An agreement regarding flood insurance between the government and the Association of British Insurers has been supported by AA Insurance.
The agreement will ensure there is a much better understanding of the risk of flooding in different areas as well as improving the accessibility to home insurance for households on low incomes. There will also be changes to the planning system said A Insurance to ensure developments are not placed in areas where the risk of flooding is high.
A spokesman from AA Insurance said that providers of home insurance, like themselves, are well aware of the greater risk of flooding that faces the UK and are structuring their premiums accordingly. Although the premiums will be higher than previously the good news is that cover will still be provided, something that was a concern previously when it was suggested some areas would be uninsurable.
A fascinating fact about the music festival season is that three out of four people attending them lose possessions while there according to Zurich Insurance.
The study carried out by Zurich found that the typical value of items taken to music festivals by people is over GBP260. The most commonly taken possessions include mobile phones, cameras and MP3 players. The majority of items that go missing are simply left behind, in tents or in bags, with only 10 percent of them being stolen.
Good advice from Zurich Insurance is for festivalgoers to check with their home contents insurer that they will be covered at the festival they are attending. This way at least the financial aspect of losing personal possessions will be dealt with.
According to a recent survey conducted by Santander over 40% of homeowners who took out a home insurance policy did not read their insurance agreement before taking out a policy.Homeowners that do not read the full terms and conditions of the contract run the risk of being under insured, as they are not fully aware of what their insurance cover actually covers.Research has shown that some policyholders who thought that they were covered for a particular level of coverage like accidental damage, were in fact not covered at all, and face the expensive task of replacing the items at their own expense. This of course could have been avoided had they read the level of cover included on their insurance policy. All homeowners want the best level of cover at the cheapest price for buildings insurance and contents insurance, but they must check to see that the cover meets their insurance needs before taking out a policy. Not all policies are the same and that is why it is so important to read the terms and conditions very carefully making sure that it does in fact meet the right level of cover to protect their home and their possessions.See our home insurance comparison table for more information or our guides and tips pages.
