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In the UK, 93% of properties are insured for the wrong amount, with 7 in 10 homes underinsured – (RebuildCostAssessment).
These numbers highlight why homeowners should review their insurance policies consistently and understand exactly what their cover includes.
As a retiree, it’s likely you’ve paid off your mortgage or are close to doing so, with around 74% of retirees owning their homes outright in 2022-23.
Every insurer has its own limits on coverage for each item, and with Source’s product, Source Home, that limit is set at £15,000.
The big move! Upgrading your status on the property ladder from renter to homeowner. Congratulations! From here, you need home insurance to ensure your new space remains safe while you live there.
Moving homes can be one of the most exciting times in your life. Everyone remembers their first time stepping over the threshold into the place they will call home for years to come.

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