Howard Insurance

05/04/2026

05/04/2026

Support my Mighty Hike challenge for people living with cancer

10/12/2025

To enable us to spread even more festive cheer this season we are open on Mondays on the run up to Christmas! 🎄

See our opening hours for the next few weeks below!

We are open tonight so if your feeling spontaneous why not pop down! 🍻

21/09/2023

Well we're all settled in at our new office, got a commercial insurance renewal coming up? Give us a call, see if we can beat your renewal premium!

16/06/2023

What claims inflation means for you in 2023
Costs for materials and energy continue to climb in 2023, caused by a number of situations including the continued fallout from the Covid Pandemic, Brexit and the war in Ukraine. The impact of inflation has become widely apparent across insurance products - particularly for lines such as property, motor, business and construction. But what does this mean for insurance customers?

What is claims inflation?

Claims inflation is the increase in the amount it would cost to settle an insurance claim. This is due to rising costs in labour, materials and energy - so a rebuilding project in 2023 will cost significantly more than it would have done a year ago.

Why are my insurance premiums increasing?

Simply, because the cost and demand of raw materials parts and labour has increased significantly, to address this claims inflation, your insurer will increase your insurance premiums to cover the rise. Insurers calculate the increase in your insurance premium by using an index that they apply to the declared value of items, energy and labour costs. The result reflects the current, true cost of reinstatement, rather than how much it cost back when you first took out your policy.

What should I do about my insurance premiums?

At Howard Insurance, we will work closely with you to determine the best policy that suits your needs, but there are steps you can take yourself to keep your insurance premiums as low as possible, show insurers you are a good risk and mitigate any potential loss:

For property insurance customers: Carry out all essential maintenance and conduct regular checks on your roof and gutters. Record any activities where you are keeping guttering clear of debris, mending and renewing areas of concern
For business insurance customers: Devise a business interruption/recovery plan before you experience an incident to help to keep future costs in check. Make sure your indemnity periods are adequate as mentioned below
For motor insurance customers: Install a dashcam in your car to record any incidents or accidents. This could help to speed up the claims process and helps the insurer to confirm that you are not committing insurance fraud, which is one of the causes behind higher insurance premiums.
If you are a business insurance customer, whilst reviewing your business interruption/recovery plan, it is advisable to check the indemnity period for business interruption cover to account for supply chain issues and delays - Brexit, Covid-19 and the war in Ukraine have resulted in workplace shortages and supply chain delays, which means that repair work could take significantly longer than it would have in previous years. The British Insurance Brokers’ Association also recommends calculating your gross profit carefully to avoid underinsuring, as well as taking into account your business’s predicted growth. We can help you with this.

For most contents insurance customers, your items will be insured on the amount it would cost to replace them as new - insurers will take inflation into account when you make a claim, so make sure you declare the items’ values accurately when purchasing your policy. For harder-to-value items and rebuild costs, it is advisable to use a specialist property surveyor to determine the value, ensuring they are Royal Institution of Chartered Surveyors (RICS) certified.

Generally, as an insurance customer, the more detail and data you can provide about the incident, and the sooner you can provide it, the sooner the insurer can intervene and the claim can be settled—and the greater the potential to minimise costs.

Want to know more about how we can help? Get in touch on 0191 2961666 today.

Our FCA Firm Reference Number (FRN) 302368

We are a long established Commericial Insurance Broker. Howard Insurance, we've got you covered!

15/06/2023

What claims inflation means for you in 2023

Costs for materials and energy continue to climb in 2023, caused by a number of situations including the continued fallout from the Covid Pandemic, Brexit and the war in Ukraine. The impact of inflation has become widely apparent across insurance products - particularly for lines such as property, motor, business and construction. But what does this mean for insurance customers?

What is claims inflation?

Claims inflation is the increase in the amount it would cost to settle an insurance claim. This is due to rising costs in labour, materials and energy - so a rebuilding project in 2023 will cost significantly more than it would have done a year ago.

Why are my insurance premiums increasing?

Simply, because the cost and demand of raw materials parts and labour has increased significantly, to address this claims inflation, your insurer will increase your insurance premiums to cover the rise. Insurers calculate the increase in your insurance premium by using an index that they apply to the declared value of items, energy and labour costs. The result reflects the current, true cost of reinstatement, rather than how much it cost back when you first took out your policy.

What should I do about my insurance premiums?

At Howard Insurance, we will work closely with you to determine the best policy that suits your needs, but there are steps you can take yourself to keep your insurance premiums as low as possible, show insurers you are a good risk and mitigate any potential loss:

For property insurance customers: Carry out all essential maintenance and conduct regular checks on your roof and gutters. Record any activities where you are keeping guttering clear of debris, mending and renewing areas of concern
For business insurance customers: Devise a business interruption/recovery plan before you experience an incident to help to keep future costs in check. Make sure your indemnity periods are adequate as mentioned below
For motor insurance customers: Install a dashcam in your car to record any incidents or accidents. This could help to speed up the claims process and helps the insurer to confirm that you are not committing insurance fraud, which is one of the causes behind higher insurance premiums.

If you are a business insurance customer, whilst reviewing your business interruption/recovery plan, it is advisable to check the indemnity period for business interruption cover to account for supply chain issues and delays - Brexit, Covid-19 and the war in Ukraine have resulted in workplace shortages and supply chain delays, which means that repair work could take significantly longer than it would have in previous years. The British Insurance Brokers’ Association also recommends calculating your gross profit carefully to avoid underinsuring, as well as taking into account your business’s predicted growth. We can help you with this.

For most contents insurance customers, your items will be insured on the amount it would cost to replace them as new - insurers will take inflation into account when you make a claim, so make sure you declare the items’ values accurately when purchasing your policy. For harder-to-value items and rebuild costs, it is advisable to use a specialist property surveyor to determine the value, ensuring they are Royal Institution of Chartered Surveyors (RICS) certified.

Generally, as an insurance customer, the more detail and data you can provide about the incident, and the sooner you can provide it, the sooner the insurer can intervene and the claim can be settled—and the greater the potential to minimise costs.

Want to know more about how we can help? Get in touch on 0191 2961666 today.

We are a long established Commericial Insurance Broker. Howard Insurance, we've got you covered!

21/03/2023

10 Reasons to Use an Insurance Broker for peace of mind when it comes to insurance coverage

Are you looking for the right level of insurance coverage but don't want to spend too much time and effort on it? An insurance broker may help you find a better deal, navigate complicated coverage options, and give you peace of mind with impartial advice. Here are 10 reasons why you should use an insurance broker for your insurance needs.

1. Impartial Advice: An independent broker provides access to a range of products and insurers and offers impartial advice. Unlike direct insurers, they are not tied to any one company and act as your agent.

2. Expertise: A broker can use their knowledge to highlight areas of cover you may not have considered, such as cyber, environmental, or trade credit insurance.

3. Plain English: Brokers are responsible for explaining insurance policies in plain language and making sure any optional extras or exclusions are clearly disclosed.

4. Risk Management: Brokers play a key role in risk management and can help you ensure your business is presented to insurers in the right way.

5. Selecting the Right Insurer: Your broker can advise you on the financial strength and quality of different insurers to help you make an informed decision.

6. Affordable Pricing: Brokers can often negotiate lower rates from insurers and offer flexible payment options, such as direct debit instalments.

7. Tailored Communication: A broker will be flexible on how you want to communicate, whether it's face-to-face, email, telephone, or video.

8. Access to Advice and Service: A broker will provide ongoing support and monitor your coverage limits and policy terms.

9. Claims Support: A broker can provide valuable advice and guidance on claims and act on your behalf to achieve a fair settlement.

10. Peace of Mind: Entrusting your insurance needs to a broker provides peace of mind knowing that an expert is working on your behalf to secure the best coverage and deal for you.

Finding the right insurance broker

It’s all very well using a broker but it’s also crucial to ensure you find the right one. At Howard Insurance, we’re dedicated to finding tailored solutions for each and every one of our personal and business clients. Want to know if we’d be a good fit? Get in touch with a member of the team today on 0191 2961666.

We are a long established Commericial Insurance Broker. Howard Insurance, we've got you covered!

16/09/2022

Our office will be closed on Monday the 19th of September for the Queen's funeral.

27/04/2022

Do you own an unoccupied Residential or Commercial property? If your tenants have moved out; do you know if you have the correct cover?

Call us now for a fast no obligation quote for your unoccupied property.

We are a long established Commericial Insurance Broker. Howard Insurance, we've got you covered!

05/04/2022

What you need to know about becoming a landlord

Thinking of letting out your property? Here's what you should consider before you do.

Be prepared to work all hours
Being a landlord is not a 9-5 job and while there will be plenty of days where you can dictate your own schedule, there will be many others during which you will be pushed and pulled in all directions during unsociable hours. In an emergency, you could even get calls from tenants in the middle of the night. To make sure you’re prepared for anything, you’re going to need a strong network of contacts in the area.

Know the right people
As a landlord, unless you live close to your let property, you will need to know some reliable handymen and trade workers, including those who can complete plumbing and professional electrical work. Even if you’re handy in the home, no-one is skilled in all areas so there will always be a time you need to call upon expert help. Make sure you know the right people before an emergency occurs.

There are a lot of rules to follow
Landlords are plagued by rules and regulations, from how to correctly handle the tenant’s deposit through to ensuring safety standards are adhered to in the home and correctly evicting tenants. Make sure you keep up to date with your legal requirements to ensure that everything is done by the book. That way, you can maintain a great reputation and ensure the safety of your tenants.

Find the right tenant
First, you need to decide who you want to rent to. Think about what you would and wouldn’t accept in your buy-to-let property. Do you want to rent to students or are you targeting professionals? Are you looking to draw in families or is your focus on single tenants? Think about whether you will accept pets, smokers and DSS applicants. You have every right to decide who you wish to let your property to, but it doesn’t hurt to be flexible to draw in the right tenant.

Get specialist insurance
Standard home insurance just won’t suffice if you are a landlord as you need specialised cover which will protect you, your business and your tenants. With Property Owners Insurance, your property will be protected against the standard risks such as fire, flood and storm damage, as well as your personal contents if you choose. Additionally, it will cover your business against liability claims, loss of rent, alternative accommodation for your tenants and more. To find out more about Property Owners Insurance, get in touch with Howard Insurance on 0191 2961666

We are a long established Commericial Insurance Broker. Howard Insurance, we've got you covered!

04/04/2022

Index Linking
What you need to know
Have you heard of index linking yet? At the risk of it becoming another term that people hear but don’t understand – we’re here to explain it as simply as we can.

When you insure your home, you need to consider two things.

The rebuild value
How much it would cost to build your property back from the ground up to how it was before, following something like a fire.

The sum insured
This figure is designed to cover inflation during the insurance year and needs to be considered on top of the rebuild value.

To calculate the difference between these two things, the insurance industry uses something called index linking. This is used to ensure that a property doesn’t become underinsured. This can be applied to both buildings and contents insurance.

When a policy is index linked, the rebuild value will increase automatically when the cost of raw material, labour and professional service fees rise due to inflation. It is not linked to the rate of inflation per say, it’s linked to the effect that inflation has on the difference factors used to rebuild a home. This saves you time re-valuing your property annually.

Is index linking used on all buildings and contents policies?

Index linking is optional, which means that if you don’t ask for it, you probably won’t get it. You can choose to cancel index linking at any time but this will mean that you need to manually review your policy to ensure you still have the right cover in place.

How do I calculate the rebuild cost of my policy?

For index linking to work properly, the rebuild value must be correct at the start of the policy. If you’re unsure about the rebuild value of your property, Howard Insurance can help you get this right with a Rebuild Cost Assessment.

We are a long established Commericial Insurance Broker. Howard Insurance, we've got you covered!