Oct 4 2017

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#home insurance online

Home insurance

Your choice of optional extras

The Chancellor, George Osborne, confirmed in the Summer Budget on the 8 July 2015 an increase of 3.5%, taking the standard rate of IPT from 6% to 9.5%. The increase takes effect from 1 November 2015.

IPT is a Government applied tax on general insurance premiums. Just as you pay VAT on regular goods, you pay IPT on insurance. There are two rates:

  • a standard rate 6% (increasing to 9.5%)
  • a higher rate 20% – for travel insurance, mechanical/electrical appliances insurance and some vehicle insurance

What does this change mean to you?

IPT is automatically included in the quote that you receive for your insurance. From 1 November 2015, all New Business, Mid-term Adjustments and Renewals will have a 9.5% IPT rate applied, i.e.

  • Inception / renewal date before 1 November 2015: 6%
  • Inception / renewal date on or after 1 November 2015: 9.5%

How will this affect your premium?

Insurance quotes are based on many different rating factors, such as age, geographical location, and occupation as well as any discounts that you may be entitled to like no claims discount on your car insurance. IPT at the increased rate will be applied to all quotes, adjustments and renewal premiums where cover starts on or after the 1 November.

You can access your policy documents by registering for your own personal, secure online ‘myZurich’ account. Alternatively, if you have requested that your documents be posted to you, these should arrive at the address you gave us, within 7-10 working days. However, if you have not received your policy documents, please call us on 0800 408 0991 so we can sort it out for you.

To report a claim in the United Kingdom please call us on 0800 026 1751. Lines are open 24 hours a day, 365 days a year.

You need to make sure that you have enough cover for the full rebuilding cost of your home for buildings insurance and for the total replacement cost of all your belongings as new with contents insurance. The rebuilding cost of your property is different from the market value, and you will need to ensure you have sufficient cover for the full rebuilding cost of your property.

Zurich Home Insurance automatically covers up to £600,000 rebuilding costs and up to £60,000 contents insurance.

The following website can help you to calculate your rebuild cost:

Your PC will be covered as standard for selected events as part of contents cover. Laptops are covered within the home up to £1,500, but not for accidental damage, even if extended accidental damage cover is selected.

If you want cover for accidental damage for laptops or notepads or wish to cover these items outside of your home, you will need to select personal possessions cover. Laptops and notepads over £1,500 in value will need to be specified on the policy.

If you want to know more about what’s covered, just give us a call on 0800 408 0991 .

With Zurich, we offer buildings and/or contents cover. We also offer a range of optional extras such as personal possessions insurance, garden contents cover, legal expenses, personal accident cover, extended accidental damage cover and home emergency expenses.

What’s the difference between buildings and contents?

Where do carpets fit in?

In home insurance terms, buildings insurance covers the structure of your home, including fences, paths, outbuildings and so on; plus anything permanently fitted or soon to be fitted, like kitchen and bathroom units.

Contents insurance covers what’s in your home; your goods, furniture and valuables. Carpets are not part of the structure of your home, so they fall under your contents insurance.

Your home and its contents are probably the most valuable possessions you own. Home insurance is there to help reassure you if something happens to them. If you have a mortgage it will almost certainly be a requirement of the mortgage lender to have insurance for your buildings.

Home contents insurance is your own choice and covers your belongings against events such as theft, fire and flood. Personal possessions insurance covers your belongings away from your home. Further information is contained in the policy booklet.

You may cancel your home insurance policy at any time by telling us, either in writing, using the contact details set out in your covering letter, or by calling us on 0800 408 0991. Please refer to the policy booklet for more details on terms of cancellation, including applicable charges.

Your buildings insurance will cover sudden and unexpected loss of or physical damage to the buildings caused by storm or flood, but not to fences, gates, hedges or railings.

home or when I go on holiday?

Yes, if you have taken out Zurich Personal Possessions cover, which is an optional extra. This insurance covers sudden and unexpected loss of or physical damage, anywhere in the world, to the specified and unspecified items shown in the personal possessions specification that are owned by you or your family.

Will my buildings insurance cover my outbuildings such as the

Zurich Buildings and Contents cover are only available if the property is occupied solely by the policyholder and family.

Zurich contents insurance includes cover for office equipment used for your business, profession or trade up to £5,000.

If your home is used for anything other than paperwork and telephone calls e.g. if you receive visits from clients/customers, employ staff or keep business related cash or stock at the property, then we are not able to offer insurance cover in these circumstances.

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