Acts of God

A tornado in North London Street has left a trail of destruction. House roof tops have been ripped off and cars have been badly damaged following this freak weather.

The Association of British Insurers (ABI) advises that damage to homes and business will be covered by buildings insurance. Most household policies will cover the cost of alternative accommodation (up to policy limit) if you need to move out of your home wile repairs are carried out. Comprehensive motor insurance policies will cover damage to vehicles. Motorists who only have third-party, fire and theft cover for their cars would be unlikely to receive compensation.

Any whose property has suffered from damage should contact their insurer immediately for advice on making a claim. If temporary repairs are necessary let your insurer know as they may wish to inspect the damage before permanent repairs are carried out. Always make sure that you keep a record of damage and keep a copy of correspondence with your insurer. It is always a good idea to take photographs of any damage to your property to show the insurance company.

Are you insured?

This recent freak event should start alarm bells ringing to ensure that you have adequate home insurance in place. It is unlikely that homeowners would have enough money readily available to pay for the repairs to their home out of their own pockets. This is why home insurance is so important. Home insurance is designed to provide a financial safeguard should your valuable asset be struck by disaster or if your possessions are damaged or stolen.

It is impossible to prevent forces such as a tornado from striking your home but you can make sure that you have adequate levels of home insurance cover. The following points should enable you to make sure that you will be fully covered if a disaster of any nature should strike.

• 1. Keep your sum insured up to date: This is the maximum the insurer will pay out in the event of a claim. The correct level of buildings cover should cover the full rebuild cost of the property and not the market value. Contents insurance should include all the possession inside your home. Remember to update your policy with any new purchases or home improvements.

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