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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.
At Source, our goal is to make home insurance simple and understandable, so you can clearly grasp your policy and recognise your individual needs.
We have compiled some of your most frequently asked home insurance questions to provide clear and simple answers, saving you time from searching online.
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.

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