Home Insurance

A series of natural disasters, including last month’s earthquake and the UK’s most recent bout of stormy weather could cause premiums to rise, according to Confused.com – UK insurance comparison website.

As severe windstorms over 80mph batter many parts of Britain, and with some areas now under threat of imminent flooding, Halifax Home Insurance offers some timely advice to homeowners.

Following the storm that hit parts of the UK last night and continued through today, rural insurer NFU Mutual is already dealing with claims for damage to homes and farm buildings – with many more reports of minor damage still coming in.

Ahead of this Wednesday's Budget, Martin Hall, Director of Home Underwriting at RBS Insurance, comments on the need for increased investment in flood defence:

In response to severe weather in many areas of the UK, Emma Holyer, spokesperson for LV= comments: “The severe weather of the past 24 hours has caused a significant amount of damage to property the UK and LV= is currently proactively calling policyholders most likely to have been affected by the storms to offer help and assistance.

As rain and fierce winds batter most parts of the UK, hundreds of people are assessing the damage to their homes.

With seven severe flood warnings currently in place in the South West of England, yet again the fear of flooding and its devastating impact are making the headlines.

Direct Line, UK insurer, is today warning households to be prepared for damage to their property as the worst storm of the winter hits the UK.

Commenting on storm conditions affecting Britain, Richard Mason, director of insurance at moneysupermarket.com, said: "People in Wales and South West England have been waking up to 80mph winds and the risk of coastal flooding.

The letting industry have issued a warning that with many people turning to buy to let property for a future pension investment or renting out their existing home when they relocate to new jobs, not all of them are aware that they may require specialist landlord’s property insurance.

Sainsbury’s Finance estimates that the insurance industry could receive as many as 3,250 home insurance claims as a result of last week’s earthquake, which reached 5.2 on the Richter Scale.

A staggering 42 per cent of engagement rings are uninsured and a further 16 per cent of ring owners are unsure if they have insurance, according to new research from Abbey Home Insurance.

Floods Recovery Minister John Healey has met with representatives from the ABI (Association of British Insurers) and representatives of major insurance companies for a progress report on action being taken to get those still in temporary accommodation following last summer's floods back into their homes as quickly as possible.

Colin Batabyal, Director of Underwriting and Business Development for esure Home Insurance, said: “Over the last year, the number of incidences of extreme weather in the UK that have hit the headlines has been unprecedented.

The biggest earthquake in the UK for nearly 25 years, measuring 5.3 on the Richter scale, may have shaken homes across large parts of England and Wales, but hopefully may also shake a few home owners into considering their home insurance.