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.
A recent study by Tesco Finance has looked at the damage we do in our own homes and found some startling results.
Children are one of the major culprits when it comes to damage around the home, racking up over GBP136 million worth of home insurance damage claims per year. Following on in value is the effects of alcohol, costing around GBP95 million in broken items and stains caused by spills. Following on from these is the damage caused by family pets, with a total of GBP87 million worth of damage every year from our faithful friends.
The biggest source of claims, for Tesco home insurance at least, is what they are calling horse play. Just messing around leads to a massive GBP325 million worth of damage and accounts for 25 percent of all contents insurance claims.
The age of 46 has been found to be the point where own the greatest value of possessions according to a More Than survey.
At this age we average just under GBP41,000 worth of possessions it has been found, with the next best age being 28, when the figure is a little over GBP33,000. However over half of us actually have no idea of the value of items they own, which is a pretty important point when it comes to arranging adequate home insurance.
For anyone wanting to work out their own possessions value More Than Insurance have very kindly added a calculator to their website that will do just this. So pop along and work out whether you have enough home insurance cover today.