Sainsburys Bank home insurance division has found that just short of 10 million people are thinking of planting trees in their gardens this year and would like to warn them about the threat of subsidence.
The main advice given by Sainsburys Bank is to select a tree that will be of a suitable size for the garden and also to plant it a good distance away from the house. If homeowners do not follow this advice they may find an increased risk of subsidence and the need for an insurance claim. Leylandii and Willow are two of the most troublesome trees it has been found.
A Sainsburys Bank spokesman revealed that home insurance claims for subsidence have cost British insurers over GBP700,000 per day over the last 5 years. It is therefore important to be aware of the risks before going ahead with planting a tree.
According to Tesco Finance the cost of not changing home insurance companies last year totalled GBP26 million.
The study found that almost two thirds of people remained with their existing insurance providers when it came to renewal time, even though almost half of them saw the cost increase over the previous year. For around 4 million of them the increase was more than the level of inflation, said a Tesco Finance spokesman, even though only a small number of these had increased their cover or made a claim.
The advice that comes out loud and clear from Tesco is that everyone should at least get a couple of alternative quotes at renewal time to make sure they are getting the best home insurance deal available.
According to a recent study by the Halifax there is over GBP50 billion worth of jewellery in UK homes, with each house having just under GBP2,000 worth on average.
Although the average figure is around GBP2,000 there are around 5 million homes where there is over GBP5,000 worth of jewellery and surprisingly the Halifax has found that over a third of them have never had their items valued. This is an important aspect since valuables should be listed individually on home insurance policies to ensure they are covered.
Geographically the places with the most jewellery in their homes are Preston and Milton Keynes so they are urged to make sure they have their items valued said a Halifax spokesman. This way they will know their home insurance is doing the job it is supposed to do.
Find the best price on Halifax home insurance with a quote from Moneygossip.co.uk.
