While UK insurance companies rack up the prices for home and contents insurance, a closer look at the policies shows the cover on the schedules is being reduced. Terrorism exclusions have been added, an illogical step given that the UK is rarely subject to terrorist attacks, and that in comparison to other risks there was no need to add this clause to home insurance policies at all.
It is a remarkable achievement of insurance companies to sneak this clause in almost unnoticed, using the hysteria, completely unjustified, put up by the media that we are all going to die by suicide bombers.
Flood exclusions have been added to insurance documents, cutting out thousands of homeowners who now have an uphill battle to secure a comprehensive policy. This is a denial of nationwide cover by default, a conspiracy by insurance companies to only insure low risk households.
Several providers like More Than insurance now require you to protect your home like a castle, with burglar alarms which must be fitted and operational at all times, and multlilocks on all the windows. You are not allowed to open a skylight, for example, even during a warm summers night, unless you stand underneath it to make sure no burglars get in. Online home insurance companies like esure will only take new customers with provable no claims during the preceeding four years.
Pretty soon household insurance will be scarcely worth taking out with all these, and forthcoming, exclusions applying. Are there any exclusions that particularly irk you?
This article published by www.conspiracyreview.com ©2008.
on Nov 21st, 2007 at 11:00 am
They tend to raise premiums every year. The profits they make are obscenely huge compared to other industries. But that’s the way it is…
Cheers,
N.