When arranging your home building & contents insurance it is extremely important to ensure that you are fully aware of what excess applies to your policy as you will need to pay this amount in the event that you have a claim.  

It may be quite confusing, but take time to ensure that you know the position as you do not want a shock in the event of a claim.

Policy Excess : This is applied to all policyholders and is part of the policy terms. In addition to this excess there may be

Voluntary Excess: This is an optional amount that you can choose which will reduce your premium.

Compulsory Excess: These may be applied by the insurance company to reflect your policy risk. These excesses will be clearly shown on your policy schedule.

OTHER EXCESSES TO CHECK

Due to the large increase in the number of escape of water claims, many insurance companies have increased the compulsory excess for this type of claim. Make sure that you are aware of this amount as it is not uncommon for the escape of water excess to be £200 or more.

The main point to bear in mind is to check what the excesses are and ensure that they suit your needs.

When arranging your home building & contents insurance policy it is extremely important to ensure that the cover you have selected adequately covers your needs and protects your home and your possessions.

A friend recently had a nasty surprise when she submitted a home insurance claim to her insurer after her house had been broken into. The thieves stole many personal belongings such as jewellery and laptops and other technology items.

They also stole several scissors and hairdressing equipment that she uses at her work and the total amount was in the region of £2,000.

Unfortunately, she has found out the hard way as the insurer involved repudiated the claim in respect of the aforementioned business equipment and therefore she has in effect been self insured for the £2,000 worth of goods.

Unfortunately, she thought she was covered for such items whilst in her home, but the home contents policy was quite clear and there was no cover when she read the policy.

The insurance company had settled the other part of the claim but they referred to the policy wording that clearly stated the position.

Many household policies do not cover business items and stock in the home, so it is not that uncommon.

Unfortunately, my friend has found out the hard way but she will be very careful in the future that any home insurance policy covers her needs.

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There has been much coverage in the press recently of rising home insurance premiums and some of the percentage increases are quite staggering for some people.

Insurance companies will review their rates continually and will look for trends that may develop and the underwriters then may take action to increase premiums in certain postcodes or for certain types of risks. 

One insurance company may find that their claims experience in a particular postcode area has been particularly bad and therefore look to implement a large increase in this area in order that they slow down the new business that they write from such an area.

This may be fine if you are looking for a new business quote and you are not currently insured by this company as you would simply select another insurer from the panel who is more competitive to meet your needs.

However, if you are currently insured with such an insurer, then you may find that the renewal premium increases quite dramatically and this is the time that you will need to shop about and obtain alternative quotes.

It may also be the case that the insurance company has had a change in strategy and may not wish to keep increasing the number of home insurance policies that they write and again you may find in this instance that premiums may increase dramatically.

Whatever the reason may be it could be the case that the insurance company you selected three or four years ago will no longer be competitive for your home.

Insurance companies will price their products to try to make an underwriting profit and therefore rate changes to particular product lines will be dependent on the profit that the insurance company is achieving.

If your home insurance is due for renewal then obtain a quote from http://www.insurescotland.com and see how much you could save.

When arranging your home insurance policy, make sure that the policy you select meets your needs.

When arranging your home building & contents insurance it is very important that you are fully aware that the cover you have selected fully meets your needs.

Your home is probably the largest investment you will make and it makes sense to ensure that you are protecting the property to your satisfaction.

Many policies now have compulsory excesses and this varies from insurer to insurer, so it is important to ensure that you are aware of the excess as you will need to pay this amount in the event of a claim. 

Many insurance companies may also have a compulsory excess for escape of water of water in respect of building and contents insurance. You need to check this amount as the excess can vary from £100 up to £500 on some occasions. A £250 excess for escape of water is not uncommon, but make sure you are aware of what the excess is as you will require to pay this amount in the event of a claim.

One other point to check is the renewal paperwork that you will receive from your insurance company in respect of existing home insurance policies. There will normally be a page inserted that clearly shows any changes to your policy from the previous years renewal date.

It is extremely important to fully read these changes and make sure that any changes to your home policy still meet your needs.

Online comparison quotes for home & landlord http://www.insurescotland.

The storms that recently battered Scotland at the end of December and also during early January have left a trail of destruction and insurers have been inundated with calls from anxious policyholders.

Travelling around Scotland it is amazing to witness the number of mature trees that have been blown down and it really brings home the severity of the storm particularly in January.

Many people have suffered either damage to their car or home and the most important action is to call your insurance company for their advice.

Many cars have been damaged by flying slates or tiles or chimneys collapsing on them. There are also pictures of cars being damaged by walls or fallen trees. 

In these circumstances the best course of action is to contact you car insurer and let them deal with the accidental damage part of the claim. It would be extremely difficult to prove negligence against anyone and therefore it is best to contact your own car insurer.

There will probably be an excess on your car insurance policy, so check the details on your schedule as you will be responsible for this part of the claim. The claim will also affect your no claims discount under your car policy.

The best course of action is to contact your insurance company for advice and guidance.

Online home & car insurance quotes http://www.insurescotland.com/

During the storms that battered the country at the end of December and then again in early January, many people advise that they have experienced damage to fences with many blown down or even blown away.

They have been enquiring as to whether fences are automatically covered by home insurance policies and unfortunately they will not be covered by the vast majority of policies.

On most home insurance policies, the insurers will normally have an exclusion under the storm peril. The exclusion will normally be loss or damage to fences, gates and hedges.

Unfortunately, the policyholder will be responsible for repairing the damage to the fence or replacing the fence.

Some policyholders are also wondering whether storm damage to garden walls are covered under a home policy and the building definition under most home insurance policies would normally include garden walls and the storm peril would not normally exclude garden walls so there is some good news on that front.

If you have suffered damage in the storms that battered the country then the first thing to do is call your insurance company for guidance. Due to the severity of the January storm, some insurance companies may authorise the work to proceed up to a certain figure. However, this will vary from insurer to insurer , so it is extremely important to call the insurance company to find out the position.

Online home building & contents quotes http://www.insurescotland.com

It is a sad fact that insurance companies have been the victims of fraud for many years and many people have targeted them as an easy hit.

It affects us all and the honest policyholder ends up paying more on their premiums than they should and really this is not fair at all. It is therefore in all our interests that fraud is cut out.

The launch of the insurance fraud register is a sign that insurance companies are no longer willing to put up with this practice.

It was also to send a strong message to organised criminal gangs who were involved in such acts as the ‘crash for cash’ scam, that insurers were ready to fight back.

Over 60% of frauds are opportunist and on many occasions such people try to defraud the insurer time and time again. The Insurance Fraud Register will help to highlight such people.

The Insurance Fraud register will be an industry wide database of proven fraudsters and this will be made available to insurers. This will help insurers in their underwriting, claims and mid term adjustment processes.

Through time it is envisaged that the register will be made available to brokers as well as insurers and this will be a help to brokers in their business.

It is really good to see the industry taking action to hit back at the fraudsters who have conned the insurance industry out of thousands of pounds. It is also fair on the honest policyholders who should not be paying more due to the actions of these people.

The winter weather can bring issues for homeowners and it is the time of year that insurance companies receive the highest number of claims.

It is worthwhile to take some precautions to help guard against any losses and it saves hassle for you. First point to check and it is extremely important and that is that you have actually a current home building & contents policy in force.

It is also worthwhile at this time of year to dig out the policy documents and also any helpline numbers just in case that you may need to use them. At least be able to know where to find them as it is amazing the number of people who cannot locate their documents when they may need them in an emergency.

Some tips below for the winter:

Bikes, garden equipment, garden furniture,trampolines etc should be safely stored away to stop them being blown away in a storm and causing further damage.

If you will be spending a night away from home or a longer period, leave the central heating system set to come on for few hours at the coldest part of the day.

Neighbours can be a help with keeping an eye on the property.

If you are leaving the property unattended, also make sure that all security is in place e.g. window locks etc.

Taking some time to make some precautions can be worthwhile and save all the hassle if you have a claim.

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At this time of year with the winter weather now upon us it is time to check to ensure that your cover is still in force and also that the cover you currently have adequately suits your needs.

There is nothing worse than having to submit a claim under your home policy as it is something that we could all do without and all the hassle can be a pain.

There are some tips below to help you guard against potential winter claims.

Aerials and satellite dishes need to be securely fitted to the property.

Check for any loose tiles on your roof. You can enter the loft to check to see whether there is any evidence of water damage or you may notice light through cracks in the tiles.

Ensure that any pipework in the loft and also garages are well lagged to help guard against any bursts.

Garden furniture should be stored away safely to stop it being blown about in gale force winds.

Trees should be checked to ensure that there are not any problems in a storm. If you are in any doubt about the health of a tree then contact a specialist.

It is always best to take some precautions and have a trouble free winter.

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Recent statistics show that thousands of homeowners suffered last winter with escape of water claims. This caused damage to both the building of the home and in many cases the contents were also damaged and had to be replaced.

Before the worst of the winter weather sets in, this is the time to check to ensure that you have cover in force for your buildings insurance and also your contents insurance. Recent statistics suggest that nearly 20% of the population do not arrange contents insurance cover and this is very risky to say the least.

Last year insurance companies were inundated with burst pipe claims due to the freezing weather and it was not unusual to discover that the total cost of the claim was in the region of £25,000 and this shows the devastating affect that this type of claim can have on not only the building of the property,but also the possessions in the house.

There were also larger claims that were over £100,000, so the effect can be quite devastating on the property.

Many claims last year emanated from pipework in the integrated garage of a property and this is an area to keep a close eye on for any potential problems and to ensure that the pipes are well lagged in these areas.

Due to the high number of claims that insurers suffered in the last few years, the amount of excess for an escape of water claim has also increased with many insurers. Check your cover to ensure that you are aware of what your excess is for this cover. Some insurance companies have increased this excess to £250,so make sure that the cover suits your needs.

The main point to bear in mind prior to the winter is checking that you firstly have cover in force and then making sure that it fully meets your needs. Make sure everything is in order to avoid any nasty shocks this winter.

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