Insurance

What do you need to know about home insurance?

It might be difficult to know where to start your search for home insurance with so many firms offering a variety of products.

Here’s all you need to know about home insurance.

Contents coverage vs. building insurance

There are two forms of protection available with home insurance.

The first is buildings insurance, which protects the home's structure. It acts as a safety net if your home's walls, windows, or roof are damaged.

Contents insurance, on the other hand, protects the things inside the home. When you first get a policy, your insurer will normally ask for details of any pricey objects in your home. You will be able to claim money for valuables such as laptops, jewellery, and furniture in the event of a fire or flood.

Is insurance a legal obligation?

Home insurance is not required by law. It is, nevertheless, strongly advised.

In the event of a tragedy, knowing you have solid insurance cover in place will give you peace of mind. It can also save you a lot of money by covering repairs and replacements that you might not have been able to afford otherwise.

Insurance supplements

Conventional house insurance can be enhanced with a variety of options. Many homeowners benefit from these because it allows you to create a customised approach for your family's current needs.

Legal expense insurance

Any legal procedures connected to the home will be covered by legal expenditure insurance. Many policies go much further and provide coverage for personal injury, death, and employment-related risks.

This insurance will typically cover the costs of retaining legal counsel, and some insurers may even reimburse lost wages throughout a dispute.

Emergency preparedness

As the name implies, this will safeguard your family from home emergencies such as burst pipes, a broken boiler, or a pest infestation. An emergency is defined by insurers as anything that renders your home uninhabitable or dangerous.

Students' contents Insurance

Building insurance is the landlord's obligation for student residences, just as it is for other rentals. Student contents insurance can be purchased separately or as part of a family policy. This protects belongings in the event of a break-in, fire, or flood.

For more information, contact our experienced team.

Protecting you and your business from cybercrime this year

We all understand the benefits of insuring our homes, possessions, cars and even our phones – but are you and your business insured against cybercrime?

A leading consumer credit reporting organisation has offered predictions about 2022’s top five cyber threats.*

As consumers, digital identity theft and retail fraud are the two main cyber threats facing us this year:

Digital identity theft

Digital identity theft is the cybercrime most likely to affect us. It is estimated that over 500 identities are stolen every day in the UK.

We have welcomed the convenience of swiping to ‘buy with one click’, the speed of password-free online experiences and the ease of being able to make real-time payments from our phones. But anyone with an online presence can be a victim of online identity theft.

Retail fraud

Product shortages and price increases are expected to contribute to retail fraud this year. When products are either unavailable or overly expensive, we can be tempted to look beyond our usual selection of retailers. But, when buying from companies we are not familiar with, we become more susceptible to being duped by online scams. Fake positive reviews can be very convincing and, if shoppers fail to verify the authenticity of a business, they are at risk of parting with their hard-earned money and receiving nothing in return.

In the business world, deep fake synthetic identity fraud, fraud-as-a-service and ransomware attacks are three of the most disruptive types of cybercrime we may face this year:

Deep fake synthetic identity fraud

Last year saw a rise in artificial intelligence being able to impersonate customers’ voices and faces, making it difficult for businesses to verify identities. This type of cybercrime is set to increase in 2022.

Fraud-as-a-service

Banks around the world have begun to see a trend of fraudsters purchasing bots to contact their customers and retrieve one-time passwords. In 2022, this type of cybercrime is expected to affect a diverse range of organisations, from retail businesses to government organisations.

Ransomware attacks

Data held by a business is now a prime target for cybercriminals. As populations continue to host more and more types of data online, private information such as banking details, employment files and medical records will become increasingly susceptible to widespread and sophisticated ransomware attacks.

Talk to us today about the best insurance policies to cover yourself and your business against the most common cyber threats this year.

*Cybernews