Archive for the ‘Insurance Advisor’ Category
Homeowners should check insurance as winter arrives
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As the UK endures sub-zero temperatures and heavy snow, homeowners are being
warned to make sure they have a good insurance policy to fall back on.
Insurance claims increase sharply at this time of year, with frozen pipes
and broken-down boilers just two of the most common problems faced by
homeowners.
UK sees temperatures fall and claims soar
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As the mercury plunges the number of claims regarding burst and frozen pipes has rocketed, Lloyds TSB Insurance has stated.
The insurer has seen such claims increase sevenfold, with 5% of home insurance claims relating to burst/frozen pipes, and is urging homeowners to take steps to reduce the risk of suffering such problems.
Burst pipes can cause serious, extensive and expensive damage to homes, damaging structures and electrical wiring.
The risk is unlikely to diminish in the near future with the Met Office issuing a series of severe weather warnings throughout the country, particularly in Scotland and North-east England.
Lloyds TSB Insurance’s Tim Downes has stated that the average cost of repairing a burst pipe is £2,000, a hefty sum which is well worth taking precautionary measures to avoid.
The insurer advocates insulating lofts, pipes and water tanks, and leaving the heating on low to prevent freezing.
Homeowners should also know where their water stop tap is, and how to turn off the mains supply if necessary.
Home insurance is not the only type adversely affected by the winter weather, with AA Insurance reporting a spike in car insurance claims of 23%.
Hiscox issues burst pipe advice
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Home and contents insurer Hiscox is advising home owners to be on the look out for burst pipes.
When the snow and ice begin to thaw leaks caused by burst pipes may become more noticeable, as water leaks into the property.
Hiscox home insurance expert Austyn Tusler explained that the unusually early onset of freezing conditions may have caught homeowners off-guard, and warned that there was still a long winter ahead of the UK.
If left, a leak can cause damage to a home’s structure, electrical wiring and belongings and catching them early saves not just money but also reduces the damage incurred.
Leaks can be identified by damp spots on ceilings and walls and if a tap is turned on and no water comes out (in which case the water supply should be turned off and a plumber called immediately).
Homeowners should also check exposed pipes and isolated areas such as lofts.
Earlier this week the Association of British Insurers (ABI) warned that frozen and burst pipes could cost as much as £650m, and urged homeowners to either keep their heating on or (if they are away for a porlonged period) draining the cold water system.
Perkins Slade offers weather tips
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Following the early incidence of winter weather, and with a prolonged cold snap forecast, independent broker Perkins Slade has offered homeowners tips on how best to safeguard their homes from the wintry weather.
Homeowners should check their central heating and ensure the thermostat is working properly, and those with older boilers should consider installing frost thermostats.
In addition, heating should be kept on constantly, including overnight, to prevent pipes freezing and then bursting.
Perkins Slade also advocates lagging exposed pipes and making sure that the means of turning off the main water supply is known.
Should the home be vacant for a period of time the central heating system should be drained and the main water supply turned off, or the heating should be kept on at 10C.
According to BBC weather forecasts the cold weather, including the earliest snowfall for over a decade, could last two weeks.
Affordable Car Insurance – Factors to Consider
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As soon as you start shopping for a car insurance company, you are flooded with “lowest rates” and “cheapest insurance” offers. Before you take the plunge consider some important factors that actually make car insurance affordable.
In order to have better control over rates, it is necessary to be careful in selecting the appropriate coverages and features that make your car insurance meet all your needs. It’s also important to look for an insurance company that gives you fair, prompt and reliable customer service at good rates. Affordable car insurance needn’t be a far fetched dream if you spend some time understanding your requirements before buying your policy.
State Laws- A good starting point is to know the minimum insurance cover you must have in accordance with your state laws. Car Insuran
Near-Miss for Cruise Ship Shows the Importance of Cruise Insurance
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Travelers on a cruise line recently found themselves narrowly escaping what could have been a tragic situation. While cruises offer an economical and convenient way to visit popular vacation destinations, there is always danger anytime you head to sea. You’ll want to be sure that when you take a cruise, you are protecting yourself from that danger by purchasing cruise insurance.
In the event in question, a cruise ship that had begun its voyage in Europe narrowly squeezed under a bridge in Denmark on its eventual path to Florida. Thanks to some clever maneuvering by the ship’s captain, what could have been a terrible accident was avoided. But what if it had not? Read more…