When you have bought your home, you will want to protect yourself by insuring the building against damage, including that caused by subsidence. In any case, the mortgage lender will insist on it.
It is also wise to protect your home contents. You can often buy a combined buildings and contents insurance policy.
You may also need life insurance, critical illness and disability illness or mortgage-payment protection in case you are not able to pay your payments if you are made redundant or suffer a prolonged absence from work.
If you are buying with someone else, you will need to have insurance to cover you if one of you dies, and also to make certain you have the right beneficiary appointed.
Contributed by Helen Adams, Managing Director of www.FirstRungNow.com
See Also: Help for First Time Buyers (6)