Frequently Asked Questions
1. Why should I review my home insurance?
Your circumstances, property and possessions can change over time. A review helps make sure your buildings and contents insurance still provides appropriate protection.
2. Could I be paying too much for my home insurance?
Possibly. Insurance premiums and available policies change regularly. A review can compare your existing cover with other suitable options.
3. Does the value of my house determine how much buildings insurance I need?
Not necessarily. Buildings insurance is generally based on the cost of rebuilding the property, rather than its current market value.
4. What happens if my home is underinsured?
If the buildings sum insured is too low, you could potentially find yourself financially exposed following a major claim. This is why checking the appropriate level of cover is important.
5. Should I review my contents insurance too?
Yes. The value and type of your possessions can change considerably. New furniture, electrical equipment, jewellery and other valuables may need to be included.
6. Do expensive items need to be listed separately?
Some policies have individual limits for valuable possessions. Jewellery, watches, bicycles and other high-value items may therefore need to be specified separately.
7. What if I have made improvements to my home?
Tell your insurer or adviser. Extensions, loft conversions, new kitchens, conservatories and other alterations can potentially affect your insurance requirements.
8. Does working from home affect my home insurance?
It can, depending on what you do and the equipment involved. It's worth checking your policy if you regularly work from home.
9. Can my insurance cover possessions outside my home?
Some policies can include personal possessions cover, which may protect certain belongings away from the property. The limits and conditions vary between policies.
10. Should I just accept my renewal price?
It's worth reviewing your options rather than automatically renewing. A different policy may offer more appropriate cover or a more competitive premium.
11. How often should I review my home insurance?
At least once a year, particularly when your policy is approaching renewal. You should also review it whenever your circumstances or property change.
12. What should I do if I haven't reviewed my insurance for several years?
Don't wait until you need to make a claim. A review can identify whether your cover, sums insured and policy features remain appropriate.
13. Can I review my buildings and contents insurance alongside my mortgage?
Yes. Reviewing your protection and insurance arrangements at the same time as your mortgage can be a useful way of making sure your overall financial protection remains appropriate.
Don't wait for a claim to find out what your policy covers. A regular home insurance review can give you confidence that your property and possessions are properly protected.