Choices will replace the current Essentials product to become the home insurance product of choice for consumers across the UK. A Defaqto 3-Star Rated product for both buildings and contents cover (buildings only cover not available), it will offer the customer:
Blanket buildings sum insured cover of up to £500,000 as standard
Temporary accommodation, ground rent and loss of rent cover up to £50,000
The ability to specify the contents sum insured they want, up to £55,000
A compulsory excess of £150 for buildings and contents including accidental damage
Peace of Mind Plus will replace its popular predecessor Peace of Mind, offering an unlimited total sum insured for both building and contents. The product has a 5-Star Rating from Defaqto and is available as a combined buildings and contents policy or as separate buildings and contents policies – it will offer the following:
Up to £10,000 of cover per incident for contents temporarily removed from the home
Cover for the cost of re-landscaping the garden following insured damage up to £2,500
A compulsory excess of just £95 for buildings and contents including accidental damage
Cover for single items of valuables worth up to £2,500 without the need to note them individually on the policy
Cover for single personal possessions up to £2,500 without the need to specify the items under personal possessions cover (pedal cycles limit is £300)
Cover for ground rent the customer is still required to pay if the home cannot be lived in following insured damage
Colin Greenhill, director for Santander Insurance, commented: "Buying your home insurance based solely on price may seem like a good idea, but it may also leave you with poor cover and at risk of being underinsured. If this is the case you may end up paying more in the long run for not having enough cover when you come to make a claim.
"Over the last few years our home insurance products have gained a reputation as offering value-for-money with some of the best cover available in the market. The introduction of Santander Choices and Peace of Mind Plus will continue this offering, providing consumers with a choice of products that will offer the most suitable cover for their needs. And once again, these products have been independently analysed and appraised by leading independent research from Defaqto."
