Lan-lords of the techno-home
Halifax General Insurance warns new technology will add thousands to home and contents value
Homes of the future are fast becoming homes of the present as more people in the UK signed up for broadband in the last three months than in any other quarter. Nationally more than 5 million people access entertainment services and the net via broadband. Halifax General Insurance believes this could be the beginning of the automation revolution. Theres even the possibility to network appliances so users could phone the oven to be on when they get back from work, or switch on the heating using the internet and local area networks - especially now that broadband is making access quicker. From robot vacuum cleaners, all the way to fully wired, interactive homes, Britons are fast embracing the future. Yet Halifax General Insurance warns Techno homeowners or LAN-LORDS to take account of these advancements, which could potentially double the value of equipment in their homes and the amount of insurance cover required. Howard Posner, CEO of Halifax General Insurance, said: It is easy to see the attraction of automated intelligent homes: at the push of a button curtains can be drawn, floors vacuumed and lawns mowed. These robots and automated systems are an investment and homeowners should ensure that they have the correct cover for these technological additions to the family. Toys are often the first step; its only a matter of time before most homes will have robot and networked appliances as standard. According to the UN Economic Commission for Europe and the International Federation of Robotics, Robots are set to play a major part in family life, not just through doing housework but also as entertainment systems. A staggering 4.1 million robots will be doing jobs in homes by the end of 2007 says the report. Halifax suggests the £999 Electrolux AZ1, the first fully automatic/self navigating vacuum cleaner, has catalysed the growing trend for more futuristic additions to the home. But Halifax General Insurance advises homeowners to seek professional help when installing new equipment. Failure to do so will dramatically increase risk of damage to homes. Howard Posner continues: Depending on how the equipment is installed, there may be an increase to either the rebuild cost or contents value of the home. With Halifax Home Insurance theres no need for concern. Halifax avoids the risk of underinsurance by providing no overall limit on the sum insured for both buildings and contents. So long as you know exactly what you need to replace and youve kept us up-to-date with high risk items, theres no problem. For the more exclusive items we complement our unlimited sum insured offering with up to a £15,000 limit on specified items. Financial News Feeds provided by OneCompare.com
Date published: 11/11/2004 1:03:30 PM
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