A person usually opts for a home insurance to keep their home safe and protected. Building and contents insurance are sub-parts of home insurance. In UK, if your home is mortgaged then you must get this insurance in order to protect your home from danger, still if any danger occurs then this insurance policy will compensate for your loss.
Nowadays, not only the mortgaged home owners of UK, but also normal home owners can get separate insurance that is building insurance and content insurance. But, still getting the joint insurance policy of building and content will be the best option.
In case of the building insurance, it will cover your house completely. Due to natural calamities like storm, flood, third party damage etc if you house gets badly damaged then it will the responsibility of the insurance company to compensate for your loss. If it is a mortgaged house then the provider of the mortgage will suggest you to take out the cover so that the mortgage providers can take the compensation amount as a form of loss recovery system from your side.
In case of content insurance, all your home interior equipments like furniture and other indoor appliances will be covered. If there is any damage to these interior equipments then the insurance company will either compensate you or they will replace the furniture.
In UK, the need for this insurance is increasing day by day. No one can predict the future or say what is going to happen in the next 5 seconds. So, a small incident can destroy your dream home completely. Moreover, suppliers of mortgage loans are now making it a compulsory act to get this insurance as it will somehow cover their loan amount.
All kinds of natural disasters like a fall of trees on the home, fire, flood, lightning etc will fall under the policies of building and contents insurance. In case of the contents insurance, indoor goods like furniture, kitchen fittings, walls, wardrobes, roof, pipes, ceilings, paint, theft, cables, locks, loss of credit cards etc will be insured.