• Kenton

The Cost of Cheap Home Insurance

This post is from our insurance provider Uinsure but it explains why you should have a 5 start Defaqto rated policy

Back in 2014, the area of Moorland, in Somerset, was devastated by flooding. 120 homes were left submerged, as flood waters rose up to a metre in a matter of minutes, leading to the community being evacuated for their safety.

Once the water dispersed, and homeowners returned to their flood-ravaged properties, attentions turned to getting lives back on track and claiming on insurance policies. 

Imagine then, after going through such an ordeal, to be told that your Home Insurance policy is void due to a technicality.

That's exactly what happened to the May family, whose policy was voided by their insurer because they didn't declare a drain near their house.

The cost of low quality cover...

The sad thing is that this is common when it comes to low quality Home Insurance, particularly from comparison sites, where unknowing homeowners will be punished for not being insurance experts and being unaware of what should or shouldn't be specified. 

That's why, at Uinsure, we have an extremely simple question set that won't trip your clients up. It's just 16 questions long and, with reference to flooding, we only ask if your client's property has ever flooded before or if they’ve had to take measures to prevent flooding.

In the case of the May family's claim, I'm glad to say that we'd have paid out the full amount.

Aspire Financial Services is authorised and regulated by the Financial Conduct Authority (FCA). Aspire Financial Services is entered on the Financial Conduct Authority Register under reference Number 919412.
The Financial Conduct Authority does not regulate some forms of buy-to-let or commercial mortgages. 
This website is aimed at UK residents.
  • LinkedIn Social Icon
  • Facebook Social Icon