Churchill Insurance has issued a reminder to consumers about getting adequate cover for their jewellery this Valentine’s Day.

With many people potentially planning to pop the question this weekend, having the right amount of cover in place is vital in case the worse happens to your gems both at home and away, the company warned.

Claire Foster, spokesperson for Churchill Home Insurance, stated that with its cover, items worth £1,500 or more should be listed individually on the policy, but anything worth less will be classed as general personal contents.

As well as having jewellery listed on a policy, it is also important to have some proof of the item’s value, such as a recent valuation or the original purchase receipts, she added.

This Valentine’s Day could prove to be an expensive occasion for many men, if recent research by Tesco Bank is anything to go by. The institution found that while 69 per cent of men are planning to spend up to £50 on their partner, over half of female respondents are shelling out just £10.

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Aviva, the world’s fifth largest insurance group, has warned property investors that they should make sure they have adequate legal expenses insurance in case one of their lodgings is infiltrated by squatters.
Underwriting manager, Mike Colmans, said that obtaining interim possession orders to get rid of unwanted residents can be “significantly costly.”
Getting the right type of insurance coverage, however, is not enough to protect landlords from squatters on its own, he suggested, pointing out that some insurers will not pay out if they feel appropriate steps have not been taken to secure the property and stop people from entering in the first place.
“It is imperative that adequate measures are put in place to prevent squatters from entering and taking ownership, as it can be notoriously difficult to remove squatters,” Mr Colmans commented.
LandlordZone suggests that property owners speak to their insurance providers when accommodation is going to be empty, as vacant lots generally attract higher premiums.

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Sainsbury has reported that the amount of money claimed by their home insurance customers for water damage has passed £35 million since December.

Since the start of the cold snap, around 16,000 people are estimated to have made a claim for water damage caused by the forcible or violent bursting of a pipe.

Ben Tyte, Sainsbury’s home insurance manager, said that although a similar surge in claims was experienced last winter, this year the cold snap has been longer.

To prevent bursts at home, Sainsbury’s offered homeowners winter weather advice, which includes leaving heating on low even if the house is vacant for a few days as it will stop the pipes from freezing.

Additionally, insulating pipes in the attic can prevent them from getting too cold.

The brand also advised checking that home contents and building cover is at an adequate level, should items need to be replaced.

Sainsbury’s recently reminded consumers to make sure they are covered before heading away on an extended holiday, as many policies do not extend beyond 30 days.

©2010 MoneyBlog. All Rights Reserved.

Burst pipes due to continuing cold weather could see more people taking up Axa home insurance, the firm has claimed.

The Met Office has predicted a drop in temperatures across the UK this week and is urging homeowners to learn the lessons of December and January by making sure that their property is covered against bad weather damage.

Figures from the insurance company showed that claims for escape of water rose sharply in the past two months due to an increase in burst pipes, with houses as well as possessions being affected by the problem.

Nick Kidd, head of home insurance at Axa, said: “Not only does burst pipe damage have financial implications, especially if insurance is not in place, but it can also cause huge emotional trauma from ruined personal belongings.”

Drivers who have been claim-free for eight years will also be able to take advantage of a new Axa car insurance product, which rewards experienced motorists with a discount of up to 90 per cent.

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Marks & Spencer Pet Insurance are warning dog owners of plants that are potentially harmful to their pets.
To help ensure your pet stays healthy and to prevent the need for an expensive trip to the vet, the firms suggests keeping animals away from some potentially harmful flowers and vegetables.

Owners are being advised to keep their pets away from daffodils, as all parts of the plant are toxic if consumed. Animals who have ingested daffodils may suffer from vomiting, diarrhea and staggering.

Tomato plants can result in intestinal problems in dogs, while rhubarb leaves may also cause these symptoms as well as breathing difficulties and trembling.

Clare Scantlebury, deputy operations manager at Vetfone, a service which provides 24-hour help for animal lovers, said that pet owners need to be aware of the hidden dangers as they take their furry friends out in the warmer weather.

Before Christmas, pet owners were warned of the risks posed to their four-legged friends by decorations and wrapping paper.

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Drivers who do not protect their no claims discount (NCD) and have to make a claim on their insurance will see their premium increase, according to moneysupermarket.com.

The price comparison site found that drivers who make a claim with an unprotected NCD can see their premiums go up by as much as 73 per cent.

For example, drivers who have five years without a claim but an unprotected bonus may see a leap from £528 to £911, an increase of £383.

The same motorists, if they had protected their bonus, would only face an 18 per cent rise of £104.

Head of motor insurance at moneysupermarket, Steve Sweeney, said that drivers should still be careful, as if they pay to protect their bonus but do not subsequently make a claim it could work out more expensive in the long run.

It was recently stated by moneysupermarket.com that motor insurance premiums are set to increase this year, with consumers being advised to shop around for a better deal.

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Many pet owners find it difficult to cover the costs of a large bill if their animal is taken ill, according to research.

As many as one in five of the people questioned by Gocompare.co.uk stated that they would not be able to afford a significant vets bill and would have to rely on a charity like the PDSA or not receive the treatment for their animal at all. This is devastating when your pet is family.

Each year, animal lovers spend an average of £676.92 on their furry friends, with a surprising £120.84 going on treats, toys and bedding alone.

John Miles, head of product development at Gocompare.com, said that since insurance policies for four-legged friends can cost from as little as £40 a month, it is a “false economy” for many people who go without insurance.

The price comparison site recently advised consumers who were facing steep hikes in the price of their insurance to look elsewhere for a better deal.

©2010 MoneyBlog. All Rights Reserved.

Sainbury’s Finance has warned that music which has been downloaded off the internet may not be covered by some insurance policies.
The firm estimates that as many as three quarters of companies will not insure the music collections their customers have amassed digitally.
With the average shopper estimating their collection to be worth £85, it is estimated that around 36 per cent of British adults now own some music that they have downloaded.
For some people, music is a much more serious investment, with nearly a million people estimating the value of their downloads to be £250 or more.

Yet, according to Ben Tyte, Sainsbury’s home insurance manager, many insurers are “lagging behind” the new technology as only 24 per cent of insurance policies cover the cost of digital music.

With a Sainsbury’s home insurance policy, music to the value of £2,000 is covered.

Holidaymakers are also risking travelling without insurance, Sainsbury’s has stated, with 13 per cent of people who have already booked their summer holidays having no plans to take out travel insurance.

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It has become difficult for individuals over 80 years old to find car and travel insurance, according to Age Concern and Help the Aged.
Almost half of the major insurers are failing to offer cover to people aged over 80, regardless of their personal health.

Insurers such as Aviva will cover individuals aged up to a maximum of 85 years, while others such as Tesco and Axa will cover people up to the age of 80, the charity claimed.

Age discrimination is not limited to those in very old age, as people aged 65 are finding it hard to get a quote for their holiday and car cover.

This report follows the news that Age Concern is reporting record sales of its own travel insurance policies as the over 65s are using their retirement to travel the world.

Andrew Harrop, head of public policy at Age Concern and Help the Aged, said: “It defies belief that in 2010 a business is still able to refuse to deal with someone because of the date on their birth certificate.”

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According to recent reports, car insurance providers are increasingly refusing to provide cover for young motorists.
According to the BBC, insurance firms are concerned about rising claims costs and are becoming increasingly unwilling to accept the greater risks associated with drivers aged between 17 and 22.

The news provider reports that some providers are offering no deals for such motorists, while others are “simply pricing them out of the market”.

The BBC added: “There is a particular problem with young drivers crashing with their friends in the car with them – accidents that lead to large liability payouts,”

As a result, few providers are offering male, first-time drivers a quote of under £3,500 a year, it is claimed.

Last week, Steve Chelton, insurance development manager at car insurance provider Swinton, said young drivers are particularly at risk of accidents on UK roads, meaning it is vital they gain sufficient experience before taking their test.

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