| The recent severe weather has brought misery to | | | | Home insurance is normally separated into two types |
| many people as a result of unprecedented levels of | | | | of cover, buildings insurance - this covers the structure |
| flooding. The floods have highlighted that for many | | | | of your home and fixtures and fittings, and contents |
| people flooding is fast becoming a fact of life with | | | | insurance - which covers all furniture and personal |
| more than 2 million homes now at risk from coastal or | | | | possessions, basically everything you'd pack up and |
| inland flooding. | | | | take with you if you moved. |
| The Association of British Insurers (ABI) estimates that | | | | You can have both types of cover combined into one |
| some 27,500 homes and 7,000 businesses were | | | | policy through one insurer or insure your buildings and |
| affected by the floods and the total cost of claims is | | | | contents separately though two different insurers. |
| thought to be 1.5 billion pounds. The clean up is now | | | | Cover will normally protect building and contents |
| well underway although there have been some media | | | | against the major risks of fire, storm damage, flood |
| reports that Insurance Companies have been dragging | | | | damage and theft, policies may also cover many |
| their feet and slow in processing claims. | | | | additional risks as well. |
| The Government met the ABI on 10th July 2007 | | | | Home Insurance quotes are rated on many factors |
| Following the meeting Stephen Haddrill, ABI Director | | | | including post code, occupation, type of property, and |
| General said "Insurers are doing all that they can to | | | | age of property. Insurers will often require adequate |
| deal with the impact of the floods, including getting | | | | security including window locks and door locks. Insurers |
| people re-housed in temporary accommodation and | | | | will often offer discounts for example for being a |
| making provision for early payments to help deal with | | | | member of a neighbourhood watch scheme or having |
| immediate hardship. Where cover has been taken out | | | | an intruder alarm fitted. |
| against business interruption through flooding insurers | | | | Nowadays there are many methods to obtain home |
| are helping those businesses to keep trading." | | | | insurance, often it is set up at the time of house |
| The floods have highlighted just how important it is to | | | | purchase where the mortgage lender will insist that |
| have the right building and contents insurance cover in | | | | building insurance is in place before they will lend the |
| place. Tragically many households had no insurance in | | | | money. Alternatively people may use an insurance |
| place at all, some estimates put people holding no | | | | broker, high Street bank / Building Society or you can |
| home insurance as high as 25 percent. | | | | get a home insurance quote on line via the internet. |