Best Home Insurance Blog

Common Mistakes to avoid when purchasing Home Insurance

admin — Sat, 11 Feb 2012 03:46:37 +0000

Gathering home insurance quotes can be a lengthy and exhausting process. With varies forms, checks and phone calls to be made, home owners can soon become tired with the whole process. Finding the best deal to suit a home and its occupants can be difficult with so many companies competing with each other to win custom.

There are several mistakes that homeowners make when taking out or renewing their home insurance. These mistakes can cost families hundreds of pounds in unwanted and unnecessary cover. Here are the main errors:

Cover

Depending on where a property is situated, earthquake, flood and hurricane cover will be optional. For those households who live in an area of high risk it is strongly advisable to include this; some insurance providers will include this cover in the policy automatically, others will provide you with the option. Areas of little or no risk at all should double check that they are not being charged for this cover, as it can cause payments to increase dramatically.

Contents

Households can changer overtime, seeing many people come and go, along with their belongings. Expensive jewellery, appliances and electrical items will all require extra coverage to protect an individual financially if they were to be stolen. However, many households will fail to inform their insurer about changes in circumstance and some even find themselves paying for cover on items they no longer have. It is important to keep up to date on all aspects of a policy.

Discounts

Before contacting different companies for quotes, it may be worth contacting an existing insurer who already provides insurance on a different matter. Those who have taken out car insurance with a particular company may find themselves worthy of a hefty discount if they combine the two together. This discount can be up to 15%. It is always worth contacting an existing provider to enquire about reductions in price for loyalty.

Deductible

The majority of households who are already covered by insurance decide to pay for minor breakages and damage with money from their own funds. Although this may seem ideal, as claiming can be time consuming, it means that the insurance that is being paid for is relatively unnecessary. Increasing the deductible will see monthly payments reduce; this means that the home is still covered for any serious damage that may occur whilst household’s finances are protected.

Home Insurance :Resources to monitor UK weather warnings & flood alerts

admin — Thu, 09 Feb 2012 12:26:15 +0000

Time to batten down the hatches. The UK is experiencing one of the stormiest periods it has seen for several years, with heavy rain, high winds and snow. Storms have an enormous impact on properties – causing flash floods and structural damage. The last couple of winters in the

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Time to batten down the hatches. The UK is experiencing one of the stormiest periods it has seen for several years, with heavy rain, high winds and snow. Storms have an enormous impact on properties – causing flash floods and structural damage.

The last couple of winters in the UK have been extremely harsh. It’s estimated that insurance claims for last winter’s storm, snow and water damage exceed £1.4 billion (according to the Association of British Insurers).

Resources to monitor severe weather warnings and flood alerts

Many holiday homes in the UK are located in rural locations, exposed to the elements and are at risk. Monitoring severe UK weather warnings and flood alerts can help prevent damage at your property.

Weather warnings
To monitor the UK forecast and severe weather warnings visit the Met Office.
You can also keep updated on any regional news and weather warnings by following the Met Office on twitter @metoffice.

Flood warnings
To monitor up-to-date information about flood warnings in force, monitor the river or sea levels in your area and check out the latest flood risk forecast for your county visit the Environment Agency. You can also sign up to the Floodline Warnings Direct service to receive warnings by phone, text, email or fax 0845 988 1188.

Keep updated on any regional flood warnings by following the Environment Agency on twitter @EnvAgency. The Environment Agency also has regional twitter accounts for flooding updates by location.

Also, follow BBC Weather for twitter weather updates @bbcweather and the Scottish Environment Protection Agency @SEPAView

Preventing damage

Although insurance protects against unforeseen storm and weather damage, homeowners have a duty to maintain their holiday homes and take reasonable steps to prevent loss or damage. It is not uncommon for an insurer to refuse to pay out for a weather-related home insurance claim where a property hasn’t been maintained to a sufficient standard.

We recommend holiday home owners check their homes are in a good state of repair and ready for winter – use this winter holiday home maintenance checklist for tips

Review your insurance cover

It might be a good time to review your insurance cover. Check with your insurer if you are covered for storm damage or if you have to take out additional accidental-damage to buildings cover. How does your insurer define a storm? Do certain levels of wind speeds and rainfall have to be recorded in order for a claim to be valid?

If you suffer storm damage:
-Contact your insurer as soon as possible for claims advice;
-If necessary, arrange for temporary repairs to prevent further damage and mitigate the loss;
-Keep receipts and take photos, as they will form part of any claim;
-Keep safe.

Related posts:
Flood advice for holiday home owners
Holiday home flood risk: How to prepare for flooding
Flood & storm insurance for property abroad

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Home Insurance :Holiday home insurance winter unoccupancy clause warning

admin — Thu, 09 Feb 2012 12:26:13 +0000

It is likely that your UK holiday home will be locked up and left unoccupied for long periods over the winter. During the ‘empty’ winter period, your holiday property will be exposed to extreme winter weather. The last three winters have been extremely severe in the UK and many

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It is likely that your UK holiday home will be locked up and left unoccupied for long periods over the winter. During the ‘empty’ winter period, your holiday property will be exposed to extreme winter weather. The last three winters have been extremely severe in the UK and many unprotected holiday cottages experienced substantial water damage claims caused by burst pipes.

Last winter alone saw 103,000 property damage claims for burst pipes – at a cost of £680m. Unfortunately, many of these claims could have been prevented if second home owners had taken some simple measures to prevent pipes from freezing and bursting.

At Schofields, we experienced numerous instances where it could be argued property owners were negligent. For example;

Consequently, following significant losses, holiday home insurers have included policy conditions, exclusions and winter warranties that apply when holiday homes are unoccupied.

Unoccupancy conditions, exclusions and winter warranties – check your policy

You should check your most recent policy wording to see what unoccupancy conditions, exclusions and winter warranties apply to you. Ensure you fulfil your insurance obligations to avoid being uninsured.

At Schofields we urge;

Winter heating/water drain down

Whilst the buildings are unoccupied between the 1st November and the 31st March, the central heating system is kept running 24 hours a day to maintain a minimum temperature of 55F (13C), unless all water and gas supplies are turned off at the mains and all water and central heating systems are drained.

Storage heaters

If the property is heated by storage heaters, from the 1st November to 31st March inclusive, the water is turned off at the stop cock within the property when the holiday home is unoccupied.

Note: If you fail to comply with your policy terms, insurance will become invalid in respect of loss or damage resulting from escape of water.

No excuse

There are no excuses for not taking precautions by either adequately heating your property or turning off the water supply when your holiday cottage is unoccupied. In-fact, many heating systems can still operate with the mains water turned off (consult a heating engineer for advice) so you could do both. Remember, as a policyholder you have a duty to take all reasonable steps to prevent loss/damage.

Insurance is to prevent the unforeseen, not the inevitable. When unprotected, water pipes are exposed to sub zero temperatures the inevitable happens – a water damage claim.

What steps would you take to prevent damage if you weren’t insured?

Make sure you comply with your holiday home insurance unoccupancy conditions and winter warranties. If you have any queries please do not hesitate to contact our advisers.

Related posts:
Warning: French house insurance chimney sweeping clause
Holiday home oil theft warning
Holiday home burst pipes warning

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Cheap Home Insurance :Christmas and New Year office opening times

admin — Thu, 09 Feb 2012 12:26:12 +0000

During the Christmas and New Year holidays the Schofields office will be open as usual (9am-5pm) except for the Bank Holidays when our office will be closed. Office opening times: 26th December Closed (Bank Holiday) 27th Closed (Bank Holiday) 28th Open 29th Open 30th Open 2nd January

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During the Christmas and New Year holidays the Schofields office will be open as usual (9am-5pm) except for the Bank Holidays when our office will be closed.

Office opening times:

26th December Closed (Bank Holiday)
27th Closed (Bank Holiday)
28th Open
29th Open
30th Open
2nd January Closed (Bank Holiday)
3rd Open as usual

All the team at Schofields would like to wish all our clients a very Merry Christmas and a Happy New Year.

We hope that you all enjoy a safe and incident free Christmas. In the unfortunate event that you have a claim please see your policy document and read our claims advice.

Merry Christmas and a Happy New Year from all the team at Schofields.

Related posts:
Taxman targets holiday home owners
Ash cloud: travel advice, updates and your rights
Do open windows invalidate holiday cottage insurance?

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Home Insurance :Ultimate guide to protecting holiday homes in winter

admin — Thu, 09 Feb 2012 12:26:11 +0000

Statistics show that most second home house insurance claims occur during the winter, predominantly caused by extreme weather – frost, snow, flooding, storms, but also break-ins. This is understandable due to the very nature of holiday properties being locked up and left for long

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Statistics show that most second home house insurance claims occur during the winter, predominantly caused by extreme weather – frost, snow, flooding, storms, but also break-ins. This is understandable due to the very nature of holiday properties being locked up and left for long periods without inspection.

Claims costs:
Insurers paid out £1.4bn in ‘big freeze’ insurance claims in the UK between 24 November to 31 December 2010, up from £700m for the previous winter of 2009/10.

Insurance provides cover for a list of specified perils. Policies do not provide unlimited cover for every eventuality or maintenance related issues. With this in mind it’s important that holiday home owners take all reasonable precautions to prevent a loss or damage and keep their property maintained.

As insurance does not cover all eventualities, property owners are liable for uninsured losses and general ‘wear and tear’ so taking precautions can prevent you suffering unnecessary expenses.

Here are useful of tips and advice to protect your holiday home in winter

Preventing and dealing with burst/frozen pipes

How to prevent frozen pipes and bursts
What causes pipes to freeze and burst? – Burst pipes are the biggest threat that UK holiday homes face. However, many claims can be prevented by taking some simple precautions to prevent pipes from freezing and bursting.
What to do when pipes freeze or burst – If your pipes do freeze there are several steps you can take to prevent them splitting, but if they do burst here is what to do.
Does holiday home insurance cover plumbing repairs? – If you do have a burst pipe then the damage caused by the ‘escape of water’ is covered (subject to the policy terms) but who is responsible for the repairs to pipes?
Boiler breakdown insurance for self catering holiday cottages – Boiler breakdowns aren’t generally insured under a holiday homes policy, so is it worth taking out a separate home emergency boiler breakdown insurance policy?

Storms
Resources to monitor UK weather warnings & flood alerts – Here are some excellent resources for keeping up to date with weather warnings and flood alerts.
Does insurance cover a fallen tree? – Gales often cause trees to come down, but what if the tree causes damage? Who is responsible for the removal?
Does insurance cover storm damage to fences & gates? – Fences are also frequently damaged in storms, but are they covered?
Does home insurance cover snow damage? – Heavy snow can put a lot of weight and pressure on gutters damaging them, water ingress from thawing snow also causes damage. Here we clarify what is and isn’t covered.
Flood & storm insurance for property abroad – If you own a property abroad and are insured by a foreign insurer then there are certain things you should be aware of that could leave you uninsured. Storm definitions, minimum rainfall and wind speed requirements for a claim to be valid and strict claims notification deadlines. This article points out what you should look out for.

Flooding
How to prepare for flooding – Flooding can be a problem in UK holiday home hotspots, here is advice on how to prepare if you are at risk.
What to do if your holiday home is flooded – Steps to take if you are flooded.
How to check if a home is at risk of flooding – Looking to buy a holiday home? Check if it is in a flood area before you commit as you could have problems insuring it.

Maintenance
How to prepare your holiday home for winter – An extensive list of simple maintenance tasks that can prevent a loss or damage and unnecessary expenses.
French house insurance chimney sweeping clause – Does your French insurance policy require an annual chimney sweep? You could be uninsured for a chimney fire if you fail to do so.
Holiday home oil theft warning – The rising cost and short supply of domestic heating oil has seen a rise in rural oil thefts. How to protect your tank.
Does overseas home insurance cover mould? – Overseas properties that are left over winter often suffer from mould. Here are tips on how to prevent it.
Prevent carbon monoxide risks at holiday lets & cottages – The silent killer. Ensure you and your guests are safe.

Security
Holiday home security advice – Occupied and unoccupied holiday cottages are often an easy target for burglars. Here are some tips to prevent break-ins.

Please add your tips in the comments below…

Related posts:
How to keep your second home safe this winter
Holiday home insurance winter unoccupancy clause warning
How to prepare your holiday home for winter

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Best Home Insurance :Responding to discount requests when holiday letting

admin — Thu, 09 Feb 2012 12:26:10 +0000

The January peak holiday rental and cottage holiday booking season is under way and many owners are seeing an increase in ‘what is your very best price for’, ‘would you take £X amount for’ and ‘we only have a budget of £x’ enquiries – sound familiar? I’m sure many

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The January peak holiday rental and cottage holiday booking season is under way and many owners are seeing an increase in ‘what is your very best price for’, ‘would you take £X amount for’ and ‘we only have a budget of £x’ enquiries – sound familiar?

I’m sure many owners have their own ideas on how they would like to respond to these enquiries – along the lines of “Don’t ask for a discount if you are easily offended!”.

If you are new to holiday letting and don’t have the advantage of historical data on booking trends, it’s difficult to know when and when not to discount. Here are some ideas.

Discount culture

In the current economic climate many people think they can haggle on price and get a discount, especially the Groupon/Moneysavingexpert enthusiasts. Holidaymakers are clearly looking to get their holiday budgets to work harder for them this year, with price being one of the top holiday considerations.

Many holidaymakers send the same enquiry to multiple properties (this is an option on some rental websites) asking for a discount or best price. Don’t automatically offer a discount if it doesn’t suit your objectives to maximise occupancy/income.

Pricing

Competing on price only works if you can do volume. The basic laws of supply and demand apply to holiday rentals – there are only 52 weeks available to let in the year, less if your tourist industry shuts down out of season. Be careful about discounting peak summer weeks early on in the booking season that could potentially let twice over. Remember, historically July is also a peak booking season when holidaymakers are looking for last minute holidays, so don’t be too concerned if your property doesn’t book straight away.

This image from Google trends shows the demand for ‘cheap holidays’ searches peaks in January and July each year. The same trend applies to generic ‘holiday’ searches.

There is also another good reason not to compete on price (discount), research shows that people’s perceived value tends to increase for expensive items. You have to back this up though with your ‘high quality’ accommodation and service, though.

Many owners also have the opinion that ‘discounting’ attracts a different type of guests which require more work.

Rather than compete on price, an alternative is to highlight why you are different/better than your competitors. How will guests get better value? – free baby equipment/beach toys, free Wi-Fi, the best view on your complex, private parking or free health club use for example.

When to discount

Discounting is pointless if you make a loss or minimal return for the effort.

However, discounting can help fill vacancies in certain circumstances, for example;
- offering a ‘late deal’ discount 2/3 weeks before the available dates;
- to fill a booking gap;
- for monthly winter lets;
- discount a ‘hard to sell week’ that you know from experience is difficult to let.

If you do get ‘best price’ and ‘discount’ requests for popular weeks, a good reply is to advise that “you are welcome to contact us a few weeks before the dates and a late deal discount may be available, however the dates are unlikely to still be available due to demand”.

It would be interesting to know if agencies also get requests for discounts or is it just private/direct enquiries who ask/expect one?

How do you deal with discount requests?

Related posts:
Letting Guests Use Bicycles
5 risks to avoid when holiday letting
Advice & resources for letting a holiday home

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Best Home Insurance :Floodcheck: Prevent water damage at your holiday home

admin — Thu, 09 Feb 2012 12:26:10 +0000

There is no denying that water is the main threat to your UK holiday home. A small pipe fracture can release thousands of gallons of water if left undetected. Our experience is that the subsequent damage can render a holiday cottage uninhabitable for up to a year whilst the property

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There is no denying that water is the main threat to your UK holiday home. A small pipe fracture can release thousands of gallons of water if left undetected. Our experience is that the subsequent damage can render a holiday cottage uninhabitable for up to a year whilst the property dries out – with owners losing valuable holiday rental income.

The cost and inconvenience caused by the escape of water can be extensive. During the big freeze in December 2010 there were 103,000 property damage claims for burst pipes, at a cost of £680m. The average insurance claim is estimated at £25,000 however, £100,000+ repair bills for water damage to the buildings, contents and drying out are not uncommon.

Many burst pipes can be avoided by taking some simple preventative measures when holiday cottages are left unoccupied.

Floodcheck – flood and water damage prevention

The damage caused by water can be significantly reduced by minimising the amount of water that can escape. Simply turning off your water supply when your holiday property is unoccupied is recommended. Another solution is the Floodcheck flood prevention device.

From the manufacturer
“The Floodcheck Auto valve is a flood prevention device which protects your property from internal flooding by monitoring your water supply. It automatically switches off your main water supply if it detects a water leak, preventing water damage”

Features

15% discount for Schofields policyholders

Schofields have negotiated for our clients to receive a 15% discount on all Floodcheck products. Please contact us and we will advise you on how to claim your discount.

Preventing and minimising water damage can save an enormous amount of distress, inconvenience and holiday cottage insurance claims.

Related posts:
How to prevent frozen water pipes at your holiday cottage
How to prevent frozen pipes and bursts
Increased water charges following a burst pipe

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Home Insurances :Being sued ‘myths’ for snow & ice outside your holiday home

admin — Thu, 09 Feb 2012 12:26:06 +0000

There is nowhere more beautiful than the UK in winter, especially when it snows. Picture perfect white-washed scenes attract thousands of tourists to self-catering rural holiday cottages in winter – with the promise of blue skies, snow capped mountains and fresh air. However, once

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There is nowhere more beautiful than the UK in winter, especially when it snows. Picture perfect white-washed scenes attract thousands of tourists to self-catering rural holiday cottages in winter – with the promise of blue skies, snow capped mountains and fresh air.

However, once snow starts to thaw, pathways are left covered with compressed ice for weeks as temperatures remain below freezing.

What steps should you take to clear the snow and ice outside your holiday home?

Can you be sued if you don’t clear snow and ice from outside your holiday home?

Due to the ‘compensation culture’ there remains a deep suspicion in the UK that homeowners might end up being sued by pedestrians who slip or fall on snow or ice outside their property.

The Government issues ‘Snow Code’ guidelines on how residents should approach the clearing of pavements outside their homes.

The snow code

“Don’t be put off clearing paths because you’re afraid someone will get injured. Remember, people walking on snow and ice have a responsibility to be careful themselves. Follow the advice below to make sure you clear the pathway safely and effectively. Don’t believe the myths – it’s unlikely you’ll be sued or held legally responsible for any injuries if you have cleared the path carefully”.

Note the term unlikely. Interpret this as you wish, but it could be assumed that if paths aren’t cleared properly, property owners could be liable for injuries.

Clearing snow & ice from outside your holiday home

During snow and icy conditions you should clear paths on your own property, especially if you have guests staying at your holiday cottage. Not only can this make surfaces safer, easy access will also be appreciated by guests. A slip or injury isn’t a good start to the holiday.

Are you insured?

There is always the risk that if a guest or postman slips and injures himself on your path, you could be sued. A comprehensive insurance for second homes policy should include public liability insurance that protects against such events. You should check that this extends to cover commercial holiday letting as some policies don’t.

Related posts:
Does home insurance cover snow damage?
Holiday home swimming pool safety
How to prepare your holiday home for winter

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Dubai Marina Apartments remained high in demand last year

admin — Fri, 06 Jan 2012 12:44:00 +0000

Since the initiation of the oversupply problem with Dubai real estate, the Dubai apartments market was not performing well. The villa market on the other hand was the first market by property type that showed earliest signs of stabilization of 1-2% in prices in the initial few months of the year 2010. Since that, the villas prices have continuously showed spurts of growth on quarterly basis. Opposed to that, the Dubai apartments market remained under pressure due to having less demand from the buyer’s community.

The year 2011 brought some good news for the property in Dubai because the price recovery was experienced in all types of units including apartments situated in many reputed areas of Dubai. The increase in apartment’s prices was mainly noticed in areas, which offered better quality living along with the better structural designs. Dubai Marina is the area, which mostly consists of apartments, and you will find very few villas in it. The real estate transactional data of 2011 shows that that the apartments in Dubai Marina topped with respect to the number of transactions in the first nine months of 2011.

One of the real estate information companies issued the data highlighting 307 transactions in Palm Jumeirah, 553 in Emirates Living, 494 in Business Bay and Downtown Dubai but the highest in Dubai Marina indicating 800 transactions. Because Dubai Marina mainly consists of apartments, this data showed that the Dubai Marina apartments remained all time high in demand. The reason of this high demand is the quality of living and stabilized rentals there as compared to other types of property in Dubai.

One of the websites that indicate number of searches showed that the Dubai Marina remained the top most searched location in Dubai in the year 2011. Even in the last quarter of 2010, out of the total searches, almost 18% of the searches accounted for buyers of the properties in Dubai Marina whereas the 18.02% accounted for rental properties by the tenants. Thus, the demand of the apartments in Dubai Marina remained at its top, which is improving the overall condition of apartment market in Dubai.

Preparing Properly when Using Grills

admin — Mon, 02 Jan 2012 07:54:55 +0000

If you’re not very experienced when it comes to grilling, you might find yourself clueless as to what to do if certain problems arise. Whether you’re grilling for family and friends in the garden or at a larger outdoor event, the key to delicious grilled food is sufficient preparation. Turning your back to the grill too many times can result in a burned and distasteful meal for everyone.

Before you begin using your grill, make sure that you have a good, quality tool set that can be used for picking up and setting down food, as well as turning the meat over or moving it. Ensure that they are right next to the grill so you don’t have to spend several minutes searching for them while the food is grilling.

Many people think spices and sauces are essential when using grills to cook food. The added taste and flavor that they bring is loved by people everywhere, so you may want to consider adding some of these to the food. Before grilling, put the necessary condiments where they can be easily reached.

One of the main problems that people experience when using charcoal grills is finding the right temperature. Many people take a wild guess or use a temperature similar to the one they used last time; however, this is hardly ever the best way. In order to get accurate results and perfectly grilled food, use a cooking thermometer and monitor how hot the grill is by using that.

Finally, make sure that you’ve got plates, dishes and other platters directly next to the gas grill when you’re cooking. If the food grills quicker than you expected, it may end up burning if you don’t get it from the grill to a plate in good time. The last thing you want is to burn the food in the final moments, so prepare beforehand and you’ll minimize the number of problems that you could encounter.