Contact information
Address: Investment Department, Chelsea Building Society, Thirlestaine Hall, Thirlestaine Road, Cheltenham, Gloucs.. GL53 7AL
Company profile
Building society, built on strong values and a long standing culture of giving customers fair treatment. Their mission is to help people own a home and achieve financial security.
The origins of Chelsea Building Society go back to 1875, when the Camberwell and South London Building Society was formed. Three years later, in 1878, the Borough of Chelsea Permanent Building Society was formed. Over the years both societies merged with smaller societies and on 31 December 1966 the two societies merged to create a new society with assets of £30 million. The new society was called the Chelsea and South London Building Society until April 1971 when the name was changed to Chelsea Building Society.
How are premiums calculated? - In setting premiums for buildings and contents cover, most insurers will start with the postcode of the property to be insured. Postcodes enable insurers to identify a geographical area, thereby allowing premiums to better reflect their claims experience in that locality. However, postcodes have two major disadvantages – first, the insurance industry has no control or influence over the Royal Mail’s allocation of postcodes and second, an individual postcode may contain within its boundary, areas of higher or lower risk than the average. This information is generally not known to individual companies or the industry as a whole.
The postcode is the base upon which insurers calculate premiums. A number of other factors are taken into account when calculating the full premium such as a policyholder’s previous claims history, the sum(s) insured and the nature of the items to be insured.
Not all insurers place particular postcodes in the same rating bands and competition between insurers means premiums can vary considerably for similar risks in the same locality. It is worthwhile shopping around.
Liability - Householders - like everyone else - have a duty to exercise reasonable care in everything they do. If you are careless or negligent, and this results in injury or damage to someone else or their property, then you could be held legally liable for this and have to pay compensation. Contents and buildings policies cover you against this risk. The buildings policy covers you as owner of your home while the contents policy covers you as its occupier.
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Chelsea Building Society is not endorsed by or associated with 360clicks. All trademarks remain the property of their respective companies.
