In the News: Home & Contents Insurance Special

House Icons Shows Selling Real EstateTech Savvy Teens

In the not too distant past the most expensive thing you could find in a school satchel was a simple Casio calculator the size of a house brick. However, today’s teens are turning-up at the school gates with electronic gadgets that add up to an average of £130. Research by a leading insurance price comparison site has found that nearly 50% of schoolchildren take a mobile phone to school (often hand me downs from older siblings and parents) and 8% regularly take tablets to work on.

Teenagers generally aren’t known for looking after their possessions (if you need proof just look at the state of the average teenage bedroom); so it’s important to make sure that their electronic gizmos are completely covered. Get in touch with your home insurance provider and ask if your policy extends to your children’s tech outside the home and if there are any Terms & Conditions you should know about.

Flood Premiums Rise

Autumn can be an anxious time for homeowners living in flood risk areas and one Somerset resident has been left aghast to find his insurance premiums rising faster than the floodwaters. John Bowden of Burnham-On-Sea was shocked to find his insurance renewal quote rise by an eye-watering 2,800% from £220.18 to £6,144.42.

The hapless homeowner commented “I am shocked to have received this because the village hasn’t been flooded here for 35 years and even then it was nothing like last winter’s floods on the Somerset Levels, which are miles away”.

Eventually Mr Burnham found a company that would insure his home for less, which just goes to prove that brokers can find better deals than computer programs. Using a specialist insurance provider, who will treat you as an individual rather than a postcode, can unlock some great deals and what’s more a professional broker will do all the hard work for you.

Home Insurance Liars

There’s a dividing line between telling ‘little white lies’ and telling ‘big fat porkies’, but it’s one that nearly 20% of homeowners cross in a bid to get cheaper insurance. A recent survey found that one in five admitted being ‘economical with the truth’ in an attempt to get cheaper home insurance premiums.

Nearly one third of the households polled thought that telling fibs was ‘no big deal’, but they couldn’t be further from the truth. Not only are you likely to invalidate your policy and have any claims rejected, but it’s also a form of fraud.

Lying about whether you’re in a Neighbourhood Watch Scheme, or whether you’ve got the right type of door and window locks, can leave you seriously out of pocket. So when it comes to finding the right home insurance honesty really is the best policy.

Student Contents Cover

Starting a new academic year is a busy time for students; so it’s understandable if arranging contents insurance slips down their ‘to do’ list. A report has revealed that one third of students don’t have any contents insurance, but perhaps more worryingly an unlucky 13% didn’t know whether or not they were covered. And these are our country’s future leaders!

Students are heavily reliable on technology (for both work and play) and most own a laptop, a smartphone and an mp3 player. The average student in university accommodation owns £2500 worth of kit ranging from electronic hardware to books and bikes.  Clearly contents insurance makes smart financial sense; especially if you consider that student lifestyles can sometimes be slightly ‘chaotic’.

Accidents that Add-Up

Everybody knows that accidents can and do happen, but you might not know that they add a whopping £8 million to our home insurance premiums. The boffins at one leading insurance company have been busily crunching the data of 2.8 million homeowners to discover that 51% of claims are completely avoidable.

It seems that British homeowners are rather accident prone with 32% of all claims being for accidental damage. Other ‘avoidable’ claims that add to our premiums include: theft where doors and windows have been left unlocked, ‘escape of water’ such as overflowing baths and weather related claims made worse by poor maintenance.

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