Home insurance protects a homeowner's property and/or possessions. There are two types of home insurance: buildings and contents. The former covers costs of rebuilding or repairing your house, while the latter covers the contents inside your home, in the event of damages or theft.
Buildings and contents insurance can be purchased together or separately. There are no hard and fast rules in buying home insurance, so shop around first to see where you can get the best price and coverage for your home.