Insurance premiums could soar for flood victims

It has been revealed in a recent report that consumers who live in flood risk areas in the UK could be hit with huge insurance premiums as a result of insurance companies getting tougher. Over recent years insurance companies have had to pay out a fortune as a result of severe flooding in certain areas, which has devastated homes, and it now appears that the industry is determined to clamp down.

According to a recent report some homeowners could be hit with insurance hikes of 500 percent, and may be forced to pay the first £6000 of any claim themselves. The claims come from a report from the consumer charity the National Flood Forum, and is being prepared for a summit that will take place this month between a number of parties, including government officials, insurance industry officials, local authority officials, and representatives from the charity.

The summit will take place to try and determine how flood insurance can still be available to consumers on a widespread basis. The consumer charity surveyed three hundred flood victims, and found that the average increased that they had seen on their premiums was a massive 500 percent. One tenth of those surveyed also had flooding excluded from their policies when they came to renew their cover following a flood claim.

An official from the National Flood Forum said: ‘There’s no consistency in the treatment of flood victims by insurers. And you can’t simply move to another insurer, as they don’t want you. We found Axa, Aviva and Halifax were worst for raising premiums and excesses. The biggest danger is what happens after 2013. If you can’t get insurance, no one will give you a mortgage and you can’t sell your home.’

Tags: home insurance, insurance hikes, health insurance, aviva, Insurance, Flood insurance

Elderly not always getting best deal on insurance cover

Many older consumers in the UK opt for insurance services that cater specifically for the elderly, and in most cases they believe that they are getting a great deal on their cover. Read more

Tags: insurance services, health insurance, insurance cover, Types of insurance, cheaper motor insurance cover, Insurance, British Insurance Brokers Association

Stick to your New Year’s resolution to save money on your insurance costs

At the start of every year millions of people make New Year’s resolutions, which at the time they fully intend to stick to. Of course, as most of us know these resolutions simply melt away into nothing within a few weeks for many of us but there are the determine few that are able to stick out their resolutions. Read more

Tags: life insurance, finance, Insurance, new year resolution, health insurance

Consumers warned not to cut back on health cover

Consumers in the UK are being warned about cutting back on their health insurance cover in order to save money, with one financial advisor claiming that the benefits of having health cover are too great to simply view this as something that can be cut back on. Read more

Tags: comparison sites online, critical illness, health insurance options, heart, health cover

Parents keen to take out health insurance for their kids

According to recent reports there has been a rush in the number of parents that are keen to take out health insurance cover for their children, and this follows an outbreak of illnesses that have caused grave concern to parents. Read more

Tags: nhs, excellent care, kids health insurance, business, healthcare, national health service, cover

Pets Don’t Have to be Expensive

According to a recent survey, pet owners in the UK spend a total of £94 million a week on items they need to give their pets the care and attention they need. You can cut down on this expense in several ways. Read more

Tags: de-worming procedures, vet fees, dog causes injury, insurance providers, pet insurance, GBP, pet costs

Switching Health Insurance Policies

Many UK residents are scratching their heads in disbelief as the renewals for their health insurance policies come due. The premiums have risen and in many cases by as much as 10%. Since having health insurance cover is vital, many people think they have no other choice but to pay the higher premiums. Such is not the case and there are ways of relieving this type of financial pain. Read more

Tags: health insurance, Labor, Bupa, health insurance premiums, age, streamlined health insurance policy, health insurance costs, Social Issues

Is private health insurance the way forward?

We all want to do our best to protect our own health and that of our loved ones, but for many people in the UK the National Health Service leaves a lot to be desired. The NHS has come under fire for many things over recent years, from the length of its waiting lists and the quality of care given in hospitals to the levels of staff and even the levels of hygiene exercised in NHS hospitals. Read more

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Making Sure You Get The Cheapest Pet Insurance Available

With recent changes in veterinary treatment and technology, it is now very possible to incur veterinary bills in the thousands of pounds. If, therefore, you are thinking of taking out pet insurance to cover and illness or accident that your pet may suffer, this may not only be one of the wisest decisions you make on behalf of your pet, but could also be one of the most financially astute decisions you make. Read more

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