New "You Choose" home policy launched

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Many of us have been frustrated in the past by the “one size fits all” philosophy adopted by insurance companies. Now the Yorkshire Building Society has come up with the solution. Their new You Choose policy allows homeowners to opt for only the insurance that they actually need. After all, if you are a technophobe there is no reason to pay for insuring expensive equipment which you are never likely to own. Likewise, why pay for garden contents insurance if you live in a flat?

Yorkshire Building Society claims that You Choose is a whole new concept in insurance, which allows customers to take control of what cover they include depending on their lifestyle, and consequently the price which they pay for their policy.

Customers have the choice of three Core Covers, namely Buildings only, Contents only or Building and Contents combined. It is then up to the individual to decide which of the various Extra Cover Options they want to buy.

The options available are as follows:

  • Technology and Entertainment – cover provided can be between £500 and £15,000 and includes cover for portable items lost or damaged outside the home
  • Personal Items – cover can range from £500 to £25,000 and includes items as diverse as jewellery, credit cards and mobility scooters
  • Garden – cover starts at £500 and can be increased up to £10,000. Items included are trees, shrubs, plants, equipment, furniture, garden heaters and outdoor toys
  • Accidental Damage – cover is provided for accidental damage to the fabric of the home or contents
  • Home Emergency – cover of up to £500 per claim is provided and is designed to include plumbing and electrical repairs as well as accommodation if you have to leave your home due to an emergency
  • Legal Expenses – standard cover is up to £50,000 and covers a multitude of situations including tax investigation, personal injury and consumer protection.

For full details of the policy see the Yorkshire Building Society website.


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#1 Home insurance, also commonly called hazard insurance or homeowners insurance (often abbreviated in the real estate industry as HOI), is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of its use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory. It requires that at least one of the named insureds occupies the home. The dwelling policy (DP) is similar, but used for residences which don't qualify for various reasons, such as vacancy/non-occupancy, seasonal/secondary residence, or age.

Home Insurance
Posted by Home Insurance on 03/05/2010 at 12:56
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