Sainsbury’s Home Insurance is bracing itself for a spike in claims now that the festive season is over. Christmas and New Year can prove costly for insurance companies, with figures suggesting that over £25 million could be paid out in Jan 2010. Last year, in the first week of Jan, the number of claims handled by Sainsbury’s was more than a third higher than a normal week and the amount paid out per claim was higher on average too by about one sixth.
All sorts of reasons have been advanced for the increase in claims. If homeowners are entertaining on Christmas Day, Boxing Day or New Year’s Eve their freezers can be stacked to the gills and if a power cut strikes the costs of ruined food can easily run into hundreds of pounds.
Many people are buying homeowner’s insurance (HOI). They buy this not because it is required by the lenders but also to protect themselves to the cost of damages brought about by the different hazards in life. Aside from that, this also helps them pay for any injuries that their homes has caused to other people, may be as guests or not. This kind of insurance is very important for this matter because the damage can be very expensive to pay out of pocket. With the help of insurance, the homeowner’s burden will be lightened a bit because all they would have to pay is the deductible (which is a fixed amount) and any excess of the full amount covered by the insurance. Read more…
04 Jan
Posted by: Admin in: Home Insurance
Insurance agents and brokers such as Trusted Choice and the Independent Agents & Brokers of America are offering tips to help families avoid winter risks that could increase homeowners insurance rates. By keeping your home out of danger’s way, you could avoid having to file claims, which in turn could increase your rates.
Here are the helpful tips from the insurers and brokers:
Ice dams are buildups of ice that block water drainage from the roof and the gutters. Unfortunately, these dams can cause leaks from ceilings and walls, causing other problems down the line, including mold. In order to prevent ice dames, you want to remove leaves, sticks and other debris from your gutters – or install gutter guards.
Never asked, why pay the insurance for a neighbor? There are several reasons why some homeowners pay more than others – here are some possibilities.
Consider first the house where you live, is the same as your neighbor or have one bedroom plus an extension or an attic or basement? All this contributes to the reconstruction of the value of your house on the side of buildings insurance on your walk home insurancePolitics.
Secondly, if one considers the level of content is at home. If you have valuables that your neighbors do not – as valuable antiques, computers, LCD TV, stereo, etc. – then it probably means more to display the contents of their policies.
04 Jan
Posted by: Admin in: Insurance Notes
Need a low cost of insurance for the owner of the rental of your property? Then you discover that something simple, proven ways to whip your insurance costs now.
Reducing the cost of insurance, choosing the right tenants
Most insurance companies will be willing to offer homeowners insurance low cost, if your tenants are the type to stay home more often. The reason is very simple: if your tenants arethe house that effectively reduces the risk of a small group of fire or theft.
This in turn reduces the costs for the contents of your home insurance and fire protection. Tenants old and housewives are generally regarded as the standard insurance hot.
No doubt, getting a home insurance cover is best and ideal at the time the home got purchased. Do not leave it until a later date, for though no one prays for a disaster the truth is that most times these disasters do not warn before popping up. Buying a house is one of the most expensive investments one makes in a life time so it is very imperative to get it insured so that in case anything happens it will be comforting to know that you are properly covered.
There are two parts to this policy. The building Insurance policy which takes care of the structure i.e. the roof, the bricks, the bathrooms, the kitchen, the sheets, the garage etc.