Insurance articles

Are you invalidating your insurance without even knowing it?

Should you need to make an insurance claim, whether for a personal or commercial policy, it's crucial you're not in breach of any of the contract conditions outlined by your insurer.

 

Here are some of the most common ways you could invalidate your cover.

 

Smoke alarms not working

 

If you have stated that you have working smoke alarms when applying for your home or premises insurance, they must be working, or you’re at risk of invalidating your cover.

   

Home improvement disasters

 

Many of us decided to complete our own DIY projects over lockdown, with an increase in the number of Brits also choosing to buy property projects that they could renovate and profit from.

 

If you revamp your home this September, make sure that you know what you’re doing, or get an experienced tradesperson in to help.

 

Many insurers won’t cover you if you cause damage to your property in the process of renovating and the last thing you want is to accidentally drill through a water pipe and not be able to get it repaired.

 

Once your renovations are completed, it's also crucial to reassess your rebuild cover, as you may be left exposed when it comes to making a future claim.

 

Be wary of spare keys

 

If you have a spare key to your property, make sure it’s well hidden.

 

If a burglar lets themselves into your property with a spare key that you left unsecured, then your insurer may not pay out.

 

This is particularly important to remember ahead of the change in season and rise in opportunistic break-ins.

 

Keep your car in good condition

 

Ensure that your tyres are topped up with air and your oil is changed regularly.

 

Basic maintenance is expected and this includes making sure your MOT is done on time.

 

Don’t keep quiet about incidents that occur

 

Any minor damage should be reported to your insurance company so that they are aware for any claims or pay outs that happen later on.

 

Forgetting to put your burglar alarm on

 

The price of your home insurance is directly affected by your alarm system and security of your locks.

 

If you have an alarm system and don’t use it, you may find your insurance is invalidated.

 

Changing your personal details

 

It’s important to let your insurance provider know that you have changed address or job title, as this may affect how likely you are to need a pay out.

 

This is particularly important for car insurance, as things like a changing job role can significantly impact how you use your vehicle.

 

If you don’t keep personal details up to date, you may be paying the wrong premiums and get turned down for a claim.

  

If you need any advice on cover or want a quote, contact us today.

 

 

Fraud and computer misuse rises by almost a third this year

An estimated 4.6 million fraud offences have occurred in the last year, which is a 24% increase from 2020.*

 

During that time, there has also been a 162% surge in cases of unauthorised access to personal information. This increase can be attributed to the pandemic, as more people are forced to use online services without the necessary precautions or measures in place to protect their online activity.

 

Solicitors have been targeted specifically, with an increase of 125% in scam alerts via the Solicitors Regulation Authority (SRA), with the average number of alerts per working day increasing from 0.8 to 1.2 in the first six months of 2021.

 

It’s now more important than ever to keep your personal information safe online, not to mention any data relating to your business or its customers. To protect you from falling victim to cybercrime, here's some advice you can follow...

 

Create strong passwords

 

Having a unique password for each site you use rather than one that is used across multiple platforms will give you added protection, especially when it comes to your work equipment.

 

It’s also a good idea to change your password periodically.

 

Don’t overshare on social media

 

Posting too much in-depth information about yourself online can be dangerous.

 

When posting personal details like your location, birthday or hometown, be cautious and check your privacy settings.

 

Use free Wi-Fi with caution

 

Wait until you are on a secure, password protected network to use your credit card or complete any important transactions.

 

Most free Wi-Fi networks have very little security and other people could easily access your activity.

 

Watch out for links and attachments

 

Phishing scams can often look like legitimate emails from your bank or utility company.

 

Watch out for spelling errors or a different email address than normal, and never click on links or attachments unless you’re sure who they are from.

 

Since the emergence of COVID-19, this has been particularly harmful to businesses, with many companies failing to have the right infrastructures and processes in place to accommodate remote working for their teams and offer the right training to employees on what to look for.

 

Check if a site is secure

 

Check that there is a lock symbol, and the URL begins with 'https', before you enter any personal data on a site.

 

By doing this, you can be sure that the site is secure and your personal information is not going to be leaked, shared or hacked.

 

Consider additional protection

 

Installing anti-virus software can be useful at offering peace of mind.

 

However, it could also be beneficial to consider talking to a professional insurance broker about your risk exposure as an individual or business owner.

 

To learn more or get a quote, contact us today.

 

 

 

*The Office for National Statistics (ONS) Crime Survey for England and Wales