HOUSEHOLD INSURANCE

  • Q: I am moving house. Do I need to arrange a new household insurance policy?
  • A: No. There is no need to arrange a new policy as we can change your address and transfer cover to your new house at any time.
  • Q: What’s the difference between buildings insurance and contents insurance?
  • A: Buildings insurance covers the structure of the home together with its fixtures and fittings: it covers the cost of repair or rebuilding after fire or weather damage for instance. Contents insurance covers the contents of your home, the possessions you would take with you if you moved house.
  • Q: What amount should I insure my building for?
  • A: Your buildings should be insured for their rebuild costs and this needs to take into account the following based on a worst case scenario. If you are in any doubt please seek professional advice by asking a local building contractor or surveyor.
    • Debris removal
    • Professional fees e.g. builders and architects
    • The cost of the actual building materials
  • Q: What does contents insurance normally cover?
  • A: Contents insurance covers the contents of your home and your personal possessions – all the things you would normally take with you when you move house: your furniture, carpets, computer, entertainment equipment, CDs, DVDs, videos, valuables, clothing, personal belongings – even the food in your freezer.You may be asked to specify certain higher valued items on the policy and you may be asked to make additional security provisions such as locks or a burglar alarm if you live in an area with a high theft rate. Many contents insurance policies will also cover your belongings when you are temporarily away from your home or on holiday (usually within the UK only but this can normally be extended to world-wide), but cover is often restricted. Make sure you check the terms of your individual policy so that you can buy additional cover if needed.
  • Q: What is index linking?
  • A: You must make sure that your building and contents sums insured are kept up to date. Your policy contains an index linking clause. This simply means that your sum insured is altered automatically whenever there’s a change in the costs according to various indices such as:Buildings – the house rebuilding cost index prepared by the Royal Institution of Chartered SurveyorsContents – the Retail Price Index (Consumer Durable section or an appropriate alternative index).
  • Q: My home insurance policies are with my mortgage company. Can I switch?
  • A: Typically, you are free to switch to the company of your choice. Check your mortgage agreement to make sure you don’t need to tell your lender before you take out a new policy. You may be able to save money by switching and we can always note the interest of the mortgage company if required.
  • Q: What is the “excess”?
  • A: The excess is the amount you pay up front in the event that you need to make a claim. It is usually made up of two parts; the compulsory excess, which is an amount that’s specified by your insurance company, and the voluntary excess, which is an amount you choose to pay towards any claim.Typically the higher the voluntary excess you choose, the lower your premiums will be, but you must ensure that the total excess remains affordable, otherwise you might not be able to make a claim at all.

TAX

  • Q: What is Insurance Premium Tax and do I have to pay it?
  • A: Insurance Premium Tax is a compulsory tax on general insurance premiums payable to the HMRC. There are two rates:
    • A standard rate of 9.5 per cent.
    • A higher rate of 20 per cent for travel insurance and some insurance for vehicles and domestic/electrical appliances

CLAIMS

  • Q: How do I make a claim?
  • A: Make sure you keep your policy documents in a safe place, with the policy number and claims line number easily to hand. In the event that you may need to make a claim or if you are unsure that the incident will lead to a claim it is vital to notify the office as soon as possible after the incident has occurred. Please contact the office immediately on any of the following to make a claim:
    • Personal Lines Claims: 01992 707155
    • Equestrian Lines Claims: 01992 707318
    • Commercial Lines Claims: 01992 707155
  • Q: How long does it take for a claim to be settled?
  • A: As soon as we have checked that your claim is covered by your policy, we will get the process moving. Straightforward claims are normally settled quickly, and in all cases we will keep you informed of our progress.

For equestrian claims: Call 01992 707318

For all other claims: Call 01992 707155

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