HOME BUILDING & CONTENTS VOLUNTARY & COMPULSORY EXCESSES

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.

HOME INSURANCE & BUSINESS EQUIPMENT STOCK ONLINE QUOTES

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.

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

 HOME BUILDING & CONTENTS RENEWAL PREMIUMS DISCOUNTS & BEST PRICES

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.

HOME INSURANCE EXCESS & DISCOUNTS COMPARISON QUOTES & RATING

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.

STORM DAMAGE & HOME BUILDING CONTENTS & CAR INSURANCE SCOTLAND

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/