Are you protected for winter?

In the build up to the festive season there are always so many things to prepare. But one thing can easily be overlooked… protection. From winter weather to high value items, have you made sure your policies can handle what this season brings?

 Presents and Correct

‘Tis the season for shopping, or at least that’s what the adverts suggest. This time of year, it’s likely you’ll have more high-value items in your house; you might be stocking up on stocking fillers or buying yourself gifts in the countless seasonal sales (no judgement from us). Regardless of the why, there are ways you can make sure your contents insurance is up to the task and avoid a nightmare before Christmas.


Firstly, some insurance providers will offer enhanced cover around religious festivals, such as Christmas

and Hanukkah. You can sit back with a cuppa in one hand and your completed gift list in the other, without worrying about presents being damaged or stolen. This cover is not universal, so check your current contents policy and contact your adviser to discuss your options if you would like it.


Secondly, if you have been treated to a gift with a rather large price tag then you should check the single item limit on your contents insurance. This limit means the policy will only pay out up to a specific amount for one item. It varies but the limit is usually between £1,500 and £2,500. So, check what value your policy will cover and, if your new item

is above the limit, you may want to consider making it a named item. This could increase your monthly premiums, but otherwise the item won’t be fully covered should it need replacing.

Winter Weather

A Government-commissioned review has concluded that potentially tens of thousands of homes in flood-risk areas aren’t protected against flood damage. This protection usually consists of buildings insurance for the property and contents insurance for your belongings. Without this, should you be the victim of flooding you may find yourself facing a hefty bill to replace your valuables and repair your home. And that would probably be the last thing you’d want.


The review also found that although most of the homes investigated had insurance, 6% of the policies didn’t cover flood damage. Whether a provider can omit flood damage cover depends on various factors, such as when the property was built. So, check your policy to see if you’re protected.


Similarly, not all insurance policies cover external buildings, such as sheds. So, if you are concerned about damage to your outbuildings caused by floods or storms, check your cover. You may have to pay extra for this, so speak to

your adviser if you want to know more. They will help you figure out your options or put you in touch with an authorised GI specialist if necessary.


If you’d like to discuss your protection needs, speak to your adviser today.

The remortgage and product transfer markets have been affected in part, but remain competitive and so there may still be attractive options out there for you. It’s also worth bearing in mind that difficulties in obtaining physical property valuations may delay certain products in delivery. For a full assessment of the best choices for you, contact your adviser. 

Mortgage Payment Holidays
Many lenders are now offering mortgage payment holidays if you’re struggling to pay your mortgage in the current environment. It’s important that you follow the correct procedures laid out by your mortgage lender instead of simply cancelling direct debits or not paying. Your adviser can take you through the next steps for you if you have any further questions.

Review what protection you have in place
While you are assessing your mortgage choices, now may be a good time to take a closer look at what insurance and protection policies you have in place to protect the things you value the most. Our adviser can take you through these options alongside any mortgage enquiries you may have.