Could Social Media Lead to Break-ins at Home Whilst Occupants are on Holiday?

For many years the dangers of using social media outlets to publicise the home have been reported-on regularly. From Facebook groups that publicise a party to the posting of home addresses on profiles, there are many ways in which thieves can use such sites to decide on their targets. But another way in which thieves are getting an easy ride from social media sites is through the posting of holiday details. So if home owners do not want to face making a claim on their home insurance then ensuring that they do not publicise the times in which their property is empty could be a first step. read more »

Insurance Providers LV= Encouraging Customers to Keep Their Gold Insured

With any form of insurance one of the areas that customers are encouraged to keep an eye on regularly is whether certain areas are covered by their policy. So when there were threats of BA cabin crew workers going on strike those with travel insurance were told to check that they would be covered in such a situation. read more »

MoneySupermarket Gives Away Tips on Saving Money Next Year

2010 is just around the corner and as ever many people will be looking for new insurance policies for their homes, whether they are updating their existing agreements, searching for new ones or moving home. read more »

AXA Insurance Point out That Plumbing Issues Could Be a Bigger Threat Than Burglary

When we think of protecting our home over the Christmas period we tend to cast our minds to burglars that might target presents in the household; indeed, a recent Press Release from MoneySupermarket.com warned homeowners to check their contents insurance policies to find out if the extra gifts in the household were covered. read more »

Christmas Shoppers Urged to Check Their Policies

Let’s face it, there’s a lot to consider at Christmas, from making sure the Christmas shopping is done to ensuring we have the right ingredients in time for Christmas dinner. However, once the gifts are bought and wrapped and the Turkey is ready to be cooked, there is one other thing that homeowners should check before settling in for Christmas Day – their home insurance. read more »

Research Reveals Many Homeowners Do Not Have The Right Level of Insurance

When we are seeking insurance we will at some point need to estimate how much our household items are worth and whilst we can determine items such as televisions and freezers rather easily, it can be harder to come up with a total price for other areas.

Items such as DVD collections and a wardrobe of clothes can be harder to determine and so we must think of other ways to determine their worth. But this could mean that many people out there are underinsured when it comes to home insurance.

The home insurer LV= recently unveiled the results of the study carried out on their behalf by Opinium in September 2009, which reveals the true extent of the problem and particularly highlights the amount of people who are seriously undervaluing their clothes collection.

According to LV=, people on average tend to estimate their clothes at around £1,600 and £1,300 when it comes to jewellery and watches. However, the true values could be much higher, with experts at the insurance company estimating that the average female wardrobe could be worth as much as £7,000, with a further £2,000 added when factoring in jewellery and watches.

Men’s wardrobes are estimated to be worth slightly less than women’s, but at £5,000 this still comes in much higher than the amount for which is being insured.

It means that if a household is targeted by thieves, succumbs to flooding or is hit by fire or any of the other dangers facing the home, then people will be left seriously out of pocket when they try to replace lost or damaged items.

“When valuing their contents people just tend to think about expensive jewellery, electronics and items of furniture such as sofas, beds and dining tables and forget how much it would cost to replace their clothing, shoes and everyday jewellery should the worse happen,” said Emma Holyer of LV= Home Insurance.

She continued: “Although it’s a relatively small percentage of claims where we see an entire wardrobe’s contents destroyed if you are underinsured you could find that your insurer will reduce the amount they pay out to reflect the cover taken out.”

As a result, when it comes to valuing possessions in seeking insurance, it might be wise to consider the individual costs of items rather than simply thinking of one overall amount. It is also wise to be aware of the specification of the policy so that you are not caught out in the long run.

Source: LV= Press Release Oct 2009

Burglars Targeting Mundane Items in the Home

When we think of protecting our homes, our first thoughts turn to valuables that are the more obvious targets of thieves. This is why we ensure we have secured items such as wallets and made sure items such as the television and other hi-tech electronics equipment are covered by home insurance. Recently home owners were even warned to make sure personal documents were safe so as to avoid ID theft.

But now home owners are facing the threat of even the most mundane of household items being stolen. According to Direct Line Insurance, burglars are beginning to target items such as hoovers, kettles, toasters, microwaves, fridges and tumble dryers. It shows that during harsh economic times like the current recession, thieves will target almost anything.

Indeed, Direct Line also reveals that burglars are helping themselves to even more unusual items. With TVs, computers and cameras still the number one targets for thieves, some have also been known to steal beard trimmers, electric toothbrushes, dishwashers and epilators.

Direct Line cites reports of items that had to be replaced through insurance claims during a six month period from March 2009 to August 2009. The total area sourced was 20,782 items across 9,326 claims. Within them, 50 hoovers were stolen, 26 microwaves and 16 toasters.

Andrew Lowe, the head of Direct Line Home Insurance comments on the figures: “Where most people would go to the likes of Argos or John Lewis to fit out our homes with basic appliances, thieves seem to be using the recession to do their shopping in other peoples’ homes”

Having any kind of item stolen from the house can be difficult to deal with, not only because it is a nuisance but because it is an invasion of personal space.

Lowe highlights the burden of a break in: “While it can be heart-breaking to have a family heirloom or special piece of jewellery stolen, it can also be annoying to have your kettle or tumble dryer go missing.”

Home owners are encouraged to have good security measures for their home (as well as having good home insurance as well), which will help in combating thieves who target items such as washing machines. After all, whilst we can hide money and smaller items away, hiding a washing machine or fridge could prove to be a little more difficult.

Source: Direct Line Press Release

With the UK Population Enjoying Cycling, Bike Thefts Are On the Rise

Cycling is a pass time enjoyed by a large number of people, allowing people to ride to beautiful locations in the UK and offering a fun way of exercising.

As a result, it is no wonder that recent years have seen more and more people turn to bikes, with 2009 seeing more bikes sold in the UK than in 2008. It has been great news for bike shop owners and even better news for those who have tried to encourage people to keep fit and healthy.

But with a rise in bike owners comes a rise in bike theft, with Marks and Spencer highlighting the need of insurance in light of recent statistic from the British Crime Survey. They reveal that around 540,000 bikes were stolen in the period from 2008 to 2009, which represents a worrying rise of 22%.

According to Transport for London, this is a particular problem in the nation’s capital, where a reported 545,000 bike journeys take place on a day to day basis. In London, 80,000 bikes are said to have been stolen, with accounts for around £12 million worth of bikes taken from owners during 2008.

It is an alarming figure and one that is prompting Marks and Spencer insurance to encourage bike owners to ensure that they are adequately covered. Bikes are often included in home contents insurance when they are within the property, so if a bike is stolen when it is stored safely at home, then as long as the policy dictates as such the owner can make a claim.

But ensuring the safety of our bikes goes beyond insurance and bike owners are also warned of the need to keep their bikes secured at all times. This includes storing them in a secure location, locking them when you away from home, registering the model and being sure to phone the police if anything happens to them.

“Bikes are a prime target for thieves and it’s important to make sure you are insured in case your bike is stolen or damaged,” said Steve Price of M&S Insurance, who is one of many who hopes people will take care of their bike, “Simple measures like leaving your bike in a well-lit area and using a good quality lock can deter a would-be thief.”

So if you are one of the many people who have taken up cycling in the last year or so, perhaps it is time to take steps towards better protection for what can be an enjoyable form of transport.

Source: M&S Press Release September 2009

Not Doing Enough to Secure Homes, says esure Home Insurance

It is a message that is regularly heard coming from insurers all over the world – make sure your home is properly secured and avoid taking unnecessary risks with your belongings.

Now esure Home Insurance is adding to the calls, claiming that homeowners are still taking too few steps to protect their properties. This includes homeowners failing to properly conceal their keys outside and failing to securely shut doors and windows.

With Sainsbury’s Finance recently reporting that burglaries and other types of theft are on the rise, the message, based on research carried out by the home insurance firm, comes at a particularly important time.

The results of their study found that as high of 42% of those asked admitted to leaving the house whilst failing to lock the back door, with a further 64% failing to shut windows in their absence.

Home Insurance companies expect homeowners to do everything they can to properly secure their homes and if they find that the owner is at fault following a burglary, they could decide not to pay out.

“Most burglars are looking for an easy target and leaving windows and doors unlocked is practically inviting them in,” said Mike Pickard, the Head of Risk and Underwrting of esure, “Homeowners should make sure their property is as secure as possible because if they can’t prove to their insurer that they took steps to keep their home and contents safe – then a claim may not be paid out.”

The Home Insurer is particularly concerned by the number of people hiding a front door key outside in the event of losing the original key or misplacing it when returning from a night out. 39% of those surveyed said that they hid it in the garden. esure urges people to choose hiding places that are sensible and if possible, avoid doing it at all (particularly as you could be spotted by a thief doing so).

They cite 7% of people who have been burgled as a direct result of someone finding the spare key hidden outside. Insurers are unlikely to pay out if a thief was easily able to find their way into a property.

Last month it was also reported by LV= that people are hiding to many important documents in the same place, so whilst personal belongings and property are being left at risk, people are also leaving themselves open to ID theft.

Sources: esure Press Release, Sainsbury’s Finance Press Release & LV= Press Release

Sainsbury’s Home Insurance Warns People Against ‘Dumming Down’ Their Policies

 Over the last year or so, we have all been feeling the burden of the global financial crisis and in times of financial hardship it is not uncommon for people to cut back in certain areas to make ends meet.

However, Sainsbury’s Finance is warning against the current trend of cutting back on Home Insurance and other important areas as this might lead to greater financial hardship in the future.

Whilst it might seem desirable to cut out the cost of home insurance altogether, particularly if a person has not had to make a claim for a long time, the costs of putting things right should something occur without cover outweighs any such benefits.

The leading insurance provider cites figures that demonstrate how many people have cancelled or failed to renew they home insurance policy over the last year. According to the figures from ABI, 1 in 4 people fall into this category.

Ben Tyte, the Home Insurance Manager for Sainsbury’s Finance warns of the false economy associated with insurance cancellation, “In the current economic environment many people are looking to dumb down on their insurance or do away with it completely in order to save money.

“However, this is a false economy because if disaster strikes they could be left in ruin.  Rather than risk inadequate cover, they should shop around for better deals – it is possible to find quality cover at a competitive price – and find a policy that does not penalise them for paying on a monthly basis.”

As a direct result of this Sainsbury’s Home Insurance is offering a no claims discount of 30%, unlimited buildings cover and the chance to spread out the costs over a year without cost.

Recently, Sainsbury’s released figures pointing out that whilst the amounts of burglaries have been on the rise, the number of people making claims on their insurance has in fact dropped, leading some to conclude that it demonstrates that some people are underinsured. It means that whilst everyone should take effort to ensure they have home insurance, they should also check that their current policy adequately covers their needs.

Source: Sainsbury’s Finance Press Release Nov 2009