Insurance Agency Singapore | Commercial Insurance and Personal Insurance

  • Products
    • Commercial Insurance
      • Work Injury Compensation
      • Public Liability
      • Foreign Worker Medical
      • Foreign Worker Bond
      • Fire/Burglary Insurance
    • Personal Insurance
      • Motor Insurance
      • Travel Insurance
      • Home Insurance
      • Personal Accident
      • Domestic Maid Insurance
  • Support
  • Contact Us
  • Blog
  • About Us

Unravelling the mysteries of home contents insurance

27 July 2018 By admin Leave a Comment

A study by Co-op Insurance discovered nearly half of adults admitted they found this type of insurance ‘confusing’ and nearly three quarters said they wanted insurers to use less jargon.

Meanwhile, 17% confessed to having no idea what their policy actually covered.

Co-op said that with the average value of home contents insurance currently standing at just under £36,000, a total of £175 billion worth of items were without cover.

Contents cover explained

Nearly all the people questioned for the study said they would welcome moves to make policies more easy to understand, suggesting providers used bullet points, real life examples and cut out the jargon.

Now, in response, Co-op has launched an online tool to help make home insurance policies more understandable to customers.

Caroline Hunter, head of home insurance at Co-op said it was ‘concerning’ that two fifths of adults were confused when it came to contents insurance and that this resulted in many people going without cover.

She added: “With 92% of people feeling insurers need to do more to make policies transparent, it’s evident that the industry needs to look at new ways of effectively communicating policies simply.

By Kate Saines

See Full Story at www.themoneypages.com

Share this:

  • Facebook
  • Twitter
  • LinkedIn

Filed Under: Interesting Stuff Tagged With: home contents insurance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Categories

  • Domestic Maids
  • Golf
  • Happenings
  • Health
  • Homepage
  • Industry
  • Interesting Stuff
  • Products
  • Tips
  • Uncategorized

Contact Us

  • 1 Soon Lee Street #02-43, Pioneer Center, Singapore 627605
  • Tel: 68978226
  • Fax 68978086
  • Business Hours:
  • Mon – Fri: 8am – 6pm

Our Location

At the west side of Singapore, our office sits on the second floor of the building.

1 Soon Lee Street
#02-43, Pioneer Center
Singapore 627605

Our Products

  • Fire/Burglary Insurance
  • Foreign Worker Bond
  • Foreign Worker Medical
  • Public Liability
  • Work Injury Compensation
  • Domestic Maid Insurance
  • Home Insurance
  • Motor Insurance
  • Personal Accident
  • Travel Insurance

Find Out More

We would love to hear your insurance needs. Tell us all about it by filling up our contact form.

If not, give us a call at +65 6897 8226
or email us at enquiry@credence.agency

Copyright © 2023 | Credence Agency