What does the term "index linked" mean when used with buildings insurance cover? - {term} index of / {jpg}
Indicated usually means that the maximum amount that the insurance company pay for the complete reconstruction of your home if it is destroyed is (often) by fire, but also a gas explosion or other accident linked to an index.
The index most commonly in the United Kingdom is the Royal Institution of Chartered Surveyors index of the cost of reconstruction, as in an earlier reply. But it may be, and its policy document will tell you what the speed. It could be the CPI or RPI, however, occur most insurance companies in the United Kingdom RICB more specific index.
His cousin is not connected in this index. The insurer will determine what premiums each year and depends on many factors, one of the most important is the competitive pressure. Your premium could go, even if the insured has increased.
Friday, January 15, 2010
{term} Index Of / {jpg} What Does The Term "index Linked" Mean When Used With Buildings Insurance Cover?
4 comments:
Ie, a member of the Royal Institution of Chartered Surveyors Cost Index Reconstruction
the sum insured will be indexed to inflation, so that should in theory by higher repair costs, etc. are covered
This means that the insurance premiums will be increased annually by RPI (Retail Price Index).
, Parallel to the
RPI - Retail Price Index - (annual rate)
or
CPI - Consumer Price Index (annual amount is based on a standard "basket" of services / products)
The propaganda of the sample page of the company: --
Indexed - The Family Income Security
Guaranteed income family in which the insured person may, if he or she chooses, the higher premiums based on the index of consumer prices and thus increase the sum insured.
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