Know Your Policies

Know your policy terms

Recent analysis has found that many home insurance policies don’t include accidental damage cover as standard.

There were 78 home insurance policies analysed from 35 providers; cover for accidental damage was only included in 28% of buildings insurance policies and 27% of content policies. However, according to research, 31% of people with insurance thought they would be covered for anything that was not their fault. But in most cases, they would need to purchase accidental damage as an add-on. This could be a beneficial decision, as accidental damage accounted for 19% of claims made in the last two years.

This data highlights the importance of checking the terms of your policy, so you don’t get caught out.

As with all insurance policies, conditions and exclusions will apply

Sources:

https://www.msn.com/en-gb/money/other/most-home-insurance-policies-don-t-cover-one-thing-you-think-they-would/ar-AA1NuNod