Three new home insurance policies have been introduced by Tesco Finance, providing differing levels of protection to suit the needs of the user.
The entry level policy, called Value insurance, covers essential items only but costs around a third less than the Standard insurance package. This is being described as an upgraded version of the original Tesco home insurance policy. As well as offering the levels of cover existing customers will be familiar with it also includes an extra GBP10,000 of cover and there are no compulsory excesses.
The third home insurance policy introduced by Tesco Finance is called Finest and is a very comprehensive package, including ID fraud protection, home emergency support and buildings cover of unlimited value.
AA Insurance has asked the government to continue investing in flood defences as well as suggesting local councils should not approve building in high risk areas.
The floods of last year were exacerbated by the inability of the drainage systems to take the water away, aspects that the government can have a big say in. Around 180,000 claims were made last year following the floods said AA Insurance, costing insurers some GBP3 billion. There were also many people without home insurance who suffered as well, highlighting the need for both buildings and contents insurance to protect the most valuable assets people have.
Looking to the future there may be a situation where insurers like AA Insurance and others refuse to cover people for flood damage unless steps are taken to improve the defences available. Such a scenario would be a nightmare for homeowners of course. An alternative may be higher premiums, though the increase would be large in order to cover the potential risk, again leading to many consumers being unable to afford the cover they need.
A study commissioned by Barclays Insurance has looked at the most popular small businesses across the UK,a key element for home insurance since a number of these businesses carry out repair work or provide new products.
For those suffering a plumbing related incident that needs attention, whether on the home insurance policy or not, Norwich is the place to be since there are more plumbers there than anywhere else in the UK. Barclays Insurance also found that Essex is the best place to find an electrician.
As a spokesman from Barclays Insurance explained, it can sometimes be difficult to find a tradesman for an insurance quote or repair, though in some places it is more difficult than others. The key point is that tradesmen are a vital part of the UK infrastructure.