Categories for Home Insurance

5,000 On Standby For Insurers’ Winter Flooding Response

November 2, 2015 10:53 am

Insurers have a small army of people ready to go into immediate action in the event of any flooding this winter, the Association of British Insurers (ABI) announced today. Ahead of the anniversary of last winter’s severe floods, which began on December 4th, the ABI is reassuring people that insurers have thousands of staff on standby to deal with severe flooding this year. This  staff includes : 2,750 people to handle calls about claims and 2,250 people available to send in on the ground to support customers, assess damage and initiate repairs. Insurers have immediate access to tens of thousands...

Elderly Woman’s House Insurance Triples Overnight Due To New Flood-Risk Map

October 5, 2015 10:49 am

House insurance quotes have sky-rocketed in certain Northampton postcodes following the release of a flood risk map by the Environment Agency. The ‘Risk of Flooding from Surface Water’ map was compiled up to six years ago but has recently been released, the Environment Agency says, so homeowners can take action but also for insurance companies’ perusal. One victim of the data release is the aunt of former teacher Pas Renda, who lives in Spinney Hill Road and has seen her insurance with Home Policy rise from £136 on Saturday to £450 on Sunday. Neighbours in her postcode area are also...

Get the cheapest home cover for you

September 19, 2015 2:27 pm

One in four people have ditched their home insurance in order to save money, leaving them at risk from theft or damage from fire or flooding. But there are other ways you can save on home insurance and remain protected. Research from the Association of British Insurers (ABI) and YouGov found that 22% of people have ditched their home insurance, while 17% have cancelled their buildings insurance. Scotland is the worst region, with 28% of people admitting they no longer have any home insurance in place. The figures have prompted concern among insurers, as failing to have home insurance in...

Accidents WILL happen – and at a cost of £8m extra on home insurance premiums!

June 19, 2015 2:22 pm

Accident-prone British households are costing themselves an extra £8m in home insurance premiums as a result of claims which relate to totally avoidable incidents. Research (of 2.8million home insurance quotes), found that 80% of claims boil down to four main types of incident Accidental damage, Escape of water, Theft and Storms and floods. But more frustrating – given that premiums go up when you make a claim – is that the majority of claims (51%) come from incidents that are TOTALLY avoidable. Accidental damage Just shy of 32% of home insurance claims are down to accidental damage, according to our...

Building Societies charging borrowers for going elsewhere for insurance

April 21, 2015 3:30 pm

Survey shows customers are paying £2m a year for the practice of ‘bundling’ that was abandoned a decade ago. Building societies are forcing home buyers to take out their often high-priced in-house insurance policies – or face a penalty of as much as £45 if they shop around.   A survey by comparison site comparethemarket.com named Ipswich building society as the worst offender in a list of 18 lenders which charge home buyers if they choose to buy their buildings insurance at an alternative provider. The society charges £45, although in a statement it said that it plans to drop the...

Price comparison sites criticised over failings

January 21, 2015 3:25 pm

Many sites fail regulatory standards by not providing enough details for consumers to make informed choices, says FCA. Price comparison websites are breaking regulatory rules by prioritising price over cover in many cases, said the City watchdog.   The Financial Conduct Authority looked at 14 price comparison websites, which between them account for 90% of the market, selling private motor, home and travel insurance and concluded that many were failing regulatory standards. The websites did not always provide clear information on basics such as the terms of the policy and the cover it provided, as well as the excess that...

Don’t accidentally invalidate your home insurance.

November 21, 2014 3:23 pm

Few of us think we’ll ever fall victim to burglary yet it’s an issue that a surprisingly high number of people have faced. According to recent research, 1 in 10 of us has had our home burgled. More alarmingly perhaps is that one in three people admit to leaving doors unlocked when they leave the house and six per cent hide spare keys near their front door.   While some may think leaving doors unlocked is a trivial action, by not securing your property efficiently, you’ll not only risk burglary, you’ll also risk invalidating your home insurance. If there is...

Insurers accuse Miliband of raising false hopes for UK flood victims

September 21, 2014 3:18 pm

A furious insurance industry branded Ed Miliband as irresponsible and accused him of raising false hopes when he suggested that insured victims of the floods should receive payments within weeks.   Insurers also challenged claims by the Labour leader’s office that Miliband had recently met senior executives in the insurance industry, saying they had been seeking a meeting with him for some days.   An Association of British Industry source said Miliband was “sending out the worst possible message” to people who had to come to terms with the impact of the recent floods. “Making claims in these situations can...

Owen Paterson has failed to factor climate change into flood insurance

August 21, 2014 3:17 pm

Homeowners’ deal doesn’t take into account the increasing risk from rising sea and shifts in rainfall due to climate change   With insurers receiving thousands of claims for flood damage caused to homes over the past few weeks, there are worrying signs that the Department for Environment, Food and Rural Affairs is failing, under the stewardship of its Secretary of State, Owen Paterson, to take account properly of the implications of climate change for a new flood insurance scheme.   Much of the recent flooding has been triggered by heavy rainfall, with last month being the sixth wettest December in...

Original figures included partnership funding from local authorities of £148m

June 21, 2014 3:14 pm

The government has come under fire after floods minister Dan Rogerson admitted “some minor inconsistencies” in figures on flood defence spending, adding that they have now been “rectified”, the BBC reports.    The government had claimed that the coalition was spending a record amount of money on flood defences, but the amount will only reach that level if partnership funding from local councils is included in the total.    Rogerson said in a statement: “Floods funding is complex, with a number of different income streams including government funding, local levies, and other contributions towards schemes.    “Further analysis has identified...