Homeowners need to guard against burglary
by Richard Kilner
Story link: Homeowners need to guard against burglary
A survey carried out by Zurich Insurance has revealed that homeowners are not doing enough to protect themselves against burglary.
Of the 1,000 surveyed, 10% stated they had broken into their own property, with 32% claiming they would be able to do so.
Two-thirds of those who had broken in had managed to do so in under […]
Amateur chefs bump up household claims
by Gill Montia
Story link: Amateur chefs bump up household claims
Esure, the online provider of home insurance, has noted a new trend in claims involving mishaps in the kitchen.
Since celebrity chefs tried to educate the nation and the blow torch moved in alongside the potato masher, amateur chefs have been getting into trouble.
According to the research, 14% of those questioned had experienced an accident […]
AA: premiums not yet hit by flooding
by Richard Kilner
Story link: AA: premiums not yet hit by flooding
The widely tipped surge in cost of car and home insurance premiums has yet to appear, according to the AA British Insurance Premium Index.
Car insurance premiums rose by 6% over the course of a year, but most recently have recorded a modest decline.
The present average cost of comprehensive car insurance is £682, £37 higher than […]
A third of retirees move house
by Richard Kilner
Story link: A third of retirees move house
Almost a third of retired people are forced to move, according to new research conducted by Saga Home Insurance.
The home insurer believes that a strong reason behind the research’s findings is the soaring cost of living, with food and energy costs rising particularly quickly.
Saga also found that 38% of retirees discovered that their actual financial […]
£173m damage caused by DIY
by Richard Kilner
Story link: £173m damage caused by DIY
Halifax Home Insurance has conducted research which reveals that DIY causes £173m of damage to the homes of neighbours annually.
The research showed that 590,000 failed efforts at DIY caused some degree of damage to neighbouring properties, creating a typical bill that can run into hundreds of pounds.
The destruction varied from walls tumbling down to damage […]
Insurance costs more in Islington
by Gill Montia
Story link: Insurance costs more in Islington
A study by EMB, the actuarial consultancy, has concluded that the London borough of Islington has become the most expensive locality in the UK in which to insure possessions.
EMB has calculated the average annual combination of motor, buildings and contents premiums for the 10 “worst” and “best” places to live in the UK, in terms […]
ABI demands 25-year flood risk strategy
by Gill Montia
Story link: ABI demands 25-year flood risk strategy
The Association of British Insurers (ABI) has published its Summer Floods 2007 report in which it calls on the Government to develop a 25-year strategy to manage flood risk in the UK.
The ABI believes the strategy should be the responsibility of a single national body, which should develop an investment programme and stronger planning controls.
The […]
Spike in burglaries expected as clocks spring forward
by Richard Kilner
Story link: Spike in burglaries expected as clocks spring forward
Saga has advised homeowners to be on their guard against burglary, as the rates of the crime rise during the period when the clocks go forward.
Paul Green, Saga’s communications chief, explained that the reasoning behind the crime increase is thought to be that lighter evenings make people feel more secure.
Green went on to say that […]
10,000 flood vicitms wait to return home
by Gill Montia
Story link: 10,000 flood vicitms wait to return home
Research on the victims of last summer’s floods by BBC’s Radio Five Live, asserts that over 10,000 people have not yet returned to their homes.
Figures from local authorities across England show that over 5,000 households remain in temporary accommodation but the actual number could be greater because the authorities may not be aware of all […]
25% of Britons lack home contents insurance
by Richard Kilner
Story link: 25% of Britons lack home contents insurance
According to Confused.com 25% of all homeowners lack home contents insurance.
The vast majority of homes now have goods that are of significant value, such as plasma televisions, computers, games consoles and so on, which makes the high figure even more surprising.
A typical family of four could need to spend only £43.98 per week to insure […]
Easter to see rise in DIY claims
by Richard Kilner
Story link: Easter to see rise in DIY claims
Over the course of Easter DIY mishaps are forecast to cause £25m worth of damage, according to home insurers.
The prediction is based upon previous experience, when the break has been seized upon as a time to attempt DIY projects, only for more harm than good to be caused.
Home insurers typically see a spike in claims […]
Flood overtakes heat as major UK insurance risk
by Gill Montia
Story link: Flood overtakes heat as major UK insurance risk
EMB, the actuarial and business consultancy, has reported that flooding is now the major “act of nature” risk to the UK insurance industry.
According to research carried out by EMB through the country’s leading insurance companies, the hazard has moved into first place ahead of heat and wind.
Prior to 2007 UK insurers were dealing with […]
Rise in weather-related complaints keeps ombudsman busy
by Gill Montia
Story link: Rise in weather-related complaints keeps ombudsman busy
Complaints received by the Financial Ombudsman Service (FOS) about weather-related insurance claims increased by one-third in 2007.
Since last summer’s flooding, insurers have been under pressure to deal with both the volume of weather-related claims and the financial losses incurred.
The 2007 floods are estimated to have cost the industry £3 billion, while claims from February’s earthquake […]
MarketGuard to launch mortgage interest-rate insurance
by Gill Montia
Story link: MarketGuard to launch mortgage interest-rate insurance
MarketGuard, the derivatives trading company, has announced plans to launch the first interest-rate insurance product this year.
It will cover homeowners against rises in their mortgage payments resulting from a hike in the Bank of England’s base rate.
The standalone interest rate insurance (Sari) works by covering a mortgage holder against rises in the base rate […]
Homeowners urged to get garden coverage
by Richard Kilner
Story link: Homeowners urged to get garden coverage
According to new research conducted by Nationwide, 35% of homeowners value their garden contents at between £250 and £1,000.
By definition, garden contents are almost always exposed and not under lock and key, and therefore it is vital that homeowners have the proper insurance should thieves strike.
Nationwide provides insurance of up to £1,000 for garden contents. […]
Widespread lack of proper home insurance
by Richard Kilner
Story link: Widespread lack of proper home insurance
The effects of the recent storms that have struck across the UK may be exacerbated by the high proportion of homeowners who lack the proper insurance, according to fresh research from Sainsbury’s Home Insurance.
There are over one and three-quarter million people in the country who lakc buildings insurance, the research reveals.
Surprisingly, over half a million […]
Storms rage as 1.78 million forego buildings insurance
by Gill Montia
Story link: Storms rage as 1.78 million forego buildings insurance
This week could see some homeowners in desperate financial straits because their properties are not insured.
As severe storms affect large parts of the country, research from Sainsbury’s Home Insurance suggests that 1.78 million homeowners are without buildings insurance, with a further 656,000 people not certain whether they have the cover in place.
According to the research, […]
Insurers braced for Atlantic storm claims
by Gill Montia
Story link: Insurers braced for Atlantic storm claims
While insurers are still receiving claims for damage caused in last month’s earthquake, an Atlantic storm is raging across southern Britain.
Winds of up to 80 mph are forecast and the Environment Agency has issued seven flood warnings around the Cornish and Devonshire coasts.
Graeme Leitch, public weather assurance manager at the Met Office, says: “Westerly severe […]
Precious metal prices leave jewellery lovers underinsured
by Gill Montia
Story link: Precious metal prices leave jewellery lovers underinsured
The soaring price of gold and other precious metals could leave some jewellery lovers underinsured.
Household insurers are urging their customers to check the contents of their safes and jewellery boxes to make sure they have adequate cover.
The recent turmoil on the global financial markets has pushed the gold price through several psychological barriers and predictions […]
Launch of Islamic insurance business
by Gill Montia
Story link: Launch of Islamic insurance business
A new insurance business set up to comply with Islamic beliefs has appointed Capita, the outsourcing company best known for operating London’s congestion charge, to provide backoffice functions.
From April, Capita will sell car and home insurance products for British Islamic Insurance Holdings.
The initial launch will be followed by life insurance, investment, savings and ethical financial […]
