Do you need insurance when buying a house?

If you're thinking of taking out a mortgage in the UK, one thing to keep in mind is that lenders typically require buildings insurance. This covers damage to the structure of your property from things like fires or natural disasters. But there are other types of insurance to consider depending on your situation. For example, life cover (also known as life insurance) provides a lump sum to your loved ones in the event of your death, which can be used to pay off debts or support your family. Critical illness cover pays out if you're diagnosed with a serious illness, and family income benefit provides a regular income to your family if you pass away.

There are other ways to protect yourself as well, it's always important to get advice on the right thing for you.

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