At a glance
Home insurance is made up of buildings and contents cover.
You can buy these separately or as a combined policy.
Buildings insurance covers the structure of your home, while contents insurance covers movable belongings.
Your mortgage lender will most likely require you to have buildings cover in place from the day you exchange contracts.
What is home insurance for first-time buyers?
First-time buyer home insurance isn’t a specific product. It’s simply a term used by insurance providers to help new buyers navigate the complexities of taking out insurance for the first time.
The cover basics for first-time buyers are the same as for any other homeowner. But you can tailor your cover to meet your needs and budget.
In return for paying an annual or monthly premium, your home will be financially protected against damage and theft.
What insurance do I need when buying my first home?
There are two main types of cover to think about for your home – buildings insurance and contents insurance. You can buy these as two separate policies or combine them into one single policy.
Buildings insurance
Home insurance isn’t a legal requirement. But your mortgage provider will most likely insist you have adequate buildings insurance in place as a condition of their offer – they may even ask for evidence of it.
Buildings insurance covers the structure of your home, including walls, doors and fitted kitchens and bathrooms. It can protect you against theft and damage caused by:
Buildings insurance may also cover gardens, garden walls and fences, garages, and sheds and outbuildings. Check your policy documents to see exactly what’s covered.
How much does buildings insurance cost for first-time buyers?
Buildings insurance is calculated on how much it would cost to rebuild your home if it’s destroyed beyond repair. For that reason, it’s important to make sure you have an accurate idea of the cost of rebuilding your home from scratch, rather than its market value.
Read our guide for more information on how to calculate the rebuild cost of your home.
You’ll need to know your home's rebuild cost when getting a buildings insurance quote. We can help you work this out using the Building Cost Information Service calculator when you compare buildings insurance with us.
How much you pay for buildings insurance can also depend on whether you live in an area prone to flooding.
51% of our customers were quoted less than £170.35 for their buildings home insurance in June 2026.
Contents insurance
Contents insurance covers the cost of repairing or replacing your home's contents if they’re damaged, destroyed or stolen.
This includes anything you’d take with you when you move, such as furniture, clothes, jewellery, appliances, entertainment equipment and so on. In other words, your household belongings.
If you’re moving into your first place, you might be lucky enough to receive housewarming gifts. Don’t forget to make sure you include them when working out how much your contents are worth.
See our guide to valuing your contents accurately.
How much does contents insurance cost for first-time buyers?
The cost of contents insurance will largely depend on the location of your new home and the total value of your possessions.
The cost may also be affected by the amount of voluntary excess you agree to pay towards a valid claim.
51% of our customers were quoted less than £56.29 for their contents home insurance in June 2026.
How much does combined buildings and contents cost for first-time buyers?
If you’re looking to save money on your home insurance, a combined policy from one insurance provider could work out cheaper, with less paperwork too.
51% of our customers were quoted less than £194.03 for their buildings and contents home insurance in June 2026.
Home insurance, like car insurance, allows you to build up a no claims discount (NCD).
First-time buyers are likely to pay more than other homeowners because they won’t have an NCD to help reduce their premium.
Top tip
If you’re never bought home insurance before, our home insurance glossary might help explain some of the unfamiliar terms.
Do I need home insurance for a flat?
If you’ve bought a flat, it’s worth considering contents insurance.
Buildings insurance is usually the responsibility of the freeholder. Most flats are leasehold, which means you don’t own the land or the building’s structure.
In many cases, the freeholder will organise buildings insurance for the entire apartment block and you contribute to the cost via a service charge.
What optional extras can I add to my home insurance?
Additional cover you can add to your policy for an extra cost includes:
Accidental damage – offers cover if you spill red wine on your cream carpet or break a window, for example.
Legal expenses – can cover legal costs of disputes relating to your property, for example, a boundary dispute.
Personal possessions – gives you cover for your belongings if you take them out and about with you.
Home emergency cover – can cover the cost of emergency repairs and labour if you have a burst pipe, electrical failure or damage to your roof in a storm, for example.
Before paying extra for these, check they’re not already included as standard to avoid doubling up on cover.
When should I buy home insurance?
You should have your buildings insurance in place from the moment you exchange contracts on your new home.
That’s because you become legally responsible for the property from this point, even though there could still be a while to go before you move in.
And you might want to consider getting contents insurance before you move in, to cover your actual move. You may have to use a professional removals firm for the cover to be valid. Check the details of the policy.
When won’t first-time buyer home insurance protect me?
Home insurance is there to protect you against the unexpected. Typically, it doesn’t cover:
General wear and tear – or damp and rot, for example, because you haven’t maintained the property
Negligence – for example, leaving a window open that allows a burglar access
Deliberate damage caused by a member of your household
Pet damage – if your dog or cat chews or scratches your belongings.
Problems caused by pest infestations generally aren’t covered either – although you may be able to get cover through a home emergency policy.
Most policies will also have a set number of days that your home can be unoccupied. This is typically 30 days, although some policies may have a higher limit. If you need to be away for longer, consider unoccupied home insurance.
Check the home insurance policy before you buy so you understand exactly what you are and aren’t covered for.
Where can I buy home insurance for first-time buyers?
Shopping around and comparing quotes is an ideal way to find an affordable deal on home insurance.
As a first-time homeowner, you’ll already have a lot of expenses to juggle. We can help you search for quotes that won’t break the bank.
FAQs
Do I need buildings insurance on a new build?
Yes, you’ll need buildings insurance on a new-build house. Although you might have a guarantee or warranty on your new home, neither offer the same cover as buildings insurance.
If you’re buying your new-build home with a mortgage, the mortgage provider is likely to insist you have buildings insurance in place.
What types of insurance paperwork are there?
The paperwork you’re sent when you buy insurance may include:
Key facts guide or summary of your insurance
Policy schedule
Important information about your policy
Product information
Terms and conditions
Provider contact details
You’ll usually have the option of getting your documents by post or email. Many insurance providers also offer secure online portals where you can access your paperwork online.
Why is insurance paperwork important?
Insurance paperwork is important because it sets out the rules for your policy and defines what you can claim for and what you can’t.
If you make a claim, you’ll need information from your paperwork, including your insurance provider contact number, policy number and details of how to make a claim.
What other documents do I need to keep for insurance purposes?
If you have high-risk items, it’s important to keep any original receipts as proof of ownership, in case you need to make a claim on your contents insurance.
It’s also a good idea to keep updated valuation certificates for expensive valuables, like jewellery, antiques and rare collectables.
You might also want to consider taking photos of valuable or important items, and keep them with your insurance paperwork.
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Helen’s our resident home insurance expert, as the former Head of Home Insurance at Compare the Market. She's also experienced with car insurance and pet insurance from her previous roles across commercial, partnerships and as a freelance consultant, working with more than 100 insurers across a variety of insurance products.
Stephen Maunder is an experienced personal finance editor, having spent more than a decade working for consumer print and online titles. He won several industry awards for his personal finance features at Which?, before becoming Deputy Editor at Compare the Market.
Rebecca Goodman is a freelance financial journalist who specialises in insurance, personal finance and consumer affairs.
Our content is written by a Compare the Market expert, backed by data and enhanced by technology. Find out how we ensure accuracy and quality in our Editorial Guidelines.
