- All Covered?
- Research suggests that most people in Britain are seriously under-insured. One reason for this is that children, rather than their parents now own a number of expensive high-tech goods. Adults often forget to include these on their insurance policies and also, are guilty of not up-dating the value of their own possessions.
- Home and Contents Insurance. Keep your home in shape for insurance's sake
- Your claim on home and contents insurance could be rejected if your insurer thinks it's a maintenance issue – this article tells you what to do to keep your home in shape.
- Home and Contents Insurance. Keep your home in shape for insurance's sake
- Your claim on home and contents insurance could be rejected if your insurer thinks it's a maintenance issue – this article tells you what to do to keep your home in shape.
- Knowing Exactly What You Are Insured For Will Prevent Unnecessary Angst.
- Not knowing your policy and what exactly you are covered for can cause a lot of stress in a worst case scenario. Below we give an example of this happening and the outcome, and, share some tips with you.
Increasing flood risks across Britain could leave some homeowners uninsured
Summary:
Floods are becoming more common and more damaging year on year. This article discusses what the Government and the insurance industry is planning to do about it, and what it means for those homeowners affected.mmodate your child. It may be necessary for you to go for a private school with the help of a loan, but which type is best?
Whether its due to global warming, or Britain has simply become more prone to prolonged and persistent periods of heavy rain - floods have been hitting the headlines more and more in recent years. At the moment, over two million homes (10% of homes in the UK), are at risk from coastal or inland flooding and around 400,000 homes at very high risk of flooding (over 1.3 % annual probability) - but with astronomical payout costs, its becoming increasingly difficult for the insurers to continue offering insurance to everyone.
Thats why the ABI (Association of British Insurers) is working in conjunction with the Government to ensure that the issue of flooding is addressed, with the aim of ensuring that the vast majority of those living in high-risk flood areas can still access affordable home insurance. The partnership began in 2000 when over 10,000 homes were affected by flooding, at a cost of over Ł1 billion to the insurance industry. Recognising that the situation was likely to worsen, the ABI agreed terms with the Government which would help the industry to continue to provide cover. Now, five years on, ABI has assessed the situation and found that the Government has not been holding its end of the bargain, Stephen Haddrill, the ABIs Director General, said: "Much has changed for the better in the last five years, but more work is needed in the next five years as well. The Government has now got the right policies, but they are not being fully delivered." (mppi)
The ABI recently released A Future for the Floodplains report, warning that the real figure of homeowners at high risk of flooding is more like 570,000. The report focuses on the Government and its need to up spending on flood defences by 10% a year to Ł750 million by 2011. If the Government cannot commit to improving flood defences, the costs will just be too great for the insurance industry to cover, taking into account the increased value of homes and their contents, along with the increased risk of flooding. (personal loans)