Categories for Uncategorized

Insuring Your Rental Property Correctly.

July 29, 2019 11:29 am

There have been a number of stories in recent months about how landlords have suffered costly damage to their rental properties and have not been covered by their insurance policies. Such stories highlight the importance of carefully scrutinising what is and isn’t covered in your landlord’s insurance policy. Following an argument, an angry tenant left his property owner with £17,000 worth of damage. The destruction included abusive graffiti, animal faeces and vandalised fixtures and fittings, which the Blackpool landlord believed may have been caused by intentionally breeding dogs in a ‘makeshift cot’. The landlord was not fully covered, as his...

Around £266bn Worth Of UK Household Possessions Are At Risk Due To Lack Of Insurance

July 15, 2019 9:26 am

An estimated £266bn worth of household possessions across the UK are not insured against risks such as theft, fire, flooding and accidental damage, according to insurers. The calculations were made by the Association of British Insurers (ABI), which said the average UK household contains £35,000 worth of possessions. The ABI said the typical contents of a home are worth more than the average annual salary, which stands at £27,000. The total value of possessions owned by all UK households are now worth an estimated £950bn – which is more than the combined value of all homes in Scotland, Wales and Northern Ireland,...

What Does Extreme Weather Mean for your Home Insurance?

July 1, 2019 11:43 am

Lost among the latest barrage of national and international news events is the ongoing nightmare faced by almost 600 households unable to return to their homes in Lincolnshire because of flooding. A few weeks ago the River Steeping burst its banks following heavy rains. More than 580 homes in the Wainfleet area were evacuated, with flooding directly affecting around 130 homes and 1,000 people still unable to return. It’s the latest case of extreme weather to hit the UK. Extreme meteorological events can be deeply upsetting for the people directly affected and seriously unnerving for everyone else. However they are...

Most bizarre insurance claims of 2018 – including misbehaving monkeys

June 17, 2019 11:42 am

Insurer Aviva has revealed some of the most unusual cases it saw last year – including a hapless burglar who managed to get himself locked in the homeowner’s shed A badly-behaved monkey, a bungling burglar trapped in a shed and an amorous horse which mistook a customer’s car for a potential mate prompted some of the most unusual claims for damage to property which insurance giant Aviva dealt with last year. The UK’s biggest insurer said it accepted 96% of the claims it received in 2018, amounting to 991,700 commercial and personal claims collectively worth more than £3.8 billion. It...

Millions of Holidaymakers At Risk As They Don’t Bother With Travel Insurance For Their Trip.

June 3, 2019 11:41 am

Some 38% of people planning to go overseas have not yet arranged travel insurance. This could equate to 8.6 million people potentially putting themselves at risk, if the findings from the survey of more than 2,000 people in May were projected across Britain by Abta. They could face paying substantial medical or repatriation costs if they fall ill or hurt themselves abroad, or even having their treatment delayed. Abta is reminding people to make sure they take out a travel insurance policy as soon as they book their holiday, as this will help protect them if they need to cancel...

Why It Makes Sense to Purchase Legal Expenses Insurance

May 20, 2019 11:39 am

When taking out residential or commercial insurance, legal expenses is one aspect of cover that should not be overlooked. Legal expenses contracts fund the costs associated with legal and/or the costs of defending or initiating a court case. Legal expenses insurance can be purchased before an event happens as a precaution so that the policyholder is covered if an incident arises where they need legal expenses paid for. Some of the most common needs for legal expenses is to cover the legal proceedings incurred from the insured home or commercial premises, such as damage or nuisance caused by trespassers and...

More Than Half of British Businesses Witnessed Cyber-Attacks in 2019.

May 6, 2019 11:36 am

The number of UK firms reporting a cyber-attack has increased, though most businesses admit they are ill-prepared for a breach, according to research from Hiscox, an insurance provider and underwriter at Lloyd’s of London. A week hardly passes without news of a major cyber incident, and there have been great adverse effects associated with most of them. There is rampant data theft; ransom demands are steadily rising; as is the heightened hostile cyberspace within which businesses must operate. The cyber-threat is unavoidable in today’s business world. Hiscox surveyed approximately 5,400 small, medium and large businesses across the UK, Belgium, Germany,...

How To Insure Jewellery Correctly.

April 15, 2019 1:37 pm

Owning at least one item of valuable jewellery is relatively common, but so is losing it, damaging it, or having it stolen. From watches and wedding rings to necklaces and bracelets, are you sure you could claim on household insurance if something happened to yours? Not all home cover automatically includes jewellery. Even if it does, the single item claim limits on most policies, usually between £1,000 and £2,000, might be nowhere near high enough. Wedding rings, for example, are often worth well over the common claim limit of £1,000. So if yours fell off your finger, or was stolen...

Record Subsidence Claims As A Result of Dry Summer.

April 1, 2019 2:35 pm

Recent figures show that last year’s record breaking summer has caused a massive increase in the number of homes suffering from subsidence. But how can you tell if yours has been affected? What can be done about it? And how might it affect your vital buildings insurance cover? Statistics from the Association of British Insurers (ABI) show that in July, August and September last year, the number of claims for subsidence damage leapt to more than 10,000. That’s much higher than the more usual total of around 2,500 for the same three month period. Very hot summers create perfect conditions...

Why Bad Maths Could Cost You A Fortune

March 18, 2019 3:34 pm

You probably wouldn’t fall for the classic political trick of being challenged to put a price on a pint of milk. But have you ever given much thought to the value of your kitchen appliances? Have you seriously thought about how much it would cost to rebuild your home from scratch or even just the contents of your wardrobe? These may be numbers we are obliged to provide to insurers when applying for products like car and home insurance, but getting them wrong can have serious consequences. Research from price comparison website uSwitch shows that more than a quarter of...