There are usually two things that you might want to protect – the structure of your building, and the things that you own inside it. Although separately these are often known as a buildings policy and a contents policy, when taken together they are usually known as home insurance.
A building insurance policy is one that protects you against damage to the fabric of your property – such as the roof or the walls.
So if your property is damaged by flooding or a burst pipe or by third party actions, for example, your insurance will cover the cost of repairs and also pay for you to stay somewhere else, if required, while your home is being returned to its former immaculate condition.
Your Emerald building insurance also provides cover to protect you against those everyday disasters such as losing your keys and requiring a locksmith to change the locks.
If you live in a flat, where there are other flats in the building, or you rent your home, then it is more usual for the buildings insurance to be taken out by the owner of the while building (sometimes, the freeholder), as the owner has the obligation to protect the building itself. However, the costs of that insurance will usually be passed through to the owners of the flats as part of the service charge.
Contents insurance is a policy that covers the belongings and possessions in your home from damage or loss.