place should anything happen you would need to pay for the repairs yourself. Imagine the cost of repairs should there be a fire, flood subsidence etc and bear in mind that this could affect how much is worth and your mortgage company would still want their money back.
Contents insurance is equally important again for the same reasons above, you may have to replace everything in your home, from personal items, clothes, furnishings, decoration etc
With both Buildings and Contents you can build in extras, such as Accidental Damage, so that if someone accidentally damages or breaks something, you could make a claim and the cost is not usually too much more. Also things like Legal Cover should you need to use a solicitor, cover away from your home which can be for items of jewellery, electronics, bikes etc and home emergency cover, should you need to call out a plumber, electrician or other trades to make your home safe.
You should also have this type of insurance if you own a home that you rent out, a Buy to Let property and even if renting yourself, you could take Contents insurance to protect all your belongings.