ABOUT 29 million people in the UK have home insurance. Despite this, there are still many commonly held misconceptions that prevent people from getting value for money or may even prevent a successful home insurance claim.

Lloyds TSB Insurance offers the following helpful tips:

• Buildings insurance does not have to be tied to your mortgage. As long as you provide your mortgage lender with the details, you are free to switch. It could save you money.

• If you make a claim on either your buildings and contents insurance, even if the policies are held by the same company, a claim on one should not affect the no-claims discount on the other.

• Make sure your insurer knows of any claims you've made in the past - "nondisclosure" is a major cause of failed claims.

• If your home is very old, listed or not of standard construction, make sure that your insurer knows - you may need a specialist insurer.