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newFacebook updates could invalidate your home insurance

Rising prices: The average UK house price now stands at another record high of £196,412, Halifax figures show i

Holidaymakers are being urged to resist the temptation to post pictures or status updates on social media sites or risk invalidating their home insurance. Telling the world that you’re away for a fortnight is an open invitation to burglars and insurance companies are warning homeowners that claims could be rejected.


While holiday selfies may seem like harmless fun between friends; social media sites are being used by burglars to find unoccupied properties. The police have issued repeated warnings about cyber savvy criminals using facebook and twitter to find easy targets, but careless homeowners are still being caught out

Most home insurance policies contain a ‘reasonable care’ clause which places a responsibility on homeowners to look after their possessions. It’s a common sense approach and anyone who fails to lock their doors or close their windows shouldn’t be surprised if a burglary claim is rejected.

Similarly advertising the fact that you are away from home can be grounds for rejecting a burglary claim and some insurers have started checking homeowners’ social media account

A spokesman for the Financial Ombudsman Service commented “you wouldn't put a poster up on your front lawn saying you're going on holiday”, and the Associatio of British Insurers warned homeowners to “think carefully about what you put on social media

It’s difficult to think of a more depressing way to end a holiday than returning home to find that you’ve been burgled, only to then discover that you’ve invalidated your insurance. Instead keep your selfies to yourself, don’t check-in with Facebook Places and save your status updates for when you get back.

Don't forget to ensure you have your holiday insurance sorted before you go!

Article courtesy of quotelinedirect.co.uk & http://www.quotelinedirect.co.uk/house/

 

Finding thatched roof insurance

For a whole host of reasons, most insurers will not entertain the idea of providing cover for a property with a thatched roof.

The property may have a romantic feel and look good, but homes with thatched roofs come with a variety of problems and risks that insurers are inclined to avoid.

Property owners with thatched roof homes have probably already discovered the difficulties in finding insurance cover.

Among the reasons for not offering insurance is that thatched roofs are costly to repair - an insurer will want to know when the thatch was last replaced, although a good roof should last for up to 50 years.

Article courtesy of quotelinedirect.co.uk

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Landlord insurance buyer’s guide

Landlord insurance is often sold on price rather than the depth of cover, so property investors should dig deeper in to their policies to understand just what they can claim for.
One family recently picked up a £20,000 tab after a drugs gang moved in to their three-bedroom buy to let and wreaked havoc growing cannabis – but their insurance claim was rejected because the policy failed to include a malicious damage clause.
So what is landlord insurance and what cover should a property investor go for?

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Life insurance helps more people than ever

Death is often referred to as ‘the last taboo’ but recently British attitudes towards death have begun to change. As a nation we are more willing to talk about our own mortality and we are more willing to make financial plans for an uncertain future. A report by the Association of British Insurers (ABI) has revealed that insurers paid out nearly 25,000 life insurance claims last year with average payouts topping £26,000.

Article courtesy of quotelinedirect.co.uk

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Buy to let insurance guide for new landlords

Buy to let insurance is a specialist package designed to protect a property investment.

Property for rent must have specialist cover - standard home insurance will not pay out if a lodger or tenant is in residence.

Like many other insurance products, buy to let cover comes with several optional extras, so to help new landlords choose the best cover, here are some important points to consider:

  • Buildings insurance - landlord insurance offers this basic cover
  • Landlord liability - This protects the landlords from legal claims by tenants and other visitors to the property. The policy will pay compensation if someone is killed, injured or falls ill due to an incident on the property
  • Landlord contents  - This cover safeguards items up to the insured value left in the home by the landlord, like furnishings, white goods, carpets and curtains.
  • Rent guarantee - This option pays legal fees and unpaid rent covering the eviction of a tenant in arrears.

Article courtesy of quotelinedirect.co.uk

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Car and Home Insurance Renewals to be More Transparent

When it comes to renewing your car or home insurance knowledge really is power. After all, how can you compare costs if you can’t remember how much you paid last year? And that’s exactly why we welcome moves by the Association of British Insurers (ABI) to make the renewal process more transparent.


The ABI has written to the Financial Conduct Authority (FCA) and made the following proposals:

  • Insurers must include last year’s premium in any renewal documentation
  • Insurers must clearly spell-out if any ‘introductory offers’ are no longer applicable

Article courtesy of quotelinedirect.co.uk

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