Insurance Articles and News
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• Insurer highlights Brits NYE fright
  Many Brits are so anxious of becoming the victim of a crime on New Year's Eve that they are willing to stay at home in order to look after a property, according to one insurer. Abbey Home Insurance has published research which reveals that 16 per cent of those quizzed will be spending the last night of the year at home.Furthermore, an estimated 77 per cent of Brits told their
• Drivers 'must keep insurers updated'
  Motorists heading abroad to celebrate New Year should keep their car insurance providers up to date.Consumers should ensure that their cover is extended before setting off on driving holidays, according to advice from More Than.The car insurance provider has suggested that the further away drivers take their cars, the more expensive cover can be."What customers should do is, if in the UK they have comprehensive cover and they want the
• Insurer reveals 'Boxing Day spike'
  The value of home insurance claims has been seen to shoot up on Boxing Day, according to one insurer.Sainsbury's Bank has revealed that on the day following Christmas the average value of claims came to £2,209.31, a marked increase on the £658.28 average.Further statistics show that 12 per cent of all claims during the month of December arose from an incident which occurred on Boxing Day.Sainsbury's head of home insurance
• Home insurance 'a must' at Christmas
  Home insurance is a must-have financial product over the Christmas period, according to industry advice.The British Insurance Brokers Association (Biba) has reminded consumers that opportunistic thieves strike in the run up to Christmas, meaning that insurance is a necessary purchase.Steve Foulsham, technical service officer at Biba, said that after this year's floods people who choose not to take out home insurance are "deluding themselves"."In the light of all that coverage,
• Santa would find acquiring policy hard
  Father Christmas would find it extremely hard to acquire an insurance policy on his vehicle over the festive period, according to one provider.Elephant.co.uk has pointed out that a number of factors would prevent insurance companies giving Santa a deal.The 64,000 miles around the world that he has to travel on Christmas Eve, as well as the tendency to accept the alcoholic offerings left for him by families, would count against
• Destructive kids cause millions worth of damage
  Children are causing millions of pounds worth of damage to their parents' houses every year, making accidental damage cover essential, says Halifax Home Insurance.New research shows that £122 million costs are incurred by clumsy kids, with boys 20 per cent more likely to break or damage items than girls.It was found that some homes suffered damage up to the value of £10,000, while spillages affecting floors and carpets are seen
• Coming of the frost will see theft claims rise, says BIBA
  As millions of motorists start to spend mornings defrosting their vehicles at this time of year, the number of theft claims rise as cars are left unattended, according to the British Insurance Brokers Association (BIBA).Technical and corporate affairs executive at BIBA, Graeme Trudgill, has advised car owners to stay with their vehicles while defrosting them.He pointed out that any theft claims made following such an incident could be contentious as
• Co-op's Xmas gift for flood victims
  Co-operative Insurance has announced it will be handing a Christmas gift to those of their customers still feeling the effects of this summer's floods.The insurer processed 4,500 claims following the washouts of earlier in the year and though many have been settled, 500 households will still be in alternative accommodation over the festive period.With this in mind, Co-op has confirmed it will be making a £100 payment to those still
• High cost of living leads to underinsurance
  The increasing cost of living has led to many Brits being left underinsured, according to one financial services provider.Sainsbury's Finance has presented research which suggests the reason why 21.9 million people had opted out of purchasing one or more insurance products was the rise of living costs, which saw a rate of 4.2 per cent in October and November of this year.It was found that some 13 per cent of
• Low levels of fraud in life insurance, says ABI
  There is a very low incidence rate of fraud relating to life insurance policies, according to the Association of British Insurers (ABI).In wake of the high-profile case of missing canoeist John Darwin and his wife Anne, ABI spokesman Jonathon French stressed that such circumstances were not normal.He said: "We haven't made any specific comments about this case but it is safe to say that it is a very unusual set
• New console poses risk to TV sets
  The risk a popular new games console poses to TV sets means it is sensible for homeowners to check that they have an adequate home insurance package in place, one provider has advised.Halifax Home Insurance has highlighted the damage that can be caused by overexcited players on the Nintendo Wii, with control pads often being accidentally launched across the room, hitting the TV.Many games on the Wii require participants to
• M&S offer 24-hour 'petline'
  One provider of pet insurance has offered a 24-hour hotline for the owners of pets.Part of a new M&S Money pet insurance deal includes phone line through to qualified veterinary nurses.The insurer is also offering discounts on medicine and pet food, as well as lifetime cover on premier and standard policies."M&S pet insurance has always provided customers with the reassurance of lifetime cover for their pets," commented Judith Roberts, M&S
• Comparison sites can bring "big savings," says consumer group
  Using comparison sites wisely can lead to big savings, one consumer group has pointed out.Consumer Direct has advised using multiple comparison sites in order to work out the best deals.The organisation also recommended that customers look at the whole deal, looking for add-ons such as postage and packaging as well as the basic price.A Consumer Direct spokesman commented: "Comparison sites are a good means of comparing deals. "We'd advise using
• 'Postcode can affect premiums'
  Homeowners living in places rife with crime are likely to have their home insurance premiums impacted upon, one insurer has suggested.A Liverpool Victoria (LV=) spokeswoman admitted that nature of the area surrounding a home can have a big say in the price of the contents cover to its occupants.Emma Hoyler also recommended some measures that can be put in place to secure a property further and hopefully reduce premiums.She said:
• 'Life insurance policies should be reviewed regularly'
  Life insurance policies should be reviewed regularly in view of any changes to the circumstances of the holder, one independent financial advisor has suggested.Director of Life Direct Kieran Platt has highlighted how events such as having children or moving house could have implications for life cover and that it is "extremely important" to update details.Mr Platt spoke of his concern that many families were ignorant to the need to check
• Students urged to check policies before heading home
  Students have been advised to check their home insurance policies before heading home for Christmas.Malcolm Tarling, a spokesman for the Association of British Insurers (ABI), has pointed out that while at home for Christmas, students will be leaving items un attended in the property which they stay in at university.Mr Tarling recommended that students clarify if their home insurance p