Contents insurance protects the belongings someone owns inside a building.

Items such as furniture, laptops, televisions, clothes, jewellery, DVDs, kitchenware such as pots and pans, bedding and curtains are included in this type of cover.

Additional options such as accidental damage can be included, but premiums are usually higher on these policies.

Building insurance provides cover for the actual physical structure of the property you want covering, and not just the fixed items inside that building.

So for instance, the doors, walls, floors and ceilings are among what is covered with this type of insurance.

Building insurance will cover you if events such as fires, lightning strikes, earthquakes, vandalism and falling trees come to pass.

This kind of insurance protects landlords from any damage caused by their tenants, and can help bridge any shortfalls in rent if you are between tenants.

Normally landlords’ insurance will include buildings insurance, financial protection and accidental damage cover, and before you get a buy to let mortgage, most lenders will want to see you have insurance of this kind in place.