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Home Insurance Customers Penalised for Loyalty

September 10, 2018 11:00 am

Which found that the average new customer to a policy would pay £195, whereas a continuing customer on the same building and contents policy would pay an average of £270 over the same time period, an average increase of 37%. The problem scales – the longer a customer stays with a firm, the larger the gap between what they pay and what a new customer would pay.  For instance, if a homeowner stays with a company for 20 years, it is estimated that on average they will pay double that of a customer in their first year on the same...

Cracking summer: UK insurers expect rise in subsidence claims

August 27, 2018 12:00 pm

Several big-name insurers have said subsidence incidents are up 20% on this time last year. Insurers are bracing themselves for a spike in subsidence claims after this summer’s heatwave led to cracks appearing in walls across south-east England. Several big-name insurers have reported that subsidence incidents are up 20% on this time last year. The fear is that that those returning from holidays will see fresh damage and in September there will be an influx of substantial claims. Heather Smith, the managing director of LV’s general insurance business, said: “Homes across the UK have certainly been suffering as a result...

Devastated family whose house burned down on New Year’s Day dealt second blow as insurers say policy is void

August 13, 2018 10:56 am

The Andrews family woke up on New Year’s Day to find their Somerset home engulfed in flames A family whose home was ravaged by fire on New Year’s Day have been dealt a second devastating blow after their insurance company declared their policy void. Carey Andrews lives at Syles Farm in Henstridge Marsh, Somerset with her mother Gaynor Pearson and her brother Theodore. So far 2018 has not been an easy year for the family. They woke up on January 1 to find their precious home – where they have lived since 1993 – engulfed in flames. Although fire crews extinguished the blaze the...

The Most Common Reasons Your Insurance Claim Could Be Rejected As Revealed By The UK’s Biggest Insurer.

July 30, 2018 10:54 am

When you mention insurance to someone, the reaction is rarely positive and for most people it’s seen as a grudge purchase, something they don’t want to spend money on and don’t think they are likely to use. In fact, 55 per cent of consumers believe insurers will always try and wriggle out of insurance claims, fuelling their resentment of the industry. However, the UK’s biggest insurer, Aviva, says this is a myth and it paid out 96 per cent of claims in 2017 across its individual and commercial customers. It’s now urging UK insurers to debunk this myth to show that...

Home Insurance Costs Rise By More Than 20% In The Past Two Years.

July 16, 2018 10:51 am

Home insurance costs have jumped by 21% over the past two years, after hikes to insurance premium tax and the introduction of flood re-insurance scheme Data from April indicated that the average cost for buildings and contents insurance stands at £161 per year, rising from £133 in April 2016. Chris King, head of home insurance at Compare the Market, said: “With recent research finding that over five million UK households do not have home insurance, the continued rise in the cost of home cover will be a blow to the millions that can’t afford it. Home insurance should be considered...

Why It Makes Sense to Purchase Legal Expenses Insurance

July 2, 2018 12:22 pm

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...

Reasons Why Insurance Claims May Get Rejected

June 18, 2018 12:22 pm

If there is even the slightest discrepancy in the information that the policyholder has provided, the insurer will be well within it’s right to reject any claim that is raised under the policy. Homeowner’s insurance is cover for your home (the building, not the contents). Remember that the insured value is not what you could get if you sold your property; it is for the cost of replacing or rebuilding your home at today’s values. Listed are some of the reasons claims are rejected. A peril you are not covered for caused the loss. If your loss was the result...

Young People Most Likely To Go Abroad Without Insurance

June 4, 2018 12:20 pm

  About 40%  of young people go abroad without travel insurance, risking medical fees of thousands of pounds if they are taken ill, a survey suggests. The Association of British Travel Agents surveyed 2,043 Britons and found those aged 18 to 24 were the most likely to go abroad without insurance. It comes after the family of a South Yorkshire traveller in Thailand had to raise £32,000 for his medical care. Overall a quarter of UK travellers are thought to go abroad without insurance. In 2015, 35-year-old Craig Lindley, from Barnsley, fell ill while celebrating a friend’s wedding on a...

One Bike Stolen Every 6 Minutes in the UK.

May 21, 2018 12:24 pm

Almost 100,000 bikes were reported stolen last year, new figures show, amounting to a quarter of a million since 2015. The figures by Direct Line insurance show thefts have risen by 17% over the past 12 months, with more than £22million having been claimed on insurance over the past three years. The most common types of bikes targeted by thieves are mountain bikes, making up nearly half of all thefts over this period. Hybrid bicycles are the next most popular for criminals, accounting for just under a third of thefts, followed by road bikes. Bike theft in London is increasing...

10 Things That Could Void Your Travel Insurance, just what will they pay for?

May 7, 2018 12:20 pm

Excessive alcohol consumption, failure to take recommended inoculations, reckless or illegal behavior and travel paid for using loyalty schemes could all cost you dear You must read the conditions and exclusions in travel insurance small print to ensure that you buy the right cover at the right price and do not unwittingly invalidate your cover. Exclusions and conditions vary between policies but common ones include claims made as a result of excessive alcohol consumption, fighting (except in self-defence) and taking part in activities insurers deem ‘hazardous’ such as jet skiing, quad biking or diving. Common conditions and exclusions can include...