Why is home insurance so important at this time of year?

Many people have valuable and expensive items in their homes at all times of the year, but at this time of the year most people have additional valuables in their homes, having stashed loads of expensive gifts for loved ones and also having received gifts from friends and family. Having a good home insurance policy in place is important at the best of times, but at this time of year when the value of items in your home tends to go up you need to make sure that you have adequate home insurance in place to protect your valuables against loss, damage, or theft. Read more

Tags: financial losses, fire, side, home insurance, flooding, case, check, valuable items

Many people could find it even more difficult to sell their homes

A recent report has shown that many homeowners in the London area could find it increasingly difficult to sell their homes in the near future, as a result of new plans that may be introduced to force homeowners to inform potential buyers about the risk of flooding. It is already very difficult for many homeowners to sell their properties due to problems in the mortgage and housing markets, and this could matters even worse for many more. Read more

Tags: danger, flooding, interest, risk, United Kingdom, housing markets

Insurer gives storm advice

As storms and high tides continue to affect several areas of the UK, Halifax has offered some advice to homeowners about dealing with the inclement weather.

Those who are at risk from flooding are advised to place sandbags outside doors and windows to minimise the amount of water that gets inside, move furniture upstairs and turn off the main supplies of water, gas and electricity.

Meanwhile, to protect a home from windstorm damage, Halifax recommends that owners secure outside items such as garden furniture, cut back low-hanging branches and clear drainpipes of debris to decrease the chance of blocks.

Martyn Foulds, senior claims manager at Halifax Home Insurance, claimed that the insurer is “well-prepared” for the current storms and is ready to serve customers.

“We anticipate more calls coming in as the storm worsens and we are fully prepared for this,” he added.

The average cost of damage from gales each year in the UK is £300 million, according to the Met Office.

Tags: Insurance, main supplies, inclement, storm, chance, Foulds, home

Benefit from low cost home insurance cover from Sainsbury’s

Supermarket giant Sainsbury’s recently announced changes to its credit cards that meant consumers would be able to enjoy longer interest free periods on purchases in addition to a low life of balance transfer interest rate, as well as other benefits.

The supermarket giant has now announced that it has some good news for homeowners that want to enjoy the peace of mind and security of having comprehensive home insurance cover in place without having to pay over the odds on this type of cover.

Sainsbury’s has announced a special deal that will be available for consumers that wish to purchase both buildings and contents insurance cover as a bundle package. These consumers will be able to get twelve months of cover for the cost of just nine months, saving them 25% on the cost of their premiums right away.

Furthermore, consumers that make the purchase online will be able to save a further 10% on the cost of their cover, which means that some consumers could save a whopping 35% on the cost of their cover for a year.

The offer is open to consumers that take out cover before the 27th November, and could attract many customers who are taking out cover for the first time or are due to renew their cover. As a special bonus consumers that take out this cover before 27th November will also enjoy being in with a chance to earn one million Nectar points. The cover includes protection against accidental damage, and customers are able to pay conveniently and easily by direct debit.

Officials from the company state that although insurance premiums on home and contents cover has risen recently, particularly after the flooding problems that hit the country in June, there are still affordable policies and deals available.

Tom Smith
9th October 2007

Tags: buildings, cover, supermarket, Insurance, personal

Flood claims ‘could total £1 billion’

Claims made by the thousands of Britons who have been affected by the recent floods and storms could total some £1 billion, the Association of British Insurers (ABI) has commented.

The figure follows estimates by the ABI that 27,000 homes and 5,000 businesses experienced damage as a result of the recent inclement conditions.

Extra insurers are already being redeployed to visit properties as quickly as possible, the ABI’s director general Stephen Haddrill said, but even with these emergency measures “normal standards of service” could not be delivered.

Outlining how older customers, those with health difficulties and families were being supported first, Mr Haddrill added: “We hope that other people can bear with us as we work through the backlog. We will reach everyone as soon as we can.”

Insurer Zurich says it has received more than 2,600 claims in the last ten days as a result of the flooding and has flown in loss-adjusters from the Europe, US and Australia to cope with the problem.

Jon Cawley, UK property claims operations manager for Zurich, said: “This flooding is taking longer to clear than previous flooding, for example in Boscastle three years ago.”

Tags: storms, claims operations, operations manager, Types of insurance, Outlining, Zurich

Protect home ahead of severe weather

Homeowners are being warned that they should protect their home from the elements as the UK endures a period of severe weather.

Insurance firm Saga says residents must take precautions in order to avoid having to fork out for weather related damaged.

Particular emphasis is being put on encouraging people to check the outside of their homes ahead of any more storms that may hit the country.

Saga is urging homeowners to ensure snow is cleared as quickly as possible, to avoid leaks and damp, while loose putty in windows can cause problems with allowing water to get inside the house.

In addition, people are encouraged to keep a torch and batteries handy in case of a power cut, while doors should also be kept closed in order to retain heat.

Flooding is another major problem which can have a devastating effect on a home. In some parts of the UK it is advisable to take out insurance against flood damage.

It is possible to find out if you live in an area liable to be flooded by calling the Environment Agency’s Floodline.

Saga has produced a free guide, called Prepare Your Home for Bad Weather, aimed at helping homeowners during the winter months.

Tags: prepare, major problem, floodline, flooding, damage, addition, Bad Weather