by Sophie
Pomeroy, Building & Contents Administrator, Manning and Company
Buildings & Contents insurance is like anything in life - you get
what you pay for!
In these times of economic hardship, people are looking for ways to
reduce the cost of living, and Buildings & Contents insurance can be one
area under scrutiny. It may be tempting
to cut your level of cover, or even cancel it altogether – perhaps thinking
it’s worth the risk, given how infrequently you may have made a claim in the
past.
But under-insuring your property is a false economy and leaves you
over-exposed to risk. What’s more,
failing to have Buildings insurance could be in breach of the terms of your
mortgage.
The recent spate of floods and bad weather has highlighted the importance
of having fully comprehensive cover.
Many people wrongly assume that most Buildings & Contents policies
will cover every eventuality. Sadly this
is a common misconception – which one of our own advisers recently discovered
to his cost.
Storm damage to the roof of his house resulted in rain pouring in. The insurance company were disinclined to
respond, and generally unsympathetic.
Our adviser had to organise the repairs, and pay for them out of his own
pocket – a cost of over £10,000. He then
had to chase the insurance company to get reimbursed. All of this was, of course, very time
consuming and stressful!
So, ask yourself if you really can afford to take the risk. Even if you already have a policy in place it
is still worth reviewing it, even if just to ensure that you have the correct
level of cover for your individual situation.
With our expertise we can make sure you have the right cover and, most
importantly, peace of mind. Do get in touch – we will be happy to help.
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