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SarahBell

Home Insurance Goes Up

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The cost will ultimately fall on ordinary policy-holders, who will pay an extra £10.50 on their premiums on average.

http://www.bbc.co.uk/news/business-35944397

The headline: New flood insurance scheme to cut bills by hundreds of pounds is a bit misleading for the vast majority of people who will be paying extra to support the scheme.

Householders who are eligible will also see their policy excesses - the amount they have to pay towards a claim - capped at £250. Previously, some people had to pay several thousand pounds towards repairs.

However, houses built since 2009 will not be covered by the scheme. This was done to discourage developers from building on land at risk of flooding.

Businesses are also excluded, as are landlords who take out insurance policies on homes they do not occupy themselves.

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It strikes me that with petrol prices having struck £1 a litre there is much scope for the 1%ers to force up prices now.

Perhaps that was their game all aloing.

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Dwarfed by Insurance Premium Tax. Introduced at 2.5% in 1994 this stealth tax will reach 10% in October this year.

The public sector only know 1 thing.....TAX

They seem to reward themselves for their organisation generating more and more wealth :blink:

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If you have a mortgage?

Who checks?

No, but if you want to insure yours it is now compulsory that you insure somebody else's.

If you want to insure yours sure you share the risk with others......do you need to insure yours?

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Who checks?

If you want to insure yours sure you share the risk with others......do you need to insure yours?

Yes, I think I do, for the rare / unexpected event.

Not becuase I went and bought a place in a known flood area with a history of flooding and insurance claims.

Over 10% of the coverage for example is going to London homes put into the Flor Re scheme for the get go. I see no reason why I shoudl be subsidizing London flood insurance.

,

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Yes, I think I do, for the rare / unexpected event.

Not becuase I went and bought a place in a known flood area with a history of flooding and insurance claims.

Over 10% of the coverage for example is going to London homes put into the Flor Re scheme for the get go. I see no reason why I shoudl be subsidizing London flood insurance.

,

So what is the probability of an earthquake say?......how many tiles would blow off the roof in a high wind say?..... ;)

Edit:.....would you be covered anyway by war or conflict?.....just saying.

Edited by winkie

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We rented a house in Japan for 12 years...we didn't bother with insurance. During this period there was a earthquake in Kobe 50 miles away, I don't think we`d have been covered.

Have rented a council house for the past 10 years.....still no cover.

Insurance is only for the poor.

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So what is the probability of an earthquake say?......how many tiles would blow off the roof in a high wind say?..... ;)

Edit:.....would you be covered anyway by war or conflict?.....just saying.

Earthquake - or at least damage from one, pretty much zero. War,no would not be covered.

Fire, gas explosion, heavy water damage or freak wind storm event could be something that could could extensive enough damage to make not having insurance ruinous in comparison.

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Earthquake - or at least damage from one, pretty much zero. War,no would not be covered.

Fire, gas explosion, heavy water damage or freak wind storm event could be something that could could extensive enough damage to make not having insurance ruinous in comparison.

Fair enough....that is the risk you take, your choice....buying peace of mind.....anything can happen. ;)

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Fair enough....that is the risk you take, your choice....buying peace of mind.....anything can happen. ;)

Indeed.

Just the week before last there was a fazer buried in a kayak outside the front door and a motocyclist lying on the drive.

The saying is shit happens, rightly so, and sometimes it really is surprising shit!

Edited by onlyme2

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