British soldiers serving abroad are facing significant increases in their insurance costs due to extended periods away from home, a report by the Mirror has revealed. Major insurance companies now require individuals spending more than 30-60 consecutive days away annually to obtain specialized unoccupied home insurance, leading to potentially hundreds of pounds in additional premiums. This policy has particularly impacted members of the armed forces deployed overseas, including those assisting Ukrainian forces in countering the Russian invasion.
Labour MP Alistair Strathern has engaged with leading insurers to address this issue after hearing from military personnel who felt let down by their insurers. Several major insurance providers, such as Aviva, Hastings Direct, and Admiral, have adjusted their policies to accommodate armed forces members. However, Strathern is urging the entire insurance industry to do more to support those who serve the country.
Strathern emphasized the challenges faced by soldiers stationed overseas, citing instances where individuals had to cope with sudden insurance cost spikes or even policy cancellations while deployed. He highlighted the financial strain this places on service members, especially when they require immediate new coverage due to policy voiding.
The MP raised concerns that some insurers’ reluctance to make concessions for military personnel could violate the Armed Forces Covenant, which pledges fair treatment and respect to those who serve. While many insurers have pledged support for the Covenant, Strathern stressed the importance of translating these commitments into tangible actions that benefit service personnel.
Notably, the Royal British Legion highlighted inconsistencies across insurers in accommodating military personnel, extending to other financial services like car insurance and mobile phone contracts. To enhance support for the Armed Forces community, a stronger adherence to the principles of the Covenant is deemed essential.
The Mirror’s investigation revealed that several leading home insurers have waived additional charges for armed forces members serving abroad. Some insurers, like Policy Expert, AXA, and NFU Mutual, maintain standard terms for unoccupied properties but evaluate cases individually. LV offers unoccupied cover at no extra cost within existing policies, while specialized brokers can provide tailored solutions for unique needs.
Industry representatives emphasized the need for flexibility and understanding when insuring unoccupied properties for extended periods, acknowledging the heightened risks involved. They advised personnel expecting prolonged absences to engage with insurers to explore suitable coverage options or seek assistance from brokers if necessary.
Proposed amendments to the Armed Forces Bill aim to reinforce the obligations under the Armed Forces Covenant, compelling government departments to consider the needs of the Armed Forces community when providing goods and services.