If you own your own home you should have home insurance. It comes in two different types, which are generally referred to individually as they cover different things.
The first type is buildings insurance, and as the name suggests this covers the actual building itself. So if anything were to happen to cause damage to the fabric of your home – such as a fire or a flood for example – your buildings insurance will cover the cost of getting your home repaired so you can live in it again.
In contrast, contents insurance covers the items inside your home. The best way to focus on what this covers is to think of everything that isn’t actually built into your home. For example a fitted kitchen would be covered under buildings insurance, but your microwave and fridge freezer would be covered under contents insurance.