head office
This user hasn't shared any biographical information
Posts by head office
Organising a Diamond Jubilee party? Get insured
May 16th
Thinking of organising a small get-together with friends, family or neighbours? Maybe you would like to organise something on a larger scale? Whatever the weather, insurance for your celebration is definitely worth considering, and in some cases, necessary. But, where do you begin?
• At home – your home insurance will provide cover for informal gatherings of friends and family, providing you are not charging them (unlikely). There are some restrictions in a standard insurance policy that might affect you though. For example, theft is only normally covered if it was a result of violent and forcible entry.
• Small parties – if you are planning a small, not for profit gathering in a public place, like your street, then you will probably need public liability insurance. You normally need permission from your local authority to have the party and they lay out the type of insurance cover you must hold and the indemnity limits the policy must provide. Some authorities demand a minimum of £5 million worth of cover, other less.
• Larger parties – if you’re running an event for profit the venue you choose will have some insurance cover for their property but not for the actual event – that will be down to you. Where profit is the driving force and people are paying to attend public liability cover will not, by itself, be sufficient. In addition you will probably need to consider cover for cancellation, abandonment and equipment hire.
If you would like more information on planning a not for profit celebration try the following websites:
http://www.thebiglunch.com/index.php
http://www.streetparty.org.uk/
Talk to us if you need help deciding if you need insurance for your celebration and we will make sure you get the right cover.
200,000 homes ‘struggle’ for #flood insurance – is there a solution?
May 16th
With a soon-to-expire ‘Statement of Principles’ and no clear replacement up to 200,000 homes could struggle to get insurance against flooding next year.
The good news is that the LGA (Local Government Association) has written to the government and insurers calling for change, stating that a potential risk of £11bn could become an actual burden if more devastating flood scenes occur. Those guaranteed to be able to find an insurance product for their homes might not be so lucky next year as the current government agreement with the insurance industry will run out, leaving many homeowners in doubt over their protection policy.
Nick Starling, director of general insurance at the Association of British Insurers, said that the government needs to “work with us to ensure that a sustainable flood insurance market is in place once the agreement ends in June next year.” It looks unlikely that councils will want to foot the bill should more destruction occur especially if previous years of flooding are anything to go by.
Many suggest that a cooperative effort is necessary to keep people protected, in terms of government investment in flood defences and manageable insurance policies. We agree that it is up to the insurance industry to help people manage risk and to ensure that buyers are not priced out of home insurance because of potential flooding in ‘at-risk’ areas. That is why we are committed to providing a range of competitive flood insurance policies to our clients that will ensure protection wherever they live.
Government aims to weed out fraudulent #insurance claims
May 8th
With the cost of whiplash running at around £2bn a year, the government is stepping up its attempts to weed out fraudulent and speculative personal injury claims.
A motor insurance summit last month came up with a number of proposals to tackle ‘questionable’ medical evidence and help the insurance industry challenge the rising tide of spurious claims. Fraudulent personal injury claims are responsible for adding around £90 to the price of every motor insurance policy in the UK and the government is keen to add new powers to help insurers discriminate between false and legitimate insurance claims.
A consultation paper is expected this summer which will conclude on the feasibility of various measures such as introducing independent medical panels to arbitrate on claims.
#floodwarnings across UK, many homeowners may lose cover next year
May 1st
After 10 days of torrential rain, many parts of the UK are currently braced for rising water levels and the possibility of flooding. It’s a nasty reminder that, for many of the UK’s most vulnerable households, time is running out on their home insurance. The voluntary agreement between the government and the insurance industry to guarantee flood cover for all of the UK’s homes expires in June 2013 and there is no clear indication what will replace it.
The increased chance of flash floods in the last few years has left hundreds of thousands of homes across the UK at risk of flooding. With the expectation being that extreme weather will become more common over the coming years, the government and the insurance industry came up with a ‘Statement of Principles’ that obliged insurers to continue to provide cover and obliged the government to invest in flood defences. The agreement is far from perfect and is coming to an end next year, meaning that hundreds of thousands of homeowners many not be able to get insurance for their homes.
With discussions between the government and the insurance industry currently going nowhere, 2013 is set to be a challenging year for those at risk of flooding. We’re making every effort to offer our customers the most cost effective flood insurance on the market so why not call us today to see how we can help?
New clampdown proposed for whiplash claims #insurance
Apr 24th
With the cost of fraudulent personal injury claims adding around £40 a year to every driver’s premium, the government is stepping up its campaign against the fraudsters and ambulance chasers.
Plans announced last week by the transport select committee aim to clamp down on fraudulent claims with measures designed to promote greater transparency. At the heart of the committee’s proposals are plans to make the DVLA driver record database available to insurers, allowing them to check the details that are provided on an insurance application form. The thinking behind this is that this additional information should enable insurers to make better informed judgements about who they ensure and for how much.
So far, the measures announced by the committee have been met with approval by the industry as a whole. We agree that more steps need to be taken in order to reduce the risk of fraud and bring premiums down.
1 in 4 would break the law to get lower #insurance costs
Apr 17th
14% of drivers have illegally insured their children to drive according to data from a new survey. What’s more, a further 13% would do the same if they had kids.
It seems that the practice of pretending to be the main driver (know as ‘fronting’ in the trade) isn’t seen to be a problem by a significant majority of drivers. In fact, there seems to be quite a lot of uncertainty as to the status of fronting, with 25% of those surveyed believing that it was perfectly legal and and a further 30% undecided.
It’s clearly quite important for the industry to clear this uncertainty up and get the message across load and clear as fronting is probably the most commonly practiced insurance fraud in the country. The penalties for insurance fraud can be severe and can lead to court proceedings.
There are better ways to save money on insurance for young drivers.
#Flood #insurance – uncertainty just months away
Apr 12th
The British Property Federation (no, us neither…) have issued a warning calling for urgent action to create a new settlement between the government and insurers as the clock ticks down on the existing statement of principles.
With the current arrangement due to expire next year, time is running out for hundreds of thousands of households across the UK. With no replacement agreement looking likely, homeowners in flood blighted areas are facing the prospect of an uncertain future.
With the insurance industry and the government at loggerheads over the future of flood insurance and 2013 renewals looming, the onus is falling on homeowners to find themselves a competitive quote. We’re taking a ceraful look at flood insurance and will be working to provide our customers with competitive flood cover wherever they might live. If you’re concerned that your home might be uninsurable, give us a call to see how we can help.
Make sure you are insured against arrears #buytolet
Apr 5th
With rents on the rise and demand for rental property increasing, it seems like a golden age to be a buy to let landlord. There is one cloud on the horizon though that all landlords should consider.
Figures relating to arrears and evictions are also on the rise. The number of tenants with with more than two months arrears increased by a massive 11,400 in the last 12 months and evictions rose by 11% in the same period. So if the risk of default is increasing, what are your options?
Quite simply, the best thing to do is insure against that risk. Most comprehensive buy to let insurance policies will allow you to insure against loss of earnings and legal costs if your tenants default and are unable to pay. This low-cost addition to your monthly outgoing will protect your revenue if a tenant defaults and cover your legal costs if the situation deteriorates.
#floodrisk – Environment Agency and ABI disagree on numbers
Apr 2nd
Certain parts of Gloucestershire are the focus of heated debate at the moment, as the Environment Agency (EA) and the Association of British Insurers (ABI) argue over exactly how many homes are designated as being at risk of flooding.
As an area that’s been affected by flooding in the last decade, the Five Valleys region in the Stroud district is likely to have a number of areas deemed at risk. What’s in dispute however, is the number of homes that fall into the ‘at risk’ category. Local campaigners point to a massive discrepancy between the EA’s figures and those given by the ABI. While the EA estimate that 400 properties are in danger, the ABI put the figure at 866, meaning that hundreds more homeowners will face insurance related problems when the Statement of Principles comes to an end next year.
It’s a tricky situation as the ABI tries to balance the interests of its members with the needs of homeowners across the UK. The coming 12 months is likely to be a stressful time for many homeowners in areas that are threatened by flooding but help is at hand – we’re preparing to offer a wide range of flood insurance policies that will ensure your home is protected at a reasonable price, wherever you live.
Watch this space…
Tougher rules needed for comparison sites
Mar 27th
Consumer group Which? has called for tougher regulation to ensure that price comparison sites treat their customers fairly.
Which? tested 11 of the most popular online insurance sites and found that many of them used misleading, pre-selected assumptions in order to make prices appear cheaper. Besides being misleading, Which? points out that this can lead to a ‘one-size-fits-all’ approach to insurance policies that are unsuitable for individual needs.
The group also highlights low levels of customer satisfaction with comparison sites, falling from 46% to 42% over the last 12 months. The study found that none of the 11 sites covered by the survey actually covered more than one third of the market for home and travel insurance. This is despite their suggestion that customers have no need to look elsewhere for the best deal.
In summary, Richard Lloyd of Which? said, “Price comparison sites claim to do all of the work for you, but our research found if you want to get the best deal you still need to shop around or it could cost you hundreds of pounds.”
We couldn’t have said it better ourselves…