|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    17th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Insurance News feed Insurance News

All Financial News feed All Financial News




Weather damage highlights need for home insurance

Bookmark and Share

by Kathyrn Lang
Weather damage highlights need for home insurance

Home owners insurance is a valuable investment, especially given the rising weather related claims.

Over the last several months, insurance claims have been on a steady rise due to gusting winds, severe storms, and tornado weather across the mainland. Even with the ravages of recent storms, 36% of homes are not insured.

Experts are predicting that 2007 will have an even higher number of severe storms. Home owners are being warned that not only do they need to prepare their home (by securing lawn furniture, and checking trees, gutters, tiles, and roofs), but they must make sure they are in a position to cover any damages by being adequately insured.

In addition to these measures, it is recommended that home owners have enough funds to cover any repairs that need to be done after a storm occurs.

After a major event, home owners often face long delays for insurance payoffs. Having an emergency fund allows a home owner to make necessary repairs and prevent further damage while awaiting the insurance money. It is important to keep all receipts from any repairs that are made.

Insurance claims from the winter storms which hit the UK in November and January, left a wake of destruction that is expected to reach ₤1bn.

Home owners need to prepare for future storms by evaluating their existing insurance, securing their home and property, and setting aside emergence funds for after storm repairs.

Discuss this in the Finance Markets forums

Story link: Weather damage highlights need for home insurance



News posted: May 16, 2007

Financial Services:





Related financial stories to: Weather damage highlights need for home insurance:
Previous: «
Next: »

Visited 2048 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.