Home contents and building insurance

It's important your home is insured. The type of insurance you need depends on your lease and the kind of home you live in.

There are two main types of home insurance:

  • Buildings insurance — covers the structure of your home
  • Contents insurance — covers your belongings

What type of home insurance do I need?

As a shared owner, you will need contents insurance to ensure that  your belongings, such as electrical items, furniture, carpets and furnishings  are covered. This must include cover for accidental damage to the property.    

As the freeholder, Redwing will cover buildings insurance.    

What is home contents insurance?

Contents insurance helps protect your belongings if they are damaged, lost or stolen. Things this covers could include:

  • Furniture - sofas, tables, chairs, beds.
  • Appliances - fridges, ovens, washing machines, microwaves.
  • Electronics - televisions, computers, tablets and other devices.
  • Clothes and personal items - clothes, shoes, jewellery and accessories.
  • Household items - carpets, curtains, decorative items.

You  will need to arrange this insurance yourself, but we can provide guidance if you need help.

What is buildings insurance?

This includes things like the walls, roof, windows, and permanent fixtures such as kitchens and bathrooms. It protects your home against damage from things like fire, flooding, storms, or vandalism.

As a shared owner you do not need to arrange or pay for buildings insurance yourself. Redwing (through our parent organisation, The Regenda Group) arranges this for you as part of your service charge. This is explained in your lease. We review the insurance contract every five years to make sure it offers good value.

Please note: you will need to pay the insurance excess if you make a claim. You can find the amount in your insurance summary.

Buildings Insurance Update – October 2025

We renewed our buildings insurance policy on 1 October 2025. This update explains the arrangements for the insurance year running from 1 October 2025 to 30 September 2026.

Who provides the insurance?

Our new insurer is Protector Insurance. They were selected through a competitive process carried out by our independent insurance broker, Marsh Limited.

If Redwing owns the freehold of your building, your lease requires us to arrange buildings insurance on your behalf. Working with a broker helps us secure good value for leaseholders and shared owners.

How long is the agreement?

We have agreed a long‑term arrangement with the insurer to help keep costs stable. Your premium (the cost of your insurance) covers the period from 1 October 2025 to 30 September 2026.

The premium is based on the estimated cost of rebuilding your home. This figure may differ from the amount shown on your service charge statement because service charges are budgeted annually and may include adjustments from previous years.

For more information, please read the FAQs below.

Who is responsible for providing building insurance?

  • If Redwing owns the building (the freeholder): we arrange the buildings insurance. Leaseholders and shared owners contribute to the cost through their service charge.

  • If another organisation owns the building (a superior landlord): they will usually arrange the insurance. If this applies to your home, some details in your letter may not be relevant.

Where can I find the insurance policy or summary?

A summary of cover is included with your letter. This has always been available on request, but we now send it automatically to meet new regulatory requirements.

What are the new leasehold rules?

The Financial Conduct Authority (FCA) has introduced new rules to improve transparency for leaseholders. These rules require insurers and brokers to:

  • provide clearer information

  • explain what is covered

  • show how costs are calculated

  • ensure leaseholders are treated fairly

For housing associations, shared owners are included within the definition of leaseholders. Landlords must now pass on insurance information to leaseholders.

What do the rules mean for me?

You do not need to take any action. Redwing will continue to manage the insurance on your behalf. The new rules simply mean you will receive more detailed information about your insurance and how your share of the cost is calculated.

How is my insurance cost worked out?

The insurer calculates the cost using information about the building, such as:

  • the type and age of the property

  • how it is constructed

  • its location

  • the rebuild value

  • past insurance claims

They use this information to set a rate and then add Insurance Premium Tax (IPT). We receive one total cost for all homes covered by the policy and divide it using the method set out in your lease. You only pay your share.

How does this fit into my service charge?

The insurance year runs from October to September, while your service charge year runs from April to March. This means your service charge includes part of two different insurance periods.

Example:

  • Insurance Oct 2024 – Sept 2025 = £100

  • Insurance Oct 2025 – Sept 2026 = £120

  • Budget for April 2025 – March 2026 = £110 (£50 from the first policy, £60 from the second)

Why do we need a new insurance policy?

No. You’re not being asked to pay anything extra. We’re just sharing more details with you as required by the new rules.

Can I arrange my own buildings insurance?

No. The building is covered under a block insurance policy arranged by Redwing (or the superior landlord). This ensures all homes in the building are protected and avoids gaps in cover.

You do not need to arrange your own buildings insurance. However, we recommend taking out contents insurance to protect your personal belongings.