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Secured Loans > As Storm Doris hits the UK, is now a good time to think about home insurance?

As Storm Doris hits the UK, is now a good time to think about home insurance?

7th March 2017 | Published by Evolution Money

With Storm Doris now making her way onto UK shores, the Met Office has issued weather warnings across the country, declaring that the ‘weather bomb’ is likely to cause significant damage to buildings and houses.

In fact, the storm may be far more damaging than first predicted, with experts saying it has since gone through a phase known as ‘explosive cyclogenesis’. There’s no doubt that reported winds of up to 80m/ph will cause havoc among residences in affected areas of the country.

And as your beloved roof panels try to withstand a very tough test, now seems like as good a time as any for those homeowners without home insurance to consider the range of options out there.

Finding a home insurance plan that works for you

For most of us, our home is the single most valuable asset in our possession, which makes a robust home insurance policy essential to protect a property against all manner of eventualities.

Recent national research led by Consumer Intelligence shows that the average cost of home insurance coverage has increased by an average of 1.8% in the past year. This means that a standard policy is likely to cost around £124, and even more for over-50s for whom the increase is as much as 3%.

However, it’s not enough to just go for the cheapest price you manage to find; it always pays to check what is actually covered in each package. From weather damage to theft, there are a wide range of factors to consider – so make sure you double-check the lot before signing on the dotted line!

Category: Homepage, Money
This post was written by Evolution Money
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
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