Insurers may hike premiums for flood-prone properties in Singapore after a deluge caused millions of dollars in damage and led to luxury stores being barricaded with sandbags, a report said Friday. “Three floods within a one-month period is unprecedented in Singapore,” General Insurance Association president Derek Teo told the Straits Times as businesses and homeowners in the city-state braced for more rains. The daily estimated that claims for damage to property and vehicles since mid-June could exceed 10 million Singapore dollars...  Lire la suite

Do you shop around for your home insurance each year, or are you happy to let it to renew each year without checking the cost? If so, you could be losing £132 a year, and not contributing to the £937 million being saved every year – just by shopping for insurance. 29 percent of British homeowners automatically renew their home insurance every year, choosing not to shop around for a number of different reasons. Some people (Around 15%) believe they cannot make any savings and that the price they currently pay for their buildings and contents...  Lire la suite

With Accenture revealing that UK insurers are losing a staggering 20% of their customers each year (£3.3 billion lost in motor and home insurance premiums alone) insurance companies could be forgiven for feeling under pressure. But new research reveals that there is plenty insurers can do to tackle the problem. The research, completed in April of this year, involved more than 300 interviews with home insurance buyers to pinpoint purchasing behaviours in the post-recession era. It found that half of all home insurance buyers are struggling in the...  Lire la suite

Nearly 1.5 million homeowners are putting their homes at risk with inadequate cover according to a new survey by Britain’s number one comparison site, moneysupermarket.com. –> 250,000 homeowners have no insurance at all for their homes –> London and the South-East are least protected areas One in 16 UK homeowners (6 per cent) admit they are missing out on some form of insurance and only have either buildings or contents insurance – not both – this doubles to one in eight (12 per cent) of younger homeowners aged...  Lire la suite

Commenting on the launch of HSBC’s 1.99 per cent discount mortgage deal and Santander’s mortgage rate cuts, Hannah-Mercedes Skenfield, mortgages channel manager at moneysupermarket.com “Any cuts in rates and fees is good news for mortgage borrowers, and its great to see Santander and HSBC leading the charge by announcing changes and additions to their mortgage offerings. Santander’s cuts are clearly targeted at those who want to shelter from a possible rise in interest rates in the medium term. Those consumers seeking this...  Lire la suite