Insurance News

Have you ever heard of a crime map? If you have yet to hear about one or see one then you are missing out really. You can access them online and see exactly how many crimes have been reported in your area. It is quite amazing really that such data can be correlated within an individual postcode or localised area. Needless to say, they have been used by many individuals looking to buy or rent a house as a house hunting tool. However, they have also had a rather bad effect on crime.

How would a crime map affect crime? Well, it hasn’t directly as such. The crime rates have been largely unaffected by it in real terms because they do nothing to deter the perpetrators of burglary or violent crime any. However, they have had a profound effect in terms of the reporting of crime. Homeowners have neglected to report numerous crimes by all accounts to prevent their house showing up on crime maps should they choose to move or rent out their property. Unfortunately, this has shown a false decrease in crime levels in certain areas and has also proved to be a little problematic for home insurance companies.

If you have been the victim of a crime and have tried to claim on your home insurance then you will know that you have to have a crime number in many cases for your claim to be processed. However, if you have no crime number because you have not reported it then you may not be paid for your claim at all. This is doubly annoying because it may still show up as a claim on your home insurance. This, in turn, would put your premiums up without any peace of mind for you.

It has been estimated that the number of people not reporting crime is around 5.2 million people. Of those 75% have ignored crimes like vandalism, drug dealing and other similar offences whilst 42% have not reported vehicle theft or defacing and 11% ave not reported violent crime. This not healthy for anyone because victims do not get what they deserve and those looking to buy or rent do not have an accurate picture of the area that they are moving to. As such, the advice is to use any home insurance you have when you need to. Worrying about the future in any way could prevent you from enjoying life, and the peace of a mind a good policy gives you, now.

Have you ever wondered how home insurance premiums are calculated? A lot of people do but very few actually find out the answer. Well, I’m about to let you in on a little secret. Although I cannot tell you exactly how premiums are calculated because the insurers rarely reveal such secrets, I can tell you some of the factors that make a difference. For example, there are reasons why your premiums will be lower if you live outside the city or town. Rural dwellers are perceived as having distinct advantages over urban dwellers when it comes to home insurance premiums and this is no new thing. In fact, it is pretty old. This relates directly to crime rates, which are notably higher in towns and cities, as well as the enhanced value of properties. However, all homeowners will have found that their premiums for home insurance have gone up recently regardless of where they live. This is thanks to the surcharge many insurers are adding onto the total to cover… (drumroll please)… terrorism!

Yes, you read that correctly. Many homeowners’ buildings insurance now incorporates a surcharge that is designed to cover any act of terrorism. As many people have claimed as a result of it since 2005, terrorism is becoming a major part of life, no matter how much we wish the opposite were true. Of course, any incidence of it is very rare but that has not stopped insurers making provisions just in case.

The average charge added to home insurance premiums has been determined at in excess of £60, which may not sound like a lot when it is broken down into £5 a month and this is often how it is packaged, but it soon adds up. It is not optional in many cases either but has simply been added because insurers have been compelled to pay out in the event of terrorism despite the fact that their terms and conditions often state that they will not pay out for that very reason.

Although some providers do offer such cover as optional, thus giving you the chance to decide whether or not you want to have that protection, many just added the premium on to that you would normally pay without telling you. Yes, we are all worried about terrorism but we should know exactly what our home insurance covers us for rather than just covering the cost and having no idea what we are paying for.

Home insurance is considered to be a must in your financial portfolio these days if you want to protect your interests. Far from being cover against crime, which was the major line of thinking a few years ago, it is now perceived as the ultimate all round policy. Offering protection against unfortunate activities that have occurred more and more often in recent years, it covers your home against damage caused by snow, ice, high winds, subsidence, flooding and other such natural events that can cause thousands of pounds worth of damage. As a result, it can help you to get your home back into full working order after a minor or major setback in terms of the structure of your home, but what about dealing with an emergency as and when it arises? After all, home insurance is designed for after the fact and not during.

Well, I’ve mentioned home emergency cover before and the fact that it is a good idea to consider it as an extra if you do not have it in your regular policy. After all, it can save you considerable money. Paying an emergency fee for a gas expert when a boiler has stopped working can be a real struggle for your average family whereas paying a monthly nominal fee can really ease the burden and get your boiler up and running again in no time… or can it? There have been recent reports of a certain well known gas company offering poor service on their emergency home cover, which is not a part of any comprehensive home insurance policy. In fact, one person has revealed that he was left with immense damage as a result of the emergency response, including damage to the liner and irreparable mistakes on the boiler itself. Although the company has now vowed to put it right, it does make you wonder whether it is worth it or not.

Well, there are ways and means around this. If you do decide to get emergency home response in addition to your home insurance policy then check out consumer reviews in advance because dissatisfied customers will tell you all about their experiences. You should also check their credentials in terms of what they ask from their employees because some may offer a well known name but do not have stringent enough requirements for employees. In short, compare compare compare until you are completely happy with your choice. You cannot put a price on peace of mind!

Subsidence is undoubtedly one of the worst nightmares that a homeowner could ever encounter. Causing property to shift and thus undermining its foundations and causing major structural damage over an extended period of time, it can create the need to pay thousands to get issues corrected and could even prevent your home from selling when you decide that it is time to move on. As you can imagine, it is also a major problem when it comes to insuring your home, whether you are looking for contents only or combined buildings and contents., but read on to find out why the summer of 2011 may put far more people into the worried category than previous summers.

As a direct result of the appalling weather we have had in the UK – the snow and ice, the torrential rains in some areas and the drought conditions this summer – many homeowners who have no previous history of subsidence are now facing major problems when it comes to the earth literally moving under their feet. In fact, 2011 is shaping up to be the driest year since 1990 and the year-on-year soil moisture deficit is greater than that of 2005, the year that last saw a significant number of home insurance claims for subsidence.

Home insurance companies have warned that significant claims for subsidence will see the cost of home insurance policies increase substantially next year, with homeowners in the south-east and London being particularly hit because of the   plasticity of the clay soil that is prevalent in those areas. However, if you have yet to even consider home insurance then now is definitely the time because you never know when you may need it.

The outlook for home insurance is not really looking that good at the moment in terms of the number of potential hazards that are cropping up, from flooding to freezing to subsidence but it just goes to show that you cannot afford not to have it in place. There are so many expensive problems out there at the moment and it could cost homeowners an absolute fortune to sort them out on their own. With plenty of deals currently available, it is time to start building up the no claims bonus by taking out an effective policy that works for you as well as giving you peace of mind. It is certainly worth the effort so why not take the time to compare policies today?

Quick quiz – hands up who’s guilty of leaving garden items out overnight because you have forgotten to put them away! Now hands up who’s guilty of leaving garden items out overnight because you have yet to sort out the shed to put them back in. Now hands up who’s guilty of leaving garden items out overnight because you will need them in the morning and think it’s fine to leave them where they are. Finally, hands up who’s guilty of leaving garden items out overnight because you just cannot be bothered to put them away. Whether you put your hand up once or four times, you are also guilty of risking a claim on your home insurance.

12% of all homeowners have expensive sports equipment that is stored in an unsecured area outside or is left in the open air during the summer, whether said homeowners are out or in bed. Either way, it gives thieves the perfect opportunity to take full advantage. Now, some home insurance companies will offer cover to items on your property, meaning within your property boundaries, but others offer that items have to be secured before they will pay out. In fact, the vast majority of insurers fall into the latter category.

Of course, there are other considerations in terms of home insurance and outdoor items that actually have decent values attached to them. This includes items like sculptures, fountains and table and chair sets. Of course, there are more items in the list than those given here but you get the idea. Covering these items under your regular home insurance is not usually possible but many insurers do offer extra cover that will protect them and give you peace of mind. The problem comes in that many people either fail to take out that cover or do not get a level that is suitable and this can leave you considerably out of pocket.

Home insurance is a rather tricky area of financial services to navigate today because there is so much to think about. There is no longer accidental cover in many cases, unless you pay extra of course, and there is often small print that excludes a variety of other elements, such as pet damage, items in an unsecured environment, failure to secure the home and so on. As such, you have to be absolutely clear as to what you are covered for and when you are covered.

The summer music festivals are very nearly upon us and many of you who already have tickets for them are no doubt counting down the days until you pack up your tent and head off to a field in the middle of nowhere to listen to some of the best bands, artists and tunes around today. So have you got everything you need? Clothing? Check! Tent and sleeping bag? Check! Gadgets? Check!

Well, the latter on this list may very well not be on your “to bring home” list! Not if the criminals have their way anyway.

The police have already started to warn those going to festivals that they may be the target of criminal elements who go specifically to pick pockets and steal valuable items like iPods, iPads, laptops, mobile phones, jewellery, cash and anything else you may have that has a cash or resale value. If you are already aware of this particular threat and think that it will not happen to you or, alternatively, that you are already covered under your home insurance then you may well be wrong. 14% of people that go to festivals end up losing significantly expensive or important items through theft or accidental loss. However, only a fraction of them are able to claim. Why? Because they have no idea what they are covered for.

The most basic home insurance only covers you for items within the home but more advanced policies will offer you cover outside of it. However, you need to read the small print to see what you are covered for and several questions to be asked.  For example, you should ask whether or not expensive gadgets are covered at all, whether items are covered outside of the home, how much you are covered outside the home and whether or not you are able to claim should you leave valuables in a tent or other such structure without any locks. All of these questions completely valid and worth asking.

So what if you should find that your home insurance will not cover you at a festivals? Well, you have two options. You can take out a standalone policy that will allow you to cover your belongings for a short period of time or you can contact your home insurance provider to see whether they will offer you extended cover for an extra fee. Some do allow you to do that and so will provide you with the peace of mind you need. Either way, be aware of the threat of crime this summer.

Do you have home insurance and separate home emergency cover? If you do then you may need to check your paperwork to see who covers you because, according to a Guardian newspaper report, Homecall+ went bust a week or so ago. Previously one of the leading providers of home emergency cover, its demise has left its thousands of customers without the protection against emergencies that they thought they could rely on. If you are one of them then you absolutely need to check out your options and consider whether or not you should get even more cover or simply drop the emergency protection for good.

If you do feel that you need to take out emergency cover then you have several options. It is a valuable product because annual premiums of a couple of hundred pounds at the most could prevent a bill of thousands for a flood, broken boiler or other emergency situations. However, you may or may not know that some home insurance companies offer it as an extra on their regular policies. It will of course increase your premiums and you should check the features that it has but, all being well, it could offer you that peace of mind that you need.

So what should you look for in the emergency element of home insurance? Well, it must be an extra that offers a 24 hour helpline because you never know when things will go wrong and limited access to such a service may be useless if water starts leaking through your ceiling in the middle of the night. It must also offer you local tradesman within a reasonable period of time. This is usually an hour or two but any more than that, again, is not really an emergency response service. Let’s face it, if a well known trades service offers emergency response in no less than three hours then an insurance service should too.

Finally, you should compare a range of home insurance and home emergency insurance quotes before taking out your policy. This is to make sure that you not only have the best features available to you but also the best premiums. It is worth checking whether it is cost effective to get standalone cover or not, and always check out reliable consumer reviews. They will give you an excellent idea of just what to expect from your new provider. You should always know exactly what to expect!

The sun is shining and summer is finally well on it’s way. After the terrible weather of the winter, it is no wonder that people are rejoicing as a result of this wonderful fact. According to my Facebook news feed, many of my friends are also looking forward to going on their hols in the very near future. Some are counting down with “17 days to go!” type statuses every morning whereas others are celebrating by telling everyone what wonderful destination they are heading off to. There are even those that tell me how much they are enjoying their holidays whilst they are on them!

Yes, I may be jealous but at least I am no thief because I’d be having a field day with the information they are giving me!

I would know exactly who is away, exactly where they live and exactly who is checking in on the house and when if I cared to pay attention, which I don’t. However, there are those people out there who love social networking sites for this very reason. They check in to see who their next victim can be because it saves them an awful lot of trouble.

One of my friends actually put this as her status a few days ago: “Don’t brag about where you’re going on holiday and then moan when you find your house burgled when you get back! Serves you right!” A little heartless maybe but it is also completely true. If someone breaks into your home when you are away then that is bad luck but it is also self inflicted if you put when you will be away on a site that has millions signed up to it. Loose lips have cost many families through loss of their personal goods but it is also costing the home insurance industry millions too, and the rest of us are paying for it with increased premiums.

Home insurance is designed to cover theft under normal circumstances but many companies are now also planning to put clauses into their contracts stipulating that a disclosure of a home being empty on a social networking site will invalidate cover as a result of owner recklessness. As such, you should begin to think about what you are putting on Facebook and Twitter and whether or not it is a good idea to let people know you are away. Surely it is better to boast when you get back and are safe in the knowledge that your home is exactly how you left it?

Did you know that there are 15,000 self-build projects in the UK every year? I didn’t either and I can’t quite believe that this number of homeowners actually undertake their own home build project. There must be nothing better than literally building your own home, your dream home. However, there are also significant problems associated with it. Not only may you struggle to get funding but after the build is complete you may also find it difficult to get home insurance.

Or at least you may have found it difficult to get home insurance in the past. A top insurer has recently released a new self build home insurance that offers cover to those that have built their own homes and had the relevant safety checks performed. Even better, you can get quotes for and buy it online so it need be no more difficult than regular home insurance. Now there is no excuse not to protect your investment.