Sainsbury's Bank Home Insurance could "dramatically reduce cost"
www.moneynews.co.uk > Insurance > Sainsbury's Bank Home Insurance could "dramatically reduce cost"
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Sainsbury's Bank Home Insurance could "dramatically reduce cost"
Wed 5th Apr 2006
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The bank estimates that the annual cost of looking after a house is now £10,048, which is around 16 per cent higher than the level recorded in 2003-04.
A number of features have recently been added to the Sainsbury's Bank Home Insurance offering, including specified items cover for higher value possessions, insurance for properties with up to eight bedrooms and cover for homes built before 1850.
Karen Preston, manager of Sainsbury's Bank Home Insurance, said: "The costs involved in running a home are rising. This makes it all the more important for homeowners to shop around in order to make sure they are getting the very best deals available."
The company reports that mortgage repayments account for around 59 per cent of the annual cost of running a home, while alterations and improvements use up 13 per cent of annual spending.
Energy regulator Ofgem has estimated that these costs are around £1 billion more than they could be for over ten million UK customers if they were willing to shop around.
Sainsbury's Bank Home Insurance offers a 40 per cent no claims discount if a premium for such a facility has been purchased, as well as a 10 per cent online discount and a five per cent saving available through purchasing combined buildings and contents cover.
A free guide for customers running a home is available on the company's website.
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Related News : Sainsbury |
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