The new You Choose home insurance policy allows people to decide how much cover they take and, consequently, how much they pay for it.
Each policy can be designed around someone's lifestyle meaning that they only pay for the cover they need. On top of the core cover, people can choose how much to insure themselves for things such as technology and home entertainment, garden cover, and personal items such as jewellery.
Gary Fowler, head of insurance and sales operations, commented: "For too long home insurance has been sold as a standard plain vanilla package that doesn't take into account how much people's needs and lifestyles differ. For example, many home insurance policies include cover for gardens but what if you live in a flat with no garden? This new insurance policy means that people can now choose the right level of cover for the things they do really want to protect and they no longer have to pay for things they don't have.”
There is a choice of three core cover options:
Core Buildings only
Core Contents only
Combined Core Buildings & Contents
Once the core cover has been chosen, extra cover options can be added. The options are:
Technology and entertainment
Personal items
Garden
Accidental damage
Home emergency
Legal expenses
Depending on the Core Cover Option chosen, these benefits are included at no extra cost:
'New for old' cover on items that are stolen or damaged.
Cover for replacement locks and keys if stolen, lost or damaged.
Contents cover automatically increases by £3,000 for items purchased for religious festivals, such as Christmas presents.
Increase in cover for wedding gifts when you get married.
Financial help if your home cannot be lived in, for example after a fire or flood.
