Insurance is considered a grudge purchase, however, when it is not there in a time of need, it is one of the most missed items. Throughout the years, insurance has evolved in order to incorporate a variety of products, and not just cargo from one port to another. The different types of insurances include property, contents, life, illness, and more.
At Barclays, an insurance specialist assists customers with their various insurance needs. This means that they will find the right product to match their needs. Barclays Insurance covers an extensive range to ensure that customers find all they need within Barclays.
A Brief History of Barclays Bank
In 1690 when Barclays was founded, it was originally established for goldsmiths. They soon started accommodating other clients who required banking services and the bank pursued some expansion efforts. In the 1700s, the bank established its iconic location in London, and also managed to establish its logo.
It was only in the 1900s when the bank decided to expand to other continents. Africa and India received its own branches and it the 1960s, Barclays landed on the American shores. It managed to expand its product base and in the 2000s, was well on its way to becoming a market leader in banking technology.
The 2000s were off to a rocky started, thanks to the market crash of 2008. Barclays decided to purchase a stake in the folding Lehman Brothers, which proved to be a disastrous move. The bank’s profits started to plummet and before long, they had to close down some of the branches. The majority of these branches were located in the rural areas. This caused a very low rating as far as public opinion goes. Currently, the bank is working hard to restore its reputation in the market and also boost employee morale.
For a full review of Barclays Bank, read here.
Barclays Insurance Product Offerings
This cover protects the home against loss or damage. Furthermore, it provides customers with the means to repair or rebuild their home. Also, these costs are unlimited if their property has 5 bedrooms or fewer.
Have a look at some of the mortgage offers by Barclays here.
Customers have the option to insure their possessions in the home for an unlimited sum against loss, theft, or damage. Furthermore, this cover provides cover for sets and pairs, which means the set or pair will be replaced if one item is damaged. This type of cover also covers valuables like jewelry and watches. Finally, it also covers replacement locks and keys.
Starter Contents Cover
This type of cover is ideal for those who have just moved into their home or don’t have that much to cover.
Student Contents Cover
Students have the option to get cover for their contents to protect it against loss, theft, or damage in the home. Furthermore, it also provides cover for the cost of replacement locks and keys.
Read here for a full review on student and other loans offered by Barclays.
Personal Items Cover
This type of insurance is suitable for those who carry high-value items with them. This includes items such as watches, jewelry, books, and even cash. The cover is against loss, theft, or damage and extends whether the customer is at home or anywhere else in the world.
Customers who have any of the other contents covers can apply for the Gadget Cover. This protects their smartphone, laptop, tablet, and digital camera from loss, theft, or damage. Furthermore, this is whether the customer is at home or anywhere else in the world.
This cover is ideal for those who love to go biking. Customers can insure their bicycle with Barclays and they will cover any others in their home up to the same value, wherever they take them.
Sports Equipment Cover
Customers who take their sports seriously and rely on expensive gear can sign up for this type of insurance. The cover includes sports equipment and specialized clothing, and protects against loss, theft, or damage anywhere in the world. Furthermore, customers can choose their level of cover from £250 to £5,000.
Home Emergency Cover
Simple home emergencies may not cost a whole lot to fix, however, when there is no disposable cash around it can become a problem. This type of cover is ideal for situations such as a broken boiler or a collapsed roof. Furthermore, this cover includes unlimited, fee-free call-outs. Also, customers have access to up to £1,000 for alternative accommodation.
Legal Services Cover
Apart from providing advice on claims related at home, the legal services also help in other aspects. These include employment disputes, medical negligence claims, and consumer issues.
Finer Home Insurance
Customers have access to specialist protection for properties that have 6 bedrooms or more. Furthermore, these properties have valuables worth more than £40,000 which include fine art, antiques, and collectibles.
- This insurance is designed for properties with a rebuild cost of more than £500,000.
- It protects contents worth £80,000 and above and valuable items worth more than £40,000.
- Furthermore, customers have the option to extend their cover to a second home.
- The cover includes personal lawyer cover, optional cover, accidental damage cover, and home emergency service.
- Finally, certain restrictions and limitations exist.
This insurance category offers unlimited rebuild and repair costs for rental properties. Furthermore, it also includes loss of rent and alternative tenant accommodation as part of the package.
Landlords who wish to let their properties furnished will want to take up this option. It provides an unlimited sum insured for their possessions and it also covers malicious damage caused by tenants.
Starter Contents Cover
This is ideal for landlords who only have a few items in their rental property.
Student Contents Cover
Students have the opportunity to design their own cover to protect their stuff. This is against loss, theft, or damage in their student home. Students can also add the cover they need for items such as bikes, gadgets, and more.
- Cover ranges from £2,000 to £15,000.
- Furthermore, the cover applies while students are moving their possessions to and from their student home.
Barclays Life Insurance
This cover is suitable for those who wish to ensure a safety net for those they leave behind in the event of their death.
- It provides beneficiaries with a lump sum on death.
- The premiums stay the same throughout the policy term and start from £6.
- Furthermore, customers can apply for the product one.
- Finally, the cover is provided by Aviva.
Those who wish to save as part of their legacy should consider some of the Barclays savings accounts. Read more on that here.
Barclays Life Insurance for Mortgage Holders
This insurance is ideal for those who don’t want to burden their loved ones with mortgage debt.
- Customers have access to a lump sum on death or diagnosis of a terminal illness.
- Furthermore, they have access to free advice from a mortgage adviser to help choose the right level of cover.
- Monthly premiums start from as little as £6.
- Finally, the cover is provided by Legal & General.
Life with Critical Illness Cover for Mortgage Holders
This cover is suitable for those who wish to have cover in the event of a critical illness. Furthermore, this cover is specifically designed for mortgage holders.
- This insurance provides a lump sum when customers are diagnosed with 1 of 41 listed critical illnesses.
- Furthermore, customers will receive free advice from a mortgage adviser to help them choose the right level of cover.
- Also, the premiums start from as little as £6.
- The cover provides this lump sum on death or the diagnosis of a terminal illness as well.
- Finally, the cover is provided by legal & General.
Barclays Travel Insurance
This product is suitable for those who are planning a relaxing getaway. It covers the customer, their family, and their belongings. Furthermore, the cover is for travel within the UK or abroad.
- Customers choose from single or multi-trip cover with adjustable limits.
- Also, customers benefit from unlimited medical expenses.
This is a travel insurance package that provides family travel insurance and comprehensive RAC breakdown cover. Furthermore, all of this for only £10.50 per month.
- This cover is available to new and existing Barclays customers. Customers would need to open an account with Barclays first.
- Also, customers receive a multi-pack discount.
Travel Plus Pack
Customers who travel frequently will find this option suitable. Furthermore, the product extends to family members as well.
- Customers have access to airport lounge access. Also, there is airport parking and hotel discounts.
- The package includes family travel insurance and comprehensive RAC breakdown cover.
- Furthermore, this package is only £15.50 per month.
- This includes Worldwide Multi-Trip Family Travel Insurance.
- Finally, it also includes the UK and European RAC Comprehensive Breakdown cover.
Phone and Gadget Cover
This insurance is suitable for those who love their gadgets. It covers mobile phones, laptops, tablets, cameras, and more. Furthermore, the cover starts from as little as £9.50 a month with the Tech Pack.
Critical Reviews Rating Barclays Insurance – 10 of 10
It is not often that insurance products receive such a sterling review, however, Barclays have proven their insurance products suitable for every phase of life. These products provide customers with the peace of mind they need when disaster strikes. Furthermore, the products are accessible and affordable.