Modern policies usually come with ‘new for old’ settlement as standard for contents and personal possessions, with no deduction for wear and tear and depreciation. The only exception being clothing and linen, which generally have a short life span. Great for the insuring public and beneficial for insurers, who don’t want to waste time and resources haggling over claim settlements.
To make the ‘new for old’ agreement between insurers and policyholders a fair one, the contents should be insured for the new replacement cost. Therefore when you are calculating a sum insured that is right for you, think of the new price for your contents. For guidance with your home contents sum insured try the home contents calculator
This summer has been a wash out as far as the weather is concerned. Rain, rain and yet more rain, causing localised flooding and disaster for all concerned. However with rain comes wet ground, reducing the need for trees and shrubs to extend their roots in search of moisture, which should result in fewer incidents of subsidence damage. Tree and shrub roots are a major cause of subsidence, especially in shrinkable soil areas.
We all enjoy a sunny day, but prolonged spells of hot weather results in a rise in subsidence damage. The summer of 2012 might be a low point for sun lovers, but it may be a season with fewer subsidence damage than usual. Subsidence is costly for insurers, so fewer claims may mean less of a squeeze on home insurance premiums, helping to lessen the effects as insurers compare premiums with claim payments.
Obtaining cover for Contents Insurance for homes with past subsidence history can be difficult, despite claims for subsidence damage being a matter for the buildings insurers. Try using an insurers’ website or a price comparison site and it is likely you will get nowhere once you disclose the past subsidence. Call centres are no better, so where do you go for common sense thinking and a decent price? As a specialist Insurance Broker we use our expertise to find a solution, at of course the right premium. If you live in a flat or in a situation where it is best to keep the buildings with the current insurer, but wish to compare the price of having separate contents insurance, we are here to help.
Our Contents Insurance policy comes with a wide range of cover as standard, including spoilt freezer contents, loss of home keys and family legal expenses. Other optional covers can be added for extra premium, such as full accidental damage, cover for personal possessions away from home for jewellery, laptops, mobile phones, personal money and cycles. You can choose the cover that suits your requirements.
To obtain a competitive quote please click on the QUOTE LINK, submit your details and we will come back to you, or call Steve Hayton or David Nash on 020 8941 2204 during office hours.