MORE THAN HALF OF BRITS UNSURE IF HOME INSURANCE COVERS EXTREME WEATHER CONDITIONS

• NatWest has launched new home insurance for its customers, delivered exclusively with insurance technology platform Uinsure, to provide cover at the best available price, at first purchase and at every renewal.
• New research finds almost half (48%) of homeowners haven’t checked whether their home insurance still offers good value in over a year, and a third (33%) say hassle is what stops them switching provider.
• The launch includes the NatWest Home Insurance Tracker, a free service that checks a customer’s existing cover and alerts them if better value cover could be available, whoever they’re insured with.

As temperatures soared in recent weeks across the UK, new research commissioned by NatWest and Uinsure found that many homeowners aren’t clued up on whether their home insurance would protect them if disaster struck.

The research shows that nearly six in ten (57%) homeowners are unsure whether their insurance would cover damage caused by extreme heat, such as subsidence, cracked walls, damaged pipes or guttering. More than one in five (21%) are uncertain whether they would be covered for flood or storm damage.

To help simplify insurance for customers, NatWest has today announced a new home insurance proposition, delivered in exclusive partnership with Uinsure, giving customers quotes in under 60 seconds.

The offering is built around a panel of leading UK insurers who compete on price for the same Defaqto 5 Star Rated cover – both at first purchase and at every renewal.

Cover can be tailored to each customer’s individual needs and circumstances, and the process uses information NatWest already holds to reduce the need to start an application from scratch.

The launch also includes the NatWest Home Insurance Tracker, a free service that lets customers compare their current home insurance cover and cost, whoever they’re insured with. Customers add their policy, and the Tracker automatically alerts them if better value becomes available, sends renewal reminders, and flags severe weather in their area – with no obligation to switch.

Toni Powling, Head of Insurance at NatWest, said: ” Alongside providing quality cover at a competitive price with a quote in seconds, the Home Insurance Tracker means our customers no longer have to keep checking whether they’re getting a fair deal, because we’ll do it for them, even if their cover isn’t with us.

As a bank that supports one in three UK families, we understand the importance of making everyday financial decisions simpler. The Home Insurance Tracker makes insurance genuinely simple to manage.”

A third (33%) say hassle is the main thing that puts them off switching provider, even when they suspect a better deal might be available elsewhere, and demand for a simpler alternative is strong, with 86% of people interested in their bank offering relevant home insurance using information it already holds.

Lauren Bagley, Chief Distribution Officer at Uinsure, said: “As the research shows, a third of homeowners say hassle is the main thing that puts them off switching provider, so many end up staying on cover that no longer offers the best value.

“This partnership strips that complexity out for millions of NatWest customers. The Home Insurance Tracker puts customers in control in a way they haven’t had before, and there’s no better home for that technology than a brand with the recognition and trust NatWest carries. Customers are already registering, and that early response tells us just how much appetite there is for something like this.”

To help consumers protect their homes during the heatwave, NatWest and Uinsure share some top tips:

• Check for signs of drought-related movement – prolonged hot, dry weather can cause the ground to shrink, particularly in clay-rich areas, which can increase the risk of subsidence. Look out for new cracks in walls, ceilings and around doors or windows.
• Maintain trees and large shrubs – trees and shrubs can draw significant amounts of moisture from the ground during dry periods. Ensure they are properly maintained and seek professional advice if you’re concerned about their proximity to your home.
• Inspect pipes and plumbing – extreme weather conditions can put pressure on water systems. Regularly check for leaks and address any issues before they develop into more serious damage.
• Prepare for summer storms – can sometimes followed by heavy thunderstorms. Clear gutters, drains and downpipes to help rainwater flow away from your property and reduce the risk of flooding.
• Protect outdoor possessions – secure garden furniture, trampolines and other loose items, as even in summer, storms can bring strong winds that may cause damage to your property.
• Look after solar panels and roof coverings – severe summer weather can bring hail and strong winds. Regular maintenance and inspections can help identify any vulnerabilities before bad weather arrives. Pay particular attention to flat roofs as exposure to high temperatures and UV rays can cause roofing materials to expand, crack or deteriorate over time, particularly on older flat roofs.
• Heat can exacerbate small defects, blisters or splits in roofing membranes, increasing the risk of future leaks when wetter weather returns.
• Review your insurance cover – while there is no specific insurance cover for heatwaves, many of the incidents associated with hot weather, such as flooding, storm damage and burst pipes, may be covered by your home insurance policy. Regularly review your cover to ensure that you have what you need and compare prices to make sure you’re paying a fair price

To find out more visit natwest.com/insurance/home-insurance/insurance-tracker.html, or sign up directly at tracker.homeinsurance.natwest.com.