Insurance Explained

Understanding your insurance – what are “named perils”?

Understanding the jargon the insurance industry uses when defining insurance products can be somewhat difficult. One of the key terms used in house insurance is ‘named perils’, and it’s useful for those seeking home cover to understand what this means. Defining ‘named perils’ Some home insurance policies provide more limited cover than others, and are…

Do you understand the small print?

We all know the small print is important, but hands up who actually bothers to read it? At least one-in-twenty (5%) admitted in a recent survey that they never read terms and conditions. Just under one-in-seven (15%) either don’t bother, or sometimes read them, but for less than a minute. Only one-in-four (25%) say they…

Wedding insurance – should you say “I do”?

If you’ve spent a small fortune on your wedding, could you afford for things to go so wrong it has to be cancelled without having any insurance cover in place? With the average spend on a wedding hitting £25,000 last year, according to wedding website, you might be taking a huge financial risk by…

Insurance tax increase

What the insurance tax increase means for you On the 1st of June this year, 2017, the tax that the Government applies to most types of insurance policies, such as for cars and homes, is increasing by 2%. Insurance Premium Tax (IPT), as the levy is known, has risen quickly in recent years as it’s…

Insurance renewal: what’s important to you?

New rules regarding the information insurers must provide when a policy comes up for renewal reflect the paramount importance placed on price by consumers, latest research shows. New renewal rules The legislative changes, which came into effect in April, mean that insurers must now remind customers of the cost of the previous year’s cover, and…

What regulatory changes mean for consumers

New policy rules benefit consumers, but beware price mismatch New rules regarding the information insurers must provide at policy renewal time should be of significant benefit to consumers, latest research from the insurer Policy Expert shows. The changes, which came into effect this April, mean that when insurance policies come up for renewal customers have…

Government’s Insurance Premium Tax to rise

In this year’s budget the Chancellor announced an increase to Insurance Premium Tax (IPT), from 9.5% to 10%. This means that after the 1st of October the tax paid by consumers on most types of insurance will go up.   Some cover types are exempt However, some other types of cover, including life and health insurance, are exempt…

Government’s Insurance Premium Tax to rise, increasing insurance costs

From the 1st of November the Government is set to increase the amount of tax paid by consumers on most types of insurance premiums from 6% to 9.5%.

How spare keys could invalidate your home insurance

For obvious reasons, most homeowners leave spare keys with friends and neighbours just in case they find themselves outside their home, fumbling in their pockets to no avail, but you’re potentially at risk of invalidating your home insurance.

Your employment rights and how legal cover can help

Do you worry that something’s not right at work and you’re heading for a showdown with your employer? Have you good reason to suspect it could all end up in court? And if it did, could you afford to hire the right legal representation to achieve a satisfactory outcome? If you do, having Legal Assistance Cover on your Home Insurance could help you with what can be a very awkward, stressful and possibly costly situation.

What is identity theft and can legal insurance help?

Identity theft occurs when someone acting without your consent and knowledge uses information regarding your personal identification for illegal purpose

Should you stick with your home insurance provider?

Plenty of people take out home insurance but never actually need it. Unfortunately, this also means that a good many of them don’t ever really think about it either.

The dos and don’ts of making a claim

Claiming on home insurance is often a straightforward process, especially with smaller claims. However, if a claim is larger and more complicated, you’re going to need to put in a fair amount of effort in to be certain it turns out in the way you hope.

Are insurance companies good for society?

Many people who buy home insurance never actually have to make a claim on a policy. But insurers play a key role in society by taking on a level of risk which would otherwise prevent businesses and individuals from ever making financial purchases and investments.

What do my home insurance premiums pay for?

Home Insurance premiums are a necessary evil for most homeowners; it may hurt a little paying them out, but the financial protection you receive in return is crucial if you want to avoid a potentially financially ruinous situation

Top tips for choosing your Home Insurance Excess

Choosing how much voluntary excess you want to pay on any potential home insurance claim is a crucial part of taking out home cover, and can be tricky to get right. 

How your home insurance premiums are calculated

When an insurance provider is calculating how much they think it should cost to insure your home it all comes down to risk; the higher the chance you’ll experience loss or damage to your home and possessions, the higher your home insurance premiums will be.

Home Insurance Claim Jargon Buster

If you have to make a claim on your home insurance, or if you’re simply going through the terms and conditions when taking out a policy, some of the industry jargon you’ll come across can be a little confusing.

Why your Excess can vary depending on the claim

Home owners are often caught out after making a claim on their home insurance as they find to their shock that they have to first contribute a certain amount before the insurer sorts out the rest.

How to get a better deal at renewal time

Each year, your home insurance provider or broker will remind you that it’s time to renew your cover, usually either by letter or email, and usually offering you a new ‘deal’.

Why you can bank on a home insurance broker

Using an expert broker to find a home insurance deal, instead of going direct or using a comparison website, can not only leave you with more cash in the bank at the end of the process. It also means you’re more likely to have the right sort of cover in place, with potentially less chance of any claims you make being rejected.

Step By Step Guide to Making a Home Insurance Claim

Having to claim on your home insurance is not an ideal situation to find yourself in. But don’t feel embarrassed, it’s what your insurance is there for in the first place. A good insurer will be able to provide immediate advice and guidance, and handle your claim swiftly and efficiently. If they don’t, you’ll at…

Will my Home Insurance cover me for neighbour disputes?

Disputes with neighbours can make life miserable and are among the most common reasons why people move, according to a recent survey by Abbey Mortgages. Loud noise, boundary disputes over fences and overgrown trees, verbal abuse and lack of privacy are the root of most of problems with people living next door, or above or…

What insurance companies look for when insuring a home

As technology becomes ever more sophisticated, so too does the way that insurers decide how much it should cost to insure a property. These days, insurers will work out how much of a risk a particular building represents by using a far greater number of rating factors than they used to. Knowing what these are can, to…

Does having a lodger affect your home insurance?

The number of homeowners renting rooms to lodgers has shot up over the last few years as economic hard times hit. And as you can earn up to £4,250, tax-free, under the terms of the Government’s rent-a-room scheme, it’s not hard to see why. However, while you could gain a tidy sum without having to…

Are your possessions insured when you’re away from home?

Many people mistakenly assume when they take out home cover their possessions are covered both when they’re at home and away. They also make the assumption that no matter what the item, and its value, it will also be covered indoors and out while at the property. Don’t get caught out However, this isn’t necessarily the…

Protecting your property, possessions… and Home Insurance premiums

Claiming on home insurance is often unavoidable, but many claims could easily be prevented, potentially saving you the time involved and also, perhaps more importantly, money in the long run. Making a claim can mean you’re seen as more of a ‘risk’ by an insurer; your premiums are put up, and you lose your valuable…

Taking control of your finances with fixed-price Home Insurance

A price war has broken out among home insurance providers offering fixed-price deals, and consumers are set to benefit. Fixing the cost of your cover for a set period can provide peace of mind if you don’t want a potentially nasty shock at renewal time. Recent research from Halifax showed that over two-thirds of consumers…

10 Things to Know Before Buying Home Insurance

Home insurance is a necessity for most people, especially homeowners, and there are two types; contents and buildings. Contents insurance covers fittings and personal possessions, such as furniture, clothes and electrical goods. Buildings insurance covers a property’s actual structure and usually includes external elements such as garages, walls and gates. You can buy the two separately…

A Quick Guide to Home Insurance Terms and Jargon

When you’re looking for the best home insurance deal, you’ll come across a number of quite technical insurance terms which may all sound Greek to you! Avoiding insurance confusion You probably don’t hear ‘no claims bonus’ and ‘force majeure’ on an everyday basis. In fact, you might only ever hear them in relation to insurance…

House Insurance Excess Explained

Thousands of people are caught out every year when making a claim on their home insurance by what’s known as the policy ‘excess’. The excess is the first portion of any claim which must be borne by the insured, which is you, and not your insurer. Depending on what this was fixed at when you…

Understanding the Factors That Affect Your Home Insurance Premium

Factors like the street you live on, the proximity to rivers and trees, and how many claims you’ve made can all affect the cost of your Home Insurance

What Is Covered By Contents Insurance

If you’re lucky enough to be a homeowner, the chances are you’ll want insurance which covers both the building itself and also your possessions. However, if you don’t actually own where you live and rent, you don’t need the buildings element; it’s up to your landlord to pay for this (if they choose to do…

Understanding Your Home Insurance Contract

Many people make claims only to find that they’re not actually covered, because they hadn’t taken notice of the small print when they took out their Home Insurance policy

Understanding the Value of Your Valuables

Research shows us that between 20-30% of UK households could be underinsured because they do not know the value of their valuables. This could mean that you may not get as much from your claim as you might have expected

Subsidence: what every home owner needs to know

Do you ever get that sinking feeling that at any moment something is about to go terribly wrong? Well that rumbling in the pit of your stomach may have less to with the stress of a new promotion and more to do with the sickly state of your house’s foundation.

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