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Consumers in the UK can start enjoying the benefits of a new type of insurance cover from a new home insurance provider.
 The home and contents insurance cover works by investing twenty percent of premiums paid by consumers, and then after three years returns the proceeds of the investment to the consumer, which could see some consumers really cashing in with their returns.
There are restrictions tied to the insurance cover, and it is aimed at those with more expensive properties or with multiple properties, who spend around £3,000 or more on their home and contents cover each year. The insurance has been launched by Private Insurance Portfolio and Sterling Insurance. The 20% of premiums will be invested by the insurance company in a range of UK money markets.
Also, for those do not make a claim within the three year investment period, the twenty percent plus any proceeds made from it will be returned to the consumer.
This is an insurance policy that is aimed at wealthier homeowners, which for some means that it is a way that can help the rich get richer. But for those that are lucky enough to be able to spend this sort of money on their home insurance cover each year, this could be a great way to cash in and make some money from your cover, as well as a great incentive from the insurer to deter consumers from making a claim.
The director of the insurance company stated that consumers that do not make a claim on their cover deserve a reward.
She stated: 'For too long, people haven't received enough reward for not claiming on their household insurance. Our clients will receive both a competitive premium and a return on that premium.'
Tom Smith
04.05.07
Further Information:
- No Claims Discount - A no claims bonus can significantly reduce the cost of your car insurance cover.
- Home Insurance Advice - Here is some general advice on what is covered and what isn't. How to insure your home for the true amount and more
- Reduce Your Home Insurance Premiums - Learn the best ways to reduce you monthly payments and also making your home a safer and more secure place
- General Home Insurance Tips - We have created a range of tips on what to look out for when searching the internet for home insurance.
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