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Home insurance for the wealthy launched by Debrett’s

September 1, 2011 By Dawn Bickford Leave a Comment
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The authority on all matters of etiquette, Debrett’s, has revealed plans to launch a high end home insurance policy designed specifically for customers with property and contents worth more than the average.

Debrett’s will offer both home and contents cover with a team of experts who will assist each of their clients in order to tailor their policies to suit their exact needs. Anyone with home contents worth more than £75,000 can take out a policy with Debrett’s, the provider aims to offer comprehensive cover for items which are both unique and expensive.

If the worst does happen and these valuables are lost or stolen, Debrett’s will provide a designated team member to assist the client in helping to track down replacement items. Upon taking out a home insurance policy of any kind with Debrett’s, the customer will be allocated their own personal account manager who will be their point of reference each time they contact the provider.

The new comprehensive buildings cover from Debrett’s is available for anyone with property worth more than £1 million, with statistics revealing that some 135,000 properties in the UK have an estimated worth in this region and will therefore be eligible to take out a policy with Debrett’s.

If you’re looking for premium home insurance, take a look at the latest property insurance product on the market, courtesy of Debrett’s.

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Brits undervalue their home contents on insurance policies

January 19, 2011 By Samantha Lewis Leave a Comment
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A recent study by insurance provider Direct Line has suggested that as many as half of British home owners are undervaluing the contents in their property which could leave them severely out of pocket should your property be burgled, or damaged by flooding or fire.

Out of the estimated 50% of home owners who are underinsured, 26% are reported to under estimate the cost of their contents such as furniture, electrical goods and clothes. The average worth of home contents is in the region of £20,000, however many policyholders fail to take out cover up to this value.

However a further 20% of Brits fail to take out any form of home contents insurance policy at all, despite the fact that the average cost of contents for people in this group is £14,000.

4 in 10 home owners also fail to update their home contents insurance policy when they inherit items such as jewellery, ceramics, paintings or furniture from relatives.

When calculating the worth of your contents, the advice being given is to estimate how much it would cost you to replace all of your items should they all be wiped out by fire or flooding, and not to estimate how much your items are actually worth. Looking room by room at how much it would cost to replace each item will give a more accurate idea of how much home contents insurance you need.

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High proportions of young adults fail to take out home contents insurance

October 14, 2010 By Fiona Clarke Leave a Comment
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Home contents insurance doesn’t rank very highly on may young adults’ “to do” lists new research has revealed with almost half of those questioned as part of the study admitting to not having cover for the personal items in their home.

The research was carried out by MyVoucherCodes.co.uk and questioned 1,467 young adults aged between 18-25 years of age who live away from their parents. Out of this number a staggering 49% admitted they didn’t have contents insurance to protect their personal belongings.

Out of those who had no contents cover, 41% were students in rented accommodation, while 7% were home owners with a mortgage. When questioned as to reasons for not taking out insurance on their home contents, the most popular reason was “haven’t got round to it” with 54% using this excuse. 6% were honest by saying they thought it was a waste of money, 11% said they couldn’t afford it, while 9% thought they didn’t need it.

Out of those young adults who did have a home contents insurance policy, 12% said they had taken out cover as they believed it was a legal requirement, while 3% said it was because they’d been caught out in the past for not having cover.

Insurance experts believe there is a grey area which is causing confusion. For those in rented accommodation, the landlord will be responsible for insurance for the building, however the tenant will generally need to have their own cover for personal items such as TVs, laptops, cameras and other valuable items. The advice being given is, if in doubt, do your research or ask the advice of your letting agent.

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Insurance advice for football fans during the World Cup

June 9, 2010 By Dawn Bickford Leave a Comment
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The insurance company Aviva has advised football fans to take care while practising their ball skills during the World Cup after it found that glass breakage insurance claims shot up during the last tournament.

The Insurer revealed that during the 2006 World Cup which was hosted by Germany, claims for smashed windows, conservatories, greenhouses and other glass structures rose by 25%. Experts believe football fans, feeling inspired by the performances of David Beckham and Wayne Rooney during the world renowned sporting event, over enthusiastically took to practising their ball skills in their gardens and local parks.

Wayward footballs were said to be blamed for a high percentage of the breakages. The average insurance claim for broken glass and windows during this period was £600.

However football fanatics are not the only sporting fans to come into trouble during a major sports event. Aviva revealed that glass related damage rose by 30% last year as cricket fans took to practising vigorously during the Ashes cricket test last summer.

The advice being offered from Aviva and other insurance companies is to take care while kicking about a football to avoid costly insurance claims which could cause your premiums to rise when its time to renew your policy.

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Survey reveals 1 in 5 households fail to take out contents insurance for their home

June 8, 2010 By Samantha Lewis Leave a Comment
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According to a recent survey conducted by one of the UK’s leading insurers, Swinton, 1 in 5 households are failing to take out contents insurance.

Insurers warn that these individuals could face a hefty bill to replace items within their home should they fall victim to a burglary, or if their home was damaged as a result of fire or flooding.

The poll questioned 2,573 online Swinton customers and found that 18% of those involved in the survey didn’t have home contents insurance. When asked why they hadn’t taken out cover on their home contents, a variety of reasons were uncovered, the most common being, it’s too expensive. 32% said they simply hadn’t got round to it, while 16% argued that it isn’t a legal requirement, with 7% saying they thought it was too complicated.

With the average household owning £28,000 worth of contents, insurers say not covering your possessions is a risk you really can’t afford to take.

Everything in your home should be taken into consideration when estimating the worth of household contents, from the vacuum cleaner, to musical instruments, clothes, shoes, and your TV. Insurance companies recommend that you estimate the worth of your contents as accurately as possible as if you over value your possessions, you could face unnecessarily high insurance premiums.

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