Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Buildings Insurance as it relates to mortgages in the UK. Buildings InsuranceAn essential insurance policy which covers the structure of the building. Most buildings insurance policies cover damage to home in the event of some or all of the following events; fire, lightning, explosion, earthquake, theft, storm, flood, aircraft or things falling from them, subsidence, landslip, falling trees, impacts by vehicles or animals, breakage or collapse of aerials, escape of water from tanks or pipes Escape of oil from fixed heating installations. You should make sure that you are aware of what is, and what is not covered with your policy.
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