According to Sainsburys Bank around 20 percent of UK homeowners are planning major changes to the structure of their properties in the next 12 months, though how many of them realise they should tell their insurer is another matter.
Around a third of those planning their home improvements were nor aware that their insurer should be made aware of the changes. Logically it makes sense since home insurance uses the information provided by the owner to determine the policy cost. If someone then adds on a new kitchen and conservatory for example the insurance company, be it Sainsburys Bank or another, would need to know the changes to make sure they are insured.
It is perhaps easy to forget about home insurance, said a Sainsburys Bank spokesman, since it is not visible and covers the house, but property changes really can change the value of the property and the amount it needs to be insured for. For this reason property owners should advise their insurer of the changes and save themselves problems in the future.
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.
Direct Line home insurance will now include an automatic 10 percent increase in the level of cover for contents around the time of a wedding.
The extra contents cover Direct Line insurance offer is for the period 4 weeks before and after the wedding itself and is designed to offer peace of mind for all the extra items that will be there in the build up to the big day and of course all the presents afterward. The fact that there will be more people around and a greater risk of accidental damage is also critical.
For anyone interested in this aspect of contents cover it is the Direct Line Home Insurance and Home Insurance Plus policies that both feature this additional benefit.
