Teachers and lecturers are being offered bigger discounts on buildings and home contents insurance policies by Endsleigh, the Cheltenham-based insurance company.
A 17.5 per cent discount on the "Homestyle" policy rates is now being dangled before members of three unions - the National Association of Schoolmasters Union of Women Teachers, the Association of University Teachers and the National Association of Teachers in Further and Higher Education. Other teachers qualify for a 12.5 per cent discount. Both rates have been reduced by 2.5 per cent.
Endsleigh points out that in December 1993, a 28-year-old teacher living in a three-bedroom semi-detached house in Sheffield would have paid a premium of Pounds 353 for a Homestyle policy for buildings (including accidental damage), contents and Pounds 2,000 "all risks" insurance cover. On renewal last month, having had a claim-free year and incorporating the teachers' discount, the premium for the same cover would have been Pounds 234 (before insurance premium tax is added) - a reduction of Pounds 119 or 34 per cent.