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Home help ABI guide to help customers get more from their home insurance

The ABI is helping the UK’s 37 million home insurance customers better understand their cover and reduce the number of unsuccessful claims, by issuing a new guide to home insurance.*

This is part of the ABI’s drive to improve consumer trust and confidence in insurance, and follows on from ABI analysis of home insurance claims published earlier this year.

Every day, home insurers pay out £8 million in claims to help customers recover from unwelcome events such as a flood, fire or burglary.**

According to the ABI’s analysis of 1.8 million home insurance claims made during 2013 and 2014, the average pay-out was £2,520, compared to the current average combined buildings and contents annual premium of £310.

The analysis showed that nearly four in five claims were successful. Common reasons for a claim not being successful were problems not typically covered, such as wear and tear, or lack of maintenance, claims below the policy excess and not having the right level of cover.

‘Home Insurance – What You Need to Know’ sets out:

  • What is typically covered as standard by buildings and contents insurance, and additional cover that may be available.
  • What to be aware of, including common exclusions, getting your sums insured right, and higher value items.
  • How your premium is calculated.
  • How to ensure your claim is dealt with as quickly and efficiently as possible.
  • What to do if you want to rent out your home to a lodger, on Airbnb or similar.
  • Download the guide: Home Insurance: What you need to know (pdf 963kB)

James Dalton, ABI Director of General Insurance Policy, said:

James Dalton"The winter floods showed what insurance is all about, providing practical help and support to people at the most traumatic times.

"This new guide is part of the industry’s commitment to improve customer understanding, and clarity around the claims process. Home insurance is competitive so it’s important people shop around to get the right insurance product for them and don’t buy on price alone."

*ONS Living Cost & Food survey, 2013

**ABI ‘Key Facts’ 2015

Last updated 01/07/2016