"Value" not "Price" for Home Insurance
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In January 2016
the ABI published its first ever report on
GI claims success rates5 and it has been
quite an eye-opener. While 99 per cent
of motor claims and 87 per cent of travel
claims are paid in full, only 79 per cent
of home insurance claims are currently
successful – not because insurers don’t
want to pay out, but because customers
are claiming for things that simply aren’t
covered by their chosen policy.
Price comparison sites make price the main decision factor, not the quality of cover.
Price is important, but value more so. If a policy doesn't pay out, its worthless !