Can your home insurance survive the storms?

After the floods of 2007 came the storms of 2008 – the UK once again the victim of some extreme conditions that may be an indication that further bad weather is to come as the planet reels from the effects of Global warming.

Clearly lessons must be learned from last year’s floods which cost home insurance companies more than £3billion in claims. However, new research from Sainsbury’s Bank shows that 1.78 million homeowners are still without buildings insurance and a further 656,000 did not know whether they had cover or not.

How do you know if you have suitable home insurance cover?

Homeowners should check their policy details as soon as possible – particularly if they live in a flood risk area. If you’re not sure whether you live in a flood risk area, visit the Environmental Agency website which outlines the areas most likely to be affected.

Most standard buildings insurance policies will cover storms broadly – however, the extent of this cover will vary from policy to policy. For example, most home insurance companies will not include gates or fences while others will have separate terms for damaged caused by falling trees.

Many home insurance companies may also question your claim. The Financial Ombudsman Service has seen a significant rise in complaints from homeowners who have seen their claims rejected for reasons such as no evidence of storms in that area or a poor state of repair.

Therefore it’s vital to document events as they happen and contact your insurance company as soon as possible. Keep evidence of any ruined property, take photographs, and if there is any reference to bad weather in your area in a local newspaper or on the internet keep hold of it just in case your insurer does not trust your claim. If you require repairs immediately keep hold of any receipts to make a claim for your expenses.

Also bear in mind that most buildings insurance policies will not cover you for wear and tear – such as if tiles fell off the roof that were already in a state of disrepair. That’s why it’s vital to be honest with your insurer from the outset so you know exactly what you’re covered for and can carry out any repairs to your home before a claim is necessary.

How can you avoid making a home insurance claim?

Home insurance premiums are on the rise and it is expected that those in the worst-hit areas may see further premium increases by as much as 40 per cent. In the last quarter of 2007 alone, the average home insurance premium leapt by 1.4 per cent to £218.60 for an annual policy according to AA insurance.

Making a claim on your home insurance will almost inevitably see your premiums rise unless you have no-claims discount protection. Clearly prevention is much better than cure.

There are steps to take to reduce your risk of making a claim as a result of flood or windstorm damage. For example, you should check your pipes for leaks particularly during the winter months; clear your gutters and take steps to ensure your property is in a good state of repair. It’s also worth securing any outside objects – such as barbecues and garden furniture – so there is no risk of them causing a hazard in extreme winds.

If you live in a flood-risk area keep a stock of sandbags at your home and attach floor skirts and barriers to doors, airbricks and windows that can be slid into position when the risk of flooding increases. You should move as many items upstairs as possible – such as furniture – so have a plan in place as to where they can go. You should also move plug sockets higher up the walls of your home so are they are at less risk of being at water level in the event of a flood.

Just in case the worst does happen, keep a home emergency kit on hand with blankets, tinned food, your insurance documents and spare bulbs.

How to find the right home insurance deal

If you do not have adequate home insurance cover in place then you must act quickly.

Call your insurer and express your concerns. If it will not increase your level of cover for the right price then shop around for a deal that will.

You can secure cheap home insurance with the right level of cover by entering your details into a price comparison website. There are many good deals available to new customers including cashback offers and online discounts – so you could soon be paying less for more comprehensive home insurance.