Insurance, Claims & Accidents

Archive for the ‘Contents Insurance’ Category

When you compare house insurance policies, consider purchasing a product that includes cover for digital assets.  It sounds like something from a science fiction film, but increasingly people are finding themselves at a loss when their laptops or other high-tech equipment is lost or stolen.

It is not the mere physical value of our personal technology systems that is the concern, but all the invaluable downloads and digital data stored on them that costs so much to replace.  If you have a vast music collection on your i-pod and it gets stolen, you will have lost all your i-tunes downloads.  Imagine the cost of replacing thousands of your favourite tracks.  Equally, many digital products or programmes exist only on our laptops.  If your laptop is stolen, it is not the only thing that needs replacing.

You can protect personal computers and the invaluable digital data stored on them by frequently backing them up.  Store backed-up discs or hard drives separately from your computer.  Virtual storage facilities are included in many internet packages, and you should investigate the options of your service provider.

Viruses can disable your laptop and steal or wipe out personal data.  Make sure your anti-virus software is up to date.  If you have transferred your vinyl record collection into digital format, don’t throw them out.  They are the ultimate back-up if disaster should strike.

Finally, remember that when you compare house insurance policies do not overlook the protection of your digital assets.  We depend heavily on digital technology in our lives and we should ensure dependable insurance cover is in place to protect it. 

If you want cheap home insurance, you need to spend time obtaining home insurance quotes.  Getting involved and taking a proactive approach can reap dividends.  Make a note in your diary about six weeks prior to your home insurance renewal date, as this will allow plenty of time for you to seek out better deals on the market.  If you find a cheaper product, some insurance providers will offer to match it in order to retain your business.  Don’t be shy; a little haggling can often result in a discount.

Websites exist that let you compare home insurance providers online.  You can obtain instant home insurance quotes and make informed decisions about a wide range of insurance products.  Additionally, no one likes paying for something they don’t need, so keep your home insurance policies up-to-date.  Inform your insurer if you have sold a high value item, as this may reduce your premium.  Furthermore, if you have given away jewellery or other pricey goods, tell your insurer.  Why pay high premiums for unnecessary cover?

Conversely, if you forget to include expensive new purchases on your home contents policy, your premiums will remain the same.  However, if the worst happens, it will be a false economy as you won’t have adequate cover.

Why pay for unnecessary cover?  Why be under-insured?  The golden rule for avoiding nasty surprises is to keep your insurer up-to-date with any changes that might affect your home insurance policy. 

You have home insurance, but now damage or loss to your property has occurred. Sensibly, the first step is to call your insurer. Most companies have an emergency phone line available. It is a good idea to store this number in a secure and easily reached place. You do not want to be rummaging around for the phone number during a time of crisis.

If you are not sure what your cheap home insurance policy covers, now is the time to check the policy and determine if you are indeed covered for the damage or loss that has occurred. If so, you should then clarify under which policy to make the claim. If the damage or loss occurs to the structure of your house or its fittings and fixtures, you will make the claim under your buildings insurance policy. If the possessions inside your house have been affected, the claim is placed under your contents insurance policy.

During your initial phone call with your home insurance company you will need to explain what occurred and then request a claim form. This can usually be done via email. You will most likely have to return the claim form with estimates regarding the repair or replacement of the building or its contents. Do not throw away any damaged items, and also ensure to take photos of all damage to your buildings or possessions.

After receiving your claim, an insurance company can decide to either spontaneously pay the claim, send an assessor to determine the amount they believe is sufficient, or send a loss adjuster to advise you on repairs or replacements.

If you own a holiday home in the UK, a standard home insurance policy will usually not be sufficient to insure that property. 
 
For one thing, your holiday home sits vacant for periods at a time.  It may be for only a few days each week or it may be for months at a time.  Vacant homes are more likely targets for thieves and damage, and holiday home policies reflect that.  In addition, a standard buildings insurance policy generally excludes periods of time that the home is left unoccupied; a holiday home policy does not.  A holiday home policy will also take into account the risks associated with letting the home, and allow you to undertake that activity—assuming, of course, it’s allowed in the location of your holiday home.  Standard building cover does not allow for letting, and if the insurer finds you in that activity, they are likely to cancel your policy.
 
Make sure you are fully covered for fire and water damage.  Unoccupied homes have a higher risk of damage from burst pipes in the winter months, as no one is there to notice the damage occurring.  Should you decide to let your holiday home, a separate policy for that is usually recommended. 
 
Also, check your policy every few years to be sure you have enough cover.  If your holiday home has increased in value, have a surveyor from the Royal Institute of Chartered Services (RICS) do a professional assessment of your home, or look into an “unlimited cover” policy that will re-build your holiday home to its before-disaster state.
 
It only takes a few minutes to keep your little corner of paradise covered against damage and loss.

Are you looking for house insurance quotes? If you are you will be beginning a process that will take you through to find the best possible quotation. Once this process is over and your policy is in place, it is all too common to store it away somewhere to forget about.

However let us suppose you were burgled. Would you know exactly which items you would need to make a claim for? You would if you had photographs of all your valuables. This applies in particular to situations where you have jewellery or similar items that you cannot pick out of a catalogue. These may be items that have been in the family for a long time. The more information you have about them, the easier it will be to manage the situation should you lose them.

For any special items such as these, make sure you get home insurance quotes that fully cover them. Standard cover may not always be good enough for all the items you have. If in doubt, make sure you ask. There may be certain circumstances where some policy holders will have to increase the amount of cover they have for particular prized possessions.

It does go to show how important it is to look over all the policy details in situations like this. You want to be sure you get the perfect policy right from the start, no matter what kind of possessions you own.

If you currently have a home insurance policy, the need or desire to cancel your coverage may arise.  You can cancel your coverage at any time, but you may incur penalties or fees for doing so.  Depending on your situation, you may be able to cancel with no penalties, but without any refunds, or you may be able to receive a refund for the unused portion of the policy term.

Why Cancel?

If you’ve chosen a home insurance provider, why would you need to cancel?  If you notice problems with the provider, such as the company raising premiums or going bankrupt, you may want to find a new provider before you coverage term ends.  It may be as simple as finding a much better deal on home insurance coverage.  Another reason may be because you need a different type of policy than the current provider offers.

Penalties

Check your home insurance policy carefully.  Details about any early cancellation fees are listed with the policy itself.  Penalties are also incurred when you file a claim and then cancel.  If you are planning on cancelling a policy, it is best not to file any claims during the term you cancel in, if possible.

Receiving a Refund

If you haven’t filed a claim, but your home insurance policy term is still active, you may be able to receive a refund for that unused period.  Some insurers only offer refunds early in the term, while others offer refunds up to the last few months.

Are you preparing to build a house and intend doing the contracting and some of the work yourself?  You will need insurance, of course, to cover the house, but you will also need to make sure the construction process is also covered.  Home insurance can be purchased that will cover you for a number of incidents that can occur while constructing a property.

You will need home insurance liability to cover any member of the public that wanders onto your building site and is injured.  The structures that are already present must be covered and the mortgage lender, if there is one, should be mentioned as a party of interest.

The materials used in the construction of the building will need to be insured and there are provisions for covering materials as they are being transported from the supplier to the site.  The building and the construction work can be covered by Contractors All Risks (CAR). 

Any employees that are working on site will need to be covered.  Also in this category should be included anyone else that is hired as a sub-contractor, for example electricians or plumbers.  Keep in mind that even friends or family, who want to lend a hand, even for just an hour or two, must be insured.  If anyone is injured on the site, no matter what their relationship to you, can and most likely will, sue you for medical expenses and more.  In such cases you will be classified as an employer. 

You’ve just purchased home insurance or contents cover, and are now possessed of a bewildering array of paperwork and documentation.  How much do you keep?  And where should you keep it?  What about the items which come at renewal time?

The most important of all these documents is the policy itself.  It spells out exactly what is covered—and what is not.  For example, your contents cover may be included with your home insurance, or it may be a separate policy.  You may have purchased Personal Belongings Away From Home cover, and that may be ‘wrapped’ with your home policy.  All of this will be included with the policy if you purchased it, so it’s wise to spend some time going through your policy and ensuring that everything you requested is listed.  The time to discover you didn’t add In and Away From Home cover is not when you decide to file a claim!

The policy itself should be stored away from your home, if possible.  Another option is to request an electronic copy and keep that on your computer, or ask your insurer if they keep an electronic copy for you.  In the event of a fire, flood, or other property destruction, you’ll want your policy somewhere where you can get at it, and where it will remain whole.

Another option is to make a photocopy of it.  Keep the photocopy of your policy at home and place the original in a safe or safe deposit box, where you can access it if needed.

When comparing home insurance find out what the mortgage lender requires you to cover.  This is important, because there are a variety of ways in which you can insure your property.  There is simple fire and theft insurance and there are also a number of additions you can make to the policy.  There are a large number of providers on hand to insure your property, so it is wise to get quotes from several of them and then make a comparison.

What will you want to insure?  Are you interested in having insurance just to pay for the rebuilding of the property at the current building rates or do you want to have the maximum cover, including everything?  Is your house in an area prone to flooding?  Do you want to insure the contents or just the building?  These are just a few of the questions you will be asked to answer when you request quotes from insurance providers.  You can also find quote sites on the internet and you will get lots of companies from which to choose.  The search is probably best done that way, as you will have a good selection to compare side by side. 

You will probably be surprised when you compare home insurance, as you will find that there is such a wide range of payment options, premiums and different ways in which to make claims.  The customer service should be excellent, as you will need to count on it if a disaster were to strike your property.

Home insurance makes perfect sense.  Even if your lender does not require you to have home insurance or you own your home outright, you would still be wise to have it.  A house is one of the most expensive investments you will ever make and you need to protect it.

Home insurance quotes can be found for any kind of insurance you require.  Decide whether you need to insure for the property value only or want to be able to rebuild the house at full value.  The land will still be there through fires, floods and just about anything else that could happen, so you will only need to have insurance for the rebuilding costs at today’s prices.

Even though houses may be located in entirely different parts of the country, a comparable size building will cost approximately the same, wherever it is.  The simple explanation for this is that there is a cost attached to building a three bedroom, two bathroom home, no matter where it is.  The cost will not be less because the property value is lower in a particular neighbourhood.

When you ask for home insurance quotes be sure to keep this in mind.  You will also need to decide whether you want flood insurance, if it is extra.  This is obviously a good idea if you live in one of the Environment Agency map’s flood areas.  Other items you might want to consider are emergency living expenses, in the case of evacuation or destruction or safety ruling on your house or insurance to cover special equipment or any business you run from home.