Home insurance – Facts vs Fiction

How well do you understand home insurance? In this article, we’re busting four common false claims and giving you the facts to help you find the right policy for you.

‘The cheapest policy is always the best’

While affordability is an important factor in choosing insurance, cheaper polices tend to offer very limited cover. This will likely leave you underinsured, meaning you’ll have to pay out of your own pocket if you make a claim that isn’t covered under your policy.

At Wesleyan Financial Services, we focus on value, not just cost – meaning you’ll get comprehensive cover that truly protects you. 

‘All my belongings are covered, even away from home’

Standard contents insurance typically only covers items within your home. If you frequently take valuables like laptops, jewellery, or sports equipment outside, you'll likely need to add "personal belongings" or "all risks" cover to your policy.

When you come to us for insurance, we’ll assess your needs and lifestyle, to make sure your possessions are protected wherever you take them.

‘Home improvements automatically increase my cover’

Major renovations or extensions can significantly increase your property's rebuild value, potentially higher than your insurance currently covers you for. On top of that, there may be more risks associated with the rebuild that aren’t covered under your existing policy.

It's crucial to inform your insurer about any significant changes to your home, as failing to do so could invalidate your policy. 

‘My home is in a flood risk area, so I can't get cover’

While living in a flood risk area can impact premiums, it doesn't mean you can't get cover.

Specialist insurers and initiatives like Flood Re (a scheme supporting affordable flood insurance) exist to help. And as a specialist broker, we’re skilled at finding cover for properties in challenging locations.

Insurance for every type of home

At Wesleyan Financial Services, we know how important your home is to you. That’s why we offer expert advice to help you assess the real value of your property and possessions.

Wesleyan Financial Services Limited is a broker and insurance products are provided by a number of selected insurers.