The invention discloses a moistureproof type low-smoke halogen-free flame-retarding wire and cable insulation material used for building. The insulation material comprises components, by weight, 100 parts of vinyl copolymer and/or ethylene propylene rubber, 100-250 parts of halogen-free flame retardants, 1-20 parts of compatilizer, 0.3-5 parts of antioxygen, 0.5-5 parts of lubricants, 0-3 parts of coupling reagents, 0-2 parts of dispersing agents, and 2-20 parts of one or more of vinyl silicone oil, silicone, silicone grease, silicone rubber, and mineral oil. Wires made of the material is low in smoke, free of halogen, incapable of releasing poisonous gas. Flames can be retarded due to the fact that a single stick of wire can vertically combust at combusting time. Moreover, some special addition agents are added in materials of insulation layers or protective sleeve layers, so that the surface hydrophobic property of products is increased and can be used in a high-temperature humid environment for a long time, and short circuit accidents caused by moisture absorption of the wire insulation layers are avoided.