There is a new home insurance offer from Nationwide Building Society, with a 20 percent discount when both contents and buildings cover are bought together. The discount is also applicable to the following year too if they are renewed together.
This Nationwide Building Society offer is open until the end of July 2008 and is being put in place to reward their customers for their loyalty during what are some trying financial times. The home insurance also includes provision for temporary accommodation, garden contents cover and students belongings protection.
A Nationwide Building Society spokesman said that the organisation believed in providing long term value and quality, with this offer underlining this belief.
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Results from a recent Sainsburys Bank survey show around 4.7 million adults in the UK are without home contents insurance cover.
The most insured area in the UK is Yorkshire and Humberside, where 96 percent of people have contents insurance. This contrasts with London, the least insured place in the country, where only 78 percent of people have cover. Sainsburys Bank urge people without home insurance to get cover as it offers peace of mind and financial cover for what can end up as a significant sum.
With regard to the reasons for not having contents insurance the main reason given was that it simply was not required. This was followed by it being too costly. A Sainsburys Bank spokesman suggested these people should firstly tot up the value of their possessions and then check online to see how inexpensive home contents insurance can be.
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.
