Home Insurance: 5 Common Myths Uncovered

With plenty of lingering myths surrounding home insurance, it’s hard to distinguish between fact and fiction, but fear not - Age Partnership is here to uncover the truth between what’s real and what’s not. Here is your guide to 5 common home insurance misconceptions:

1. I have to take out insurance with my mortgage provider

No, it’s not mandatory for you to use your mortgage provider regardless of whether it’s your first home or you’ve been on the property ladder for a while. This means you have the freedom to shop around and find the best deal to suit your needs.

2. Once I choose a policy it’s impossible for me to change or cancel it

This is not the case, policies can be changed at any time. However, you may incur an admin fee with some providers. If you take out your insurance with Age Partnership you will not incur any charges.

3. I have contents insurance, so all my belongings are completely covered

All contents policies have a single item limit, which range from £1,000 to £2,000. Therefore, items above this limit are not automatically covered. If you have items worth more than this limit, you need to have them named on the policy so that the single item limit does not apply.

4. I am automatically covered for any accidental damage

Not all policies cover you against accidental damage and it may generally cost more if that is what you require. It is important to check exactly what your policy covers, as you may need to add accidental damage to your policy.

5. My building insurance should reflect current market value

This an easy assumption to make, however, when taking out building insurance you are actually insured for the amount it would cost to rebuild the property. This means you can be confident that if your home had to be rebuilt from scratch, your insurance would be enough to cover the costs.

Could you get a better deal on your home insurance?

Request a free quote today

FREEPHONE 0800 316 7536 or visit www.agepartnership .co.uk/insurance