Blackpool-based property owner, Barry Jackson, discovered buying home insurance was not as straightforward as he had previously experienced, after burglars took over £9,000 worth of goods on the first day of his Christmas holiday in 2008.
Whilst the claim was paid out, his insurer at the time stipulated that an alarm be installed within three months of the theft, which it was. However, at his renewal the following year, Mr Jackson’s insurer wanted confirmation that the alarm was approved by the National Approval Council for Security Systems (NACOSS) or had been installed by a professional.
Unable to confirm this, the insurer specified it could only insure him going forwards if he was willing to change his perfectly functional alarm system for one that matched this new requirement, all at his own cost.
“At renewal they asked if the alarm was NACOSS approved and/or maintained” said Barry Jackson. “I confirmed that it wasn’t and that they had not stated this was a requirement previously. After much to-ing and fro-ing they accepted that I had not been informed of this condition but as their panel of insurers would not accept a ‘generic’ alarm system they could not insure me“.
Mr Jackson was forced to look elsewhere and had to ensure he declared the situation with the alarm and having special terms imposed on his insurance policy to new insurers which saw him struggle to find affordable insurance for his property. He spent months with his home completely uninsured until he found homeprotect through a comparison website.
Launched earlier this year, homeprotect is the first insurance provider to cater online for people typically shunned by mainstream rivals – estimated to be 15% of the overall home insurance market. These are all people the insurance industry has historically classified as ‘non standard’ and is therefore typically unwilling to cover, either because the risk is deemed too high or complex or because their underwriting remit does not cater for people outside the ‘ordinary’with unusual circumstances.
“Most insurance providers focus on the 85% of the public who are relatively uncomplicated, and they have no interest in people whose circumstances fall outside the ordinary” said David Walker, Managing Director of homeprotect. “Well, people with unusual, unique circumstances or with special terms imposed no longer have to accept that getting their home insurance sorted is going to be a lengthy and frustrating process. With our unique homeprotect service there is no need to ring around to find a specialist broker and then wait days for an insurer to review their circumstances and offer a price. Through technology, we have built a system which aims to offer all customers a quote, no matter what their circumstances, and enable them to obtain immediate cover – either online or over the phone”.
“The only term imposed by homeprotect was a condition that whatever security i decided to have at my property was switched on and working when I was not present, which is common sense” continues Mr Jackson, “I couldn’t be happier. Up to the point of insuring with homeprotect I was getting quite worried as I hadn’t been covered for a few months and was becoming concerned that I would not be able to find insurance at a reasonable premium with reasonable conditions”.
Ends
Notes to editors
- homeprotect won the broking initiative of the year at the 2010 British Insurance Industry Awards following the success of their pilot programme.
- homeprotect was shortlisted for the broking initiative of the year at the 2010 Insurance Times Industry Awards.
- homeprotect was shortlisted for best SME business in Kingston Business of the year awards 2010.
- homeprotect is a leading provider of non-standard household insurance online. Non-standard insurance customers include those who live in high flood and subsidence prone areas, those who work from home, asylum seekers, the unemployed, owners of properties with flat roofs, owners of listed buildings, residents of shared occupancy homes and people whose properties are made from non-standard materials.