Home insurance disruptor buzzvault now allows customers to split their premiums into monthly payments.
Designed to spread the cost of cover, the personalised monthly scheme starts from £6.78. The new buzzvault feature comes as it highlights issues around underinsurance, with one in four UK households said to have no insurance in place for their possessions.
“Cost is typically one of the main obstacles to people buying home insurance,” noted buzzvault chief executive Becky Downing. “It’s so easy to think ‘it won’t happen to me’ and avoid paying potentially hundreds of pounds based on guessing the value of your contents.
“A monthly payment option now means customers can spread out the cost of their policy, and rest in the knowledge that this policy is 100% tailored to them.”
Underwritten by Great Lakes Insurance, buzzvault home contents policies are based on an itemised inventory of a policyholder’s belongings.