People are beginning to store more and more personal posessions in their garden sheds and are not insuring them.

Mike Pickard, Head of risk and underwriting for a leading insurance company, said: ‘Even household items are now being stored outdoors, blurring the distinction between home contents and outbuilding and garden contents.’

One report has found that close to 650,000 UK homeowners have had items stolen from garden sheds or garden storage areas in the last year.

This research indicates that 11% of homeowners will spend more than £500 on their gardens and garden accessories in 2008, but these same people won’t take time to ensure the safety of these possessions.

Other research has shown that 93% of households regularly leave items outside overnight, and that even though 14% of homeowners have posssesions in their sheds valued up to £1,500, of the 69% of households with a shed, 9% never lock it.

This could render home insurance invalid, the moral of the story, keep your valuables locked away in a safe insured place.

Tougher planning controls are needed if flood insurance is to remain widely available for new homes, an insurance trade body warned.

The Association of British Insurers (ABI) said a third of the three million new homes the Government planned to build by 2020 would be on a flood plain.

It added that during the past year alone, 13 major developments had been given the go-ahead despite advice from the Environment Agency that they would be at risk from flooding. Around seven of the sites are deemed to be at high risk from flooding, including a new caravan park and a development of bungalows.

The group warned that unless tougher planning laws were put in place, increasing numbers of homes would become unsaleable, uninsurable and uninhabitable.

Speaking at the Architects’ Journal conference, the ABI’s assistant director of property Justin Jacobs said: ‘The Government’s ambitious housing plans are in jeopardy unless we reduce the flood risk.

The group said that despite it now being a statutory requirement that the Environment Agency be consulted on new developments, planning permission was still being given despite the agency highlighting flood risks.

Full article at www.thisismoney.co.uk

Norwich Union is warning its customers that installing CCTV at domestic premises will not necessarily result in lower insurance premiums.

While CCVT is still regarded as something of a niche product in the domestic market, demand for the security systems is increasing.

Electrical retailer, Maplin, has reported a 70% increase in its sales of domestic security cameras in the past year.

Over 90 different security cameras and CCTV kits are now available and one of the most popular items is a camera that allows users to view their property anywhere in the world, via the Internet

However, according to Alison Palmer, a household underwriting consultant with Norwich Union, there is insufficient evidence as to whether CCTV systems actually deter criminals.

The insurer does not therefore, take CCTV into account when calculating premiums.

Instead, Norwich Union suggests lower insurance premiums can be secured by fitting a burglar alarm and locks that have been pre-approved by the insurer.

In addition, a small discount is available to customers who are active members of a Neighbourhood Watch scheme.

Original Article at insurancedaily