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Home insurance policies growing in number

The last three years has seen a marked increase in the number of home insurance policies available on the market for consumers, new research has shown.A study published yesterday (July 18th) by Defaqt...

The last three years has seen a marked increase in the number of home insurance policies available on the market for consumers, new research has shown.

A study published yesterday (July 18th) by Defaqto revealed that, since 2008, there has been a 19 per cent growth in terms of the number of contents and buildings insurance deals on offer from banks and building societies.

Furthermore, there are now 18 per cent more financiers providing such products, while the independent research firm also established that the majority of consumers are now comfortable with taking out annual insurance for their property via the internet.

Brian Brown, head of consulting at Defaqto, suggested better deals could be on the way for households in the near future as "insurers need to stay ahead of the competition to capture and retain market share".

Music fans heading off to festivals this summer must update their home insurance policies if they are planning to take expensive gadgets with them.

That is the advice given by Andrew Hagger, spokesman for online resource Moneynet, who recommended adding items such as smartphones and iPods to contents and buildings insurance documents before leaving home for these events.

A study published yesterday (June 20th) by the organisation showed that 34 per cent of attendees will take a smartphone with them.

Meanwhile, 76 per cent will use their digital camera at a festival this summer.

Gerry Barrett, head of home insurance at the Post Office, called on people to "make sure any valuable items are fully protected against loss, damage or theft" by analysing their annual insurance cover before deciding what to take with them.

However, while Mr Hagger noted it is possible to get such valuables covered by a household's annual insurance, the best option for revellers attending the likes of T in the Park - which gets underway on Friday (July 8th) - is to leave these products at home.

The expert stated it is "common sense" to avoid the risk of taking valuables as "if you take all your bits and pieces with youArticle Submission, it can weigh up to quite a bit of money".

Research conducted by Endsleigh recently showed that all students going to a festival in the coming weeks and months will be taking a mobile phone with them.

Article Tags: Home Insurance Policies, Home Insurance, Insurance Policies, Annual Insurance

Source: Free Articles from ArticlesFactory.com

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