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More Than Simplifies Home Insurance
The revolutionary policies split contents insurance into two straightforward categories: cover for all contents in the home (including garden and outbuildings), and cover for all contents away from home for up to 60 days. The move was made based on customer feedback which revealed that customers were unhappy about limits, exclusions, add-ons and clauses which were hard to understand and were included in the small print of many policies. Because the policies are so easy to understand, they reduce the risk of under insurance or over-lapping cover - for example between contents insurance and travel cover. Keith Maxwell head of home insurance at More Than said "We've a history of developing innovative products and services and our new home insurance is a great example of how we always seek to do more for our customers. With it we have sought to simplify cover and reassure customers by helping them better understand their protection." More Than believe that with their new approach to home insurance they will “shake up the home insurance market,” and will hopefully go some way to draw cash strapped consumers back into the insurance market. Recent consumer surveys have found that when making cut backs in an attempt to save money as many are doing right now, insurance is often seen as an extravagance and many ditch their policies. Others cut back to the bare minimum, reasoning that they have not had to make any substantial claims in the past and that insurance is essentially a waste of money. However this is a very dangerous view as during a recession crime rises and we are more likely to make claims on our home insurance as a result. When disaster does strike, cash strapped consumers who have cut back on their insurance to save money will find that they are in a dire financial position, unable to afford to cope alone, but left without insurance to support them thorough crises. Phil Kennedy, business development director, for Legal & General’s general insurance business says: “Independent consumer research we recently conducted highlighted that 32% of people would consider shopping around for cheaper household insurance cover to save money. “In today’s economic climate, choosing the lowest price option regardless of brand or cover could be a false economy. By recommending cover from a secure and trusted brand, advisers can give customers confidence that their home is sufficiently protected should the worst happen. “Household insurance cover is not a luxury purchase. When home contents cover can be provided for as little as £10 to £20 per month, which represents good value, even when household budgets are being stretched.” Article Directory: http://www.articledashboard.com Carys has more articles pertaining to home insurance and other insurance related articles. |
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