ABI figures show almost a fifth (17%) of UK households have cancelled their buildings cover,
and nearly a quarter (22%) have cancelled their home contents insurance
Halifax Home Insurance has responded to market concerns highlighted by the ABI, by launching its new enhanced £100 Thank You Bonus today (September 7th 2009). The offer provides homeowners with an affordable way to ensure their homes are fully protected at a time when many are thinking of cancelling their insurance policies in order to reduce household bills.
The offer will provide customers with £100 cash back when they take out a buildings and contents policy, together with the selection of three cover choices for the home. It will also allow customers to spread the cost of insurance by paying monthly by direct debit at no extra cost, and by giving a £50 loyalty bonus every year they renew.
Head of Underwriting for Halifax Home Insurance, David Rochester said:
"When a recession hits, many homeowners look for ways to save on their monthly bills, however, it is crucial that homeowners do not cancel their buildings and contents cover to save money. In doing so, customers are potentially exposing themselves to the significant costs of burglary, fire, flood or in the worse case, the full rebuild costs of a property and outstanding mortgage payments.
Our enhanced Thank You Bonus enables customers to take out a more comprehensive level of home buildings and contents cover, giving them peace of mind that their homes and possessions are fully protected."
The new £100 Thank You Bonus has been developed following the enormous success of the original £50 Thank You Bonus launched in June 2008, which offers £50 Thank You to homeowners when they take out a policy and also £50 each year they renew, provided they don't make a claim.
For homeowners who don’t want to pay monthly by direct debit, or who don't need the extra cover options, the standard Thank You Bonus is still available, giving more choice for customers.
