Home Insurance and too much coffee

Following my last Home Insurance blog, I've been literally underwhelmed by requests for more information regarding the history of buildings and contents insurance cover. And so, since as you may know, I'm writing this blog on behalf of Performance Direct, one of the UK's leading providers of cheap home insurance cover, on the phone and online, it will be my pleasure over my next few posts, to tell more of the history of insurance policies, underwriters and other colourful insurance factoids.

It seems, the insurance policies we all know and rely on today are all down to... coffee. To be precise, the distinctive brand of coffee served by a Mr. Edward Lloyd of Tower Street in the City of London in the 1680s.

Coffee was big news in the 1680s and it fuelled the fast beating heart and raised blood pressure of the City of London ­ already rapidly becoming the world's financial capital.

Back then, most of Mr. Lloyd's customers were involved in shipping and he complemented his coffee with shipping news enabling his clientele of ships' captains, merchants and rich men to carry on their business of insuring ships and their cargos.

The wealthier clients frequenting the coffee house would each take a share of a risk, signing their names one beneath the other on the policy, together with the amount they agreed to cover. As each signature was written beneath the other, they became known as 'underwriters'.

Mr. Lloyd died in 1713 but the name Lloyd's stuck becoming the collective name for insurance underwriters and, of course, the name of the most famous name in insurance, Lloyds.

By the way, did you know that square faced (but none the less attractive) weather woman, Sian Lloyd was once engaged to marry political joker, Lembit Opic? According to Wikipedia, he left her for a Cheeky Girl. Sounds very unlikely.

Anyway, this has nothing to do with the best value for money buildings and contents cover, UK home insurance or, even, accidental damage, although I guess even Cheeky Girls need home insurance. I wonder if being 'cheeky', increases your risk of making an insurance claim?

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Why choose Performance Direct?

  1. The latest digital systems. Our customers enjoy all the advantages of the digital world. We offer excellent web and app-based insurance services, including a fast, easy-to-use quote engine, and automated customer services allowing hassle-free access to documents and information.

  2. The peace of mind of a Chartered Broker. Everything we do is backed by a team of skilled, experienced insurance professionals. We’re a Chartered Insurance Broker, a family company with a proud 40-year history, so we’re bound by a personal and professional code to deliver the best service for our clients.

  1. We’re independent. Because we’re not tied to any brand or product, we can search the insurance market to get you the best policies. Whenever you ask for a new or a renewal quote, our systems search a panel of up to 100 leading UK underwriters to ensure you get the lowest price and the best policy.

  2. We’re on your side. If you need to make a claim, because we’re completely independent, we work with you to sort everything out and to make sure your claim is paid. Our claims service is available 24 hours a day, 365 days a year. 

  3. Here for you. Your Online Insurance Account, support features, and on-line quotations are available 24/7, and our office is open 6 days a week.

Combining the advantages of the latest technology with real world experience, Performance Direct promises the lowest prices with the most efficient service.