Homeowners give thieves a sporting chance
by Richard Kilner
Story link: Homeowners give thieves a sporting chance
Specialist home insurer Hiscox has commissioned research which reveals that homeowners are exposing themselves by leaving valuable sports equipment, unsecured, in gardens and garages.
The goods, with an average value of £770, are left in gardens and car boots by 53% of the professionals surveyed.
More than a quarter (26%) also admitted that their gardens and outbuildings [...]
avantia provides non-standard home insurance
by Richard Kilner
Story link: avantia provides non-standard home insurance
avantia Insurance has launched a new homeprotect service after the viability of such a move was proved by its pilot project which provided instant online cover to non-standard buyers of home insurance.
Brokers and other providers have been invited by avantia to join the platform, with the aim of providing a one-stop shop and saving both [...]
Dog bites worry US home insurers
by Gill Montia
Story link: Dog bites worry US home insurers
The US Insurance Information Institute has reported that dog bites now account for more than one-third of all homeowners’ insurance liability claims, costing $412 million in 2009, the total having risen 8.7% on a year earlier.
Figures from the Center for Disease Control and Prevention show that more than 4.7 million people in the US are [...]
Long-stay holiday reminder on home insurance
by Gill Montia
Story link: Long-stay holiday reminder on home insurance
Britons taking extended holidays abroad are reminded that they could risk leaving their homes uninsured if they intend to be away for more than 30 days.
According to research from moneysupermarket.com, the small print on home insurance policies varies between providers, with some insurers only offering existing cover for unoccupied homes for a maximum of 30 [...]
L&G launches iPhone panic alarm app
by Gill Montia
Story link: L&G launches iPhone panic alarm app
Legal & General (L&G) has launched a personal panic alarm application for the iPhone.
The move has been prompted by research from the University of Leicester which suggests that criminals are increasingly favouring personal muggings over burglaries.
The trend is though to be connected to lower-priced home electricals, such as DVD players, which currently have little resale [...]
Top home insurance theft claim postcodes revealed
by Gill Montia
Story link: Top home insurance theft claim postcodes revealed
Research carried out by moneysupermarket.com has identified the top 20 hotspots for home insurance claims for theft.
While London households are the most likely to make a theft-related claim, with postcodes in the Capital taking half of the top 20 places, a Manchester postcode holds the top spot for the highest number of theft claims.
The analysis [...]
Virgin reminder on download cover
by Gill Montia
Story link: Virgin reminder on download cover
Virgin Money is reminding homeowners that not all home insurance policies cover digital music and film collections.
According to the media and finance group, CD sales decreased by close to 10% during the first half of 2010.
During the same period the online download market grew by 34%, meaning that music and movie fans are increasingly at [...]
Brokers come into their own as GI market hardens
by Gill Montia
Story link: Brokers come into their own as GI market hardens
1 Answer Network is urging consumers to put their faith in local brokers to find the best insurance deals, as a hardening general insurance market sees higher premiums and reduced benefits.
Insurers now need greater capital adequacy but are facing lower investment returns and a high incidence of claims, in some areas of the market.
The Network [...]
ABI: flood defences before spending cuts
by Gill Montia
Story link: ABI: flood defences before spending cuts
The Association of British Insurers (ABI) is urging the government to make investment in flood defences a priority, despite the squeeze on spending.
Speaking at the Local Government Flood Forum, the Association’s director of general insurance, Nick Starling, said a long-term flood prevention strategy, backed by the right level of investment, is crucial if homes, [...]
swiftcover.com to provide home insurance
by Richard Kilner
Story link: swiftcover.com to provide home insurance
Online car insurer swiftcover.com is branching out, and from 27th July will be offering a home insurance product it hopes will shake up the market.
The insurer offers a quick and clear quote generator, with potential customers provided with quotes only on aspects they wish to be covered, enabling them to escape being charged for items [...]
Insurers expose 2,300 fraudulent claims a week
by Gill Montia
Story link: Insurers expose 2,300 fraudulent claims a week
Insurers are currently exposing over 2,300 fraudulent claims every week, according to new data from the Association of British Insurers (ABI).
The figure has risen from a weekly total of 2,000 dishonest claims in 2009, worth over £16 million.
Last year, 122,000 fraudulent insurance claims were uncovered, up 14% on a year earlier.
By value, 4% of all [...]
Ex-burglars reveal all on home security
by Gill Montia
Story link: Ex-burglars reveal all on home security
Hidden keys, open windows, timid neighbours and Twitter all make life easy for burglars, according to research from MORE TH>N.
The insurer has taken the unusual step of consulting with reformed criminals to identify ways in which homeowners make themselves vulnerable, and 68% of those questioned said they collected information about their target’s home and routine [...]
Nine ways to save on home insurance
by Gill Montia
Story link: Nine ways to save on home insurance
Defaqto is promoting a number of ways in which to reduce the cost of home insurance without compromising on cover.
The research firm’s analysis of 297 buildings and 298 contents policies revealed that 19% of policies give a discount for online purchases via the insurer’s website, while 85% discount premiums when buildings and contents cover are [...]
Protect your bubble launches iPhone insurance
by Gill Montia
Story link: Protect your bubble launches iPhone insurance
Protect your bubble, which is an Assurant Direct brand, has launched a new iPhone policy and is claiming that the product costs less than half the price of iPhone insurance currently offered by some networks.
At £5.99 a month, the policy includes worldwide cover for accidental damage (including water damage) and theft, plus mechanical breakdown [...]
Fortis fine tunes household underwriting
by Gill Montia
Story link: Fortis fine tunes household underwriting
Fortis is claiming to be the UK’s first leading personal lines insurer to invest in a new suite of computer models that can predict the relative risk of claims for a number of insured perils across the country.
The Perils Insight suite from Business Insight can give a detailed perspective on the distribution of risk relating [...]
Fortis and AmEx team up on motor and household insurance
by Gill Montia
Story link: Fortis and AmEx team up on motor and household insurance
Fortis Insurance and American Express have announced a five-year strategic partnership to provide motor and household insurance products to American Express customer in the UK.
For Fortis, the agreement follows on from a number of significant new affinity deals during 2009 and will further complement its multi-channel distribution strategy.
The insurer’s UK managing director, Andy Watson, [...]
Only one in three home insurance policies automatically renewed
by Gill Montia
Story link: Only one in three home insurance policies automatically renewed
A new study from Vantage Research and Researchcraft suggests that half of all home insurance buyers are struggling in the current economic climate, resulting in only one in three automatically renewing with their insurer.
The majority of homeowners surveyed were open to the idea of switching provider, however, for many consumers specific aspects of service [...]
Chucked out TV packaging a marker for thieves
by Gill Montia
Story link: Chucked out TV packaging a marker for thieves
Churchill has advice for football enthusiasts who are proposing to buy a new television set to watch the World Cup.
According to the insurer’s research, 18% of households are planning on upgrading their TV for the spectacle, with 5% having already done so.
However, indiscretion over the disposal of the packaging can provide potential burglars with a [...]
Lloyds waives excess for victims of crime
by Gill Montia
Story link: Lloyds waives excess for victims of crime
Lloyds TSB Insurance has recently announced that it is waiving the excess on its Home Solutions policy for claims that involve criminal activity such as burglary, theft, malicious damage, riot or arson.
The new benefit involves no extra cost and applies to all Home Solutions policyholders until 31st May 2011.
Lloyds TSB Insurance spokeswoman, Paula Llewellyn, [...]
Plum puts growth plans into effect
by Gill Montia
Story link: Plum puts growth plans into effect
Plum Underwriting has announced a number of changes, as it pursues growth plans spanning the next two years.
The non-standard household specialist, which was formed in 2002, has relocated its main contact point for open market brokers from Haywards Heath to its London headquarters.
The move will help streamline operations and provide better access to decision [...]
