20 Sep
Posted by: John Moysey in: Home Insurance
I was told by my ex that a home insurance agent was coming to look at the INSIDE of my house. I was under the impression only appraisers came to look at the inside of your home. Do home insurance agents do that now too? What’s the cheapest home insurance?
The FSA have issued the largest fine in their history. Zurich Insurance were fined £2.275 million after the loss of a data tape in 2008, whilst moving the tape to a new location in South Africa. Zurich did not learn that the tape had been lost until a year after that date. The data held included the personal details of over 46,000 UK customers and many more in South Africa. The tape was never recovered, although it does not appear to have been stolen.
Zurich Insurance had outsourced their data storage security to a South African firm but they had failed to create proper incident reporting lines and, as such, it took over a year for the information concerning the loss to reach them.
The Met Office reported earlier this year that this summer has been the driest since 1964…subsidence could be a very real threat. Subsidence claims can run to tens of thousands of pounds if a property has to be underpinned or rebuilt, so it’s important that your UK holiday home insurance provides suitable protection.
Subsidence and its related perils can cause serious structural damage to a building and it’s prudent to understand just how common they may be in a given area.
Of course, this isn’t just an insurance issue. It’s typically also highly desirable to know about these risks in a location before you decide to purchase a property to begin with.
What is subsidence?
But first of all, what may cause this very-expensive-to-put-right problem?
Subsidence is more common in older houses (pre-1965 but especially Victorian homes) that have shallower foundations. Dry weath
There was a time when it seemed that cheap homeowner insurance was everywhere. This was in the days before Hurricane Katrina which was so devastating that many insurance companies could not make good on paying off their policies. Nowadays good insurance for homeowners is very expensive, that is if you want a guarantee that it will pay off. When it comes to cheap homeowner’s insurance you get what you pay for.
Not too long ago you could have your choice of dozens of companies willing to sell you cheap homeowner insurance (http://cheap-insurance-rates.com/home/miami.cfm). It would just seem logical that you need to get insurance for all of the risks that you need covered – especially if you are a landlord.
Unfortunately this summer has seen several balcony fall fatalities in Europe. As the summer season draws to an end for many second home owners, thoughts turn to holiday home maintenance. As you work your way through your maintenance checklist, take the time to review balcony safety at your property.
Is the railing unsafe? Corroding? Does it comply with current health and safety regulations?
If an accident occurred and it’s claimed that your balcony was unsafe, then no doubt the third party would seek compensation. If you have comprehensive holiday homes insurance cover, then the policy should include public liability insurance to cover legal costs and any subsequent compensation.
But what about community block insurance? It is likely that your holiday apartment is covered by a block buildings insurance policy. T
09 Sep
Posted by: John Moysey in: Home Insurance
I ask this question on behalf of my friend, who lives in Malaysia. He wants to know what the law in England will be in this case.
My friend is gonna let his house to another, so that he can have some income. A question arises: They need to buy a home insurance in case there is an accident like fire. Apparently in Malaysia, a homeowner doesn’t have to buy insurance for his house.
So in this case, who should pay for the home insurance, the homeowner or the tenant? I mean, the rental period is 2 years, and the insurance, if paid, will cover for 2 years only.