Professional Risks Corporate Manager, Thomas Hogan, for Wesleyan Financial Services, outlines the potential impact of business interruption as a result of cyber-attack.

Today, the assurance that home insurance can provide is invaluable, particularly as it can offer peace of mind to homeowners that their house and contents are protected.

There are a number of different types of home insurance available from standard cover to more bespoke, specialist policies. Buildings insurance covers both the structure of the house as well as the replacement or repairs of permanent fixtures such as bathrooms and kitchens as well as the roof. Contents insurance protects your declared belongings, including electronics, jewellery, clothes, furniture and so on from incidences like theft, fire and flooding. Accidental damage cover, which can be used to repair or replace items that have been damaged – such as a smashed TV or wine stain on the carpet – is classed as an extra, so be sure to specify what you require when selecting your policy. More specialist policies can cover holiday homes, listed buildings, high-value homes and belongings and non-standard houses.

Regardless of which policy you choose it is crucial that you are aware of what it covers and the restrictions that are applied within the small print, otherwise you could find yourself unable to make a claim. 

Statistics show that the most common claims made by policyholders in 2015 were weather (25 per cent), escaping water (21 per cent), fire (13 per cent), theft (13 per cent), accidental damage (10 per cent), domestic subsidence (4 per cent) and other domestic claims (14 per cent). [i]

Claims for floods have increased in particular over recent years. At the end of 2015, start of 2016 alone, storms Desmond, Eva and Frank are thought to have resulted in payouts of £1.3 billion, with each claim thought to average at £50,000 – in 2013/14 the average was £31,000.[ii] With research showing that heavy rainstorms are on the rise due to manmade climate change – one in five extreme rain events experienced globally are as a result of the global rise in temperature[iii] – it is possible that we could be seeing a lot more claims for bad weather and flooding in the coming years; something to think about if you are not currently protected against these events.

If you don't have an existing policy or you are looking to change or upgrade, it can be prudent to enlist the services of a specialist agency such as insurance4dentists that can advise you on products that would be best suited to you. By going at it alone you run the risk of selecting cover that might not be sufficient or correct for your needs, which could result in a subsequent claim being rejected. Thus, for peace of mind, contact an expert adviser today.

For more information please call 0845 345 5060 or 0754 DENTIST. Email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.insurance4dentists.co.uk