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Home Insurance Articles
Floods – are you covered? (2000)Having buildings insurance is usually a condition of your mortgage. It is extremely important to ensure cover is adequate – especially at the moment, with flooding occurring all over the UK. The effects of flooding can take months to sort out. The insurer or loss adjuster dealing with a flood claim will appoint a specialist drying company to assess the damage. Homes are dried slowly to reduce risk of dry rot - at this time of year, it can take 3 or 4 months to dry thoroughly. This, and any necessary redecoration, will be covered by your buildings insurance.
But don’t forget your carpets, furniture and electrical items. These are only covered if you have contents insurance – and around 25% of homeowners don’t. Many of these people will fall prey to flooding, and may well have to pay for thousands of pounds worth of damage themselves.
Some policies don’t cover water damage as a result of a leaking roof. Make sure you take up the accidental damage option to cover this – but only if your roof is properly maintained. Your insurance company won’t pay up, even with AD cover, if your roof is poorly maintained.
Are you covered for Bonfire Night? (2001)
The cost of a box of fireworks is expensive enough, but you could also face a big bill if someone gets burned or your neighbour's shed goes up in flames. If you are organising a party for friends and family this Bonfire Night, it could pay to check your home insurance covers damage to property and injury to spectators beforehand.
Most policies will cover informal firework parties if a bonfire gets out of control or a stray firework sets the garden shed on fire, especially if you have taken out accidental damage cover. But you won't be covered if you are found to be negligent - so make sure that you take due care and attention.
Last year, there were just under 1,000 accidents due to fireworks in the 4 weeks around 5th November, nearly 40% of which required hospital treatment. More than half of these were children. 2 people died. It is therefore extremely important that your home insurance policy has adequate cover for injuries caused to other people.
Is your home at risk of flooding? (2003)
There are around 200,000 homes that have a strong risk of flooding*. Many of these could be blacklisted by insurers now an agreement between the government and the insurance industry has expired.
If you are one of the unlucky, your insurer will contact you at renewal - your policy excess may rise considerably or they could refuse you cover.
It is extremely important to ensure your buildings and contents cover is adequate. The effects of flooding can take months to sort out - it can take up to 3 or 4 months for your home to dry thoroughly. Carpets, furniture and electrical items are covered by your contents insurance. Some policies don't cover water damage as a result of a leaking roof unless you have taken out the accidental damage option. But your insurance company won't pay up, even with AD cover, if your roof is poorly maintained.
*Source: Association of British Insurers
Is your home insurance valid? (2003)
Television superstar Cilla Black became another victim of house invaders when her home was violently raided recently. But last week her £1 million home insurance claim for the jewellery stolen during the theft was rejected.
The star’s home did not have locks on the windows on the ground floor - a common requirement in buildings and contents policies - making her home insurance null and void.
You may not have the same value of assets, but would you be covered if you had to make a claim? Insurance companies expect certain security measures to be in place in your home, such as five-lever mortice locks on all exit doors and key-operated window locks. Make sure your policy details match the current state of your security or you could invalidate your insurance.
You may reap the benefits if you improve on your home security too. Burglar alarms and locks above the minimum requirement may result in a discount, so be sure to let your insurer know.
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