The UK Insurance Blog

In a recent article “Nationwide provides advice for homeowners affected by floods” practical tips are provided as to what to do in a flood emergency should you have one.

The tips are delivered to you on behalf of the Nationwide Building Society and should be noted in case what has been happening up and down the country should happen to you too.

First of all, get in touch with your insurance company. Above all else, make them aware your home is flooded. If there is a 24 hour helpline, now is the time to use it.

If there is anything you can do to prevent even more damage from occurring, get that underway as soon as possible ensuring permanent work is not being done without at first arranging this with your insurance company.

Although it is tempting to throw out damaged furniture, it is important you hang onto it until the insurance company have inspected it.

Everything that you’ve bought, keep those receipts and for damage limitation move all valuables out of reach of the water. Keep food upstairs out of the way of water damage too.

Do not use gas and electricity or drink tap water until you are told it is safe and pull all furniture away from walls.

Alternative accommodation may be included in your insurance, so make sure you look into that.

Under your comprehensive car insurance, claim for damage to your family vehicle(s).

Once the floods have subsided, these tips should make life that bit easier for those affected. Add oil to hinges and locks. This will prevent corrosion.

Drying out the house will be a lot easier if you keep windows and doors open when it is safe to do so and when you’re around to keep an eye on things. Never leave them open if you have to go out.

Once the insurance company have visited you, you will be free to remove any carpet or floor coverings as well as washing the walls and surfaces down with disinfectant.

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During these tough financial times, people are under pressure to ‘tighten their belts’ outlines the article “Families cut back on savings and pensions to cope with rising costs” Cut backs are going on everywhere you look. People are constantly on the look out for new ways to stretch their money and in some cases people are preparing to default on payments, defer insurance policies and slide into debt. The people surveyed by American Express insurance revealed their savings accounts would be the first to suffer, they would stop paying income protection insurance and other insurances while 14% would stop paying into their pension funds.

The problem of debt seems to be increasing all the time. The people at the CCCS (Consumer Credit Counselling Service) reported an 18% increase on debt advice in July and August on the previous year.

Prices are rising all the time and with increasing food and petrol prices placing more strain on the family finances, twelve per cent of people surveyed revealed they would, if pushed, reconsider paying off their credit card bills. Similarly, people revealed they would look at stopping their monthly car finance payments or paying towards their personal loan balances.

Surprisingly, 8% of people who took part in the survey revealed they would consider dropping their home contents insurance, while 17% would stop their pet insurance. These are the lengths people are willing to go to just to make ends meet while the nation is in the grips of a credit crunch.