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Building and contents insurance
iainment
Posts: 8,039
I’m looking to get a new insurer. The prices I’ve seen online vary from £130 to £650!
Is it worth paying the difference? How can you tell which company is good for the policy holder?
Is it worth paying the difference? How can you tell which company is good for the policy holder?
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The price differential is unlikely to reflect quality of service. I just look at the three lowest quotes and check Trustpilot or other online reviews.2
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Agreed. And if you stay too long without checking, they will rip the piss out of you with premium hikes. Even the Nationwide did that to me several years ago, and I haven't used them since for insurance.
Insurers only differ in terms of premiums charged and how they handle claims, so look online for reviews when claims have been made.
Most of the risk in the premium is contents, so don't get more cover than you sensibly need for that.0 -
Or think about this re the contents insurance: the odds of losing what you've got x the value will be less than the premium you're asked to pay (otherwise the insurance company would go out of business). Yes, it's true of the building, too, but some things are perhaps too valuable to take a risk with.
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With buildings cover it is worth bearing in mind that the property owner will have to pay for a derelict house to be demolished and the rubble cleared - prior to a rebuild. That’s not cheap.The banks want this insurance business and you may find your bank will offer a good deal.0
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there is no one size fits all policy .. what you choose to cover will reflect the price as will the area where you live .. high crime area, high price .. low crime low price ..
I have a no frills policy which covers house, possessions, alternative accommodation, garden furniture, garage contents, etc. etc., including rather bizarrely, any liability to domestic staff' .. so should my butler get injured whilst polishing the silver or serving afternoon tea and decide to sue me, I am covered up to £10,000,000 .. all this for £101 p.a. from AxA0 -
Lincsaddick said:there is no one size fits all policy .. what you choose to cover will reflect the price as will the area where you live .. high crime area, high price .. low crime low price ..
I have a no frills policy which covers house, possessions, alternative accommodation, garden furniture, garage contents, etc. etc., including rather bizarrely, any liability to domestic staff' .. so should my butler get injured whilst polishing the silver or serving afternoon tea and decide to sue me, I am covered up to £10,000,000 .. all this for £101 p.a. from AxA
What's the rebuild value of the house in that £101 policy?
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I think @Lincsaddick meant that the "add on" part of the policy is £101pa. You cant get a sensible buildings & contents policy for that premium.AddicksAddict said:Lincsaddick said:there is no one size fits all policy .. what you choose to cover will reflect the price as will the area where you live .. high crime area, high price .. low crime low price ..
I have a no frills policy which covers house, possessions, alternative accommodation, garden furniture, garage contents, etc. etc., including rather bizarrely, any liability to domestic staff' .. so should my butler get injured whilst polishing the silver or serving afternoon tea and decide to sue me, I am covered up to £10,000,000 .. all this for £101 p.a. from AxA
What's the rebuild value of the house in that £101 policy?
I used to work for the Prudential & sold quite a bit of B&C cover.0 -
What ever you do go with the same company and do not split buildings with one company and contents with another.
A friend of mine did and he had a flood from his loft, took nearly a year for the two companies batting it out who was responsible for paying out.0 -
I pay about 330 for everything in the 3 bed semi i stay in for work, Mrs pays about 500 for our house in reading - 4 bed detached.
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Like any insurance check what you are buying. What the excess is, does it include accidental damage cover, new for old (almost all are now), away from home cover, single article limit, overall limit, legal protection etc etc.
IMHO you can't buy home insurance like you do Motor.0 -
And make sure you count all the bedrooms. None of this "it's a box room /study so we wont count it" malarkey. That will cost you if you ever make a claim as the insurer will pro-rata the pay out. ie, if you are insured for £30k contents cover on a 3 bed, but you have said it's a 2 bed then the max claim would be £20k.0
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Under insurance is a massive problem that you only realise when you need to make a claim. Always better to over estimate than under estimate.golfaddick said:And make sure you count all the bedrooms. None of this "it's a box room /study so we wont count it" malarkey. That will cost you if you ever make a claim as the insurer will pro-rata the pay out. ie, if you are insured for £30k contents cover on a 3 bed, but you have said it's a 2 bed then the max claim would be £20k.0 -
I have a brilliant one from Halifax Bank that I took out a week ago- worth giving them a call. Tried loads this year and they came out not only cheapest but fantastic Buildings/Contents/accidental damage/legal cover.0
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charlton4ever said:I have a brilliant one from Halifax Bank that I took out a week ago- worth giving them a call. Tried loads this year and they came out not only cheapest but fantastic Buildings/Contents/accidental damage/legal cover.
Interesting. Banks are not normally particularly competitive because of the commisions that they take.
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Just for the sake of clarity, there is no such thing as "Halifax Bank". It has no separate authorisation from the FCA. It is merely a trading name of Bank of Scotland, which although itself part of Lloyds, does have separate authorisation. Bank of Scotland are marketing products avoiding the use of a Scottish name in case it puts off English customers. In any event, these policies are underwritten by Lloyds Bank General Insurance Limited. So they are keeping it all in-house.Bangkokaddick said:charlton4ever said:I have a brilliant one from Halifax Bank that I took out a week ago- worth giving them a call. Tried loads this year and they came out not only cheapest but fantastic Buildings/Contents/accidental damage/legal cover.
Interesting. Banks are not normally particularly competitive because of the commisions that they take.0 -
cafcfan said:
Just for the sake of clarity, there is no such thing as "Halifax Bank". It has no separate authorisation from the FCA. It is merely a trading name of Bank of Scotland, which although itself part of Lloyds, does have separate authorisation. Bank of Scotland are marketing products avoiding the use of a Scottish name in case it puts off English customers. In any event, these policies are underwritten by Lloyds Bank General Insurance Limited. So they are keeping it all in-house.Bangkokaddick said:charlton4ever said:I have a brilliant one from Halifax Bank that I took out a week ago- worth giving them a call. Tried loads this year and they came out not only cheapest but fantastic Buildings/Contents/accidental damage/legal cover.
Interesting. Banks are not normally particularly competitive because of the commisions that they take.We were with Lloyds Insurance for years for buildings and contents - used to cost about £1200 a year. Switched to Direct Line (all our cars are with them as well) and now pay half that amount for what seems to be better cover!Shop around but read the small print too. If it's too cheap, there's a reason.0 -
Direct Line are very good, I'm with them (Churchill) for some of my cars and when two went missing their claims service was superb. Car stolen on the Friday money in my bank account the following Friday. And despite costing them over £50k my renewal premium went down!bobmunro said:cafcfan said:
Just for the sake of clarity, there is no such thing as "Halifax Bank". It has no separate authorisation from the FCA. It is merely a trading name of Bank of Scotland, which although itself part of Lloyds, does have separate authorisation. Bank of Scotland are marketing products avoiding the use of a Scottish name in case it puts off English customers. In any event, these policies are underwritten by Lloyds Bank General Insurance Limited. So they are keeping it all in-house.Bangkokaddick said:charlton4ever said:I have a brilliant one from Halifax Bank that I took out a week ago- worth giving them a call. Tried loads this year and they came out not only cheapest but fantastic Buildings/Contents/accidental damage/legal cover.
Interesting. Banks are not normally particularly competitive because of the commisions that they take.We were with Lloyds Insurance for years for buildings and contents - used to cost about £1200 a year. Switched to Direct Line (all our cars are with them as well) and now pay half that amount for what seems to be better cover!Shop around but read the small print too. If it's too cheap, there's a reason.
Check the limits @bobmunro they aren't known for super HNW customers
I had a quote from them but they couldn't cover the limits for Jewellery etc and bank safety deposit. 0 -
I've got separate cover for high value items and a safety deposit box with separate insurance with that also.Rob7Lee said:
Direct Line are very good, I'm with them (Churchill) for some of my cars and when two went missing their claims service was superb. Car stolen on the Friday money in my bank account the following Friday. And despite costing them over £50k my renewal premium went down!bobmunro said:cafcfan said:
Just for the sake of clarity, there is no such thing as "Halifax Bank". It has no separate authorisation from the FCA. It is merely a trading name of Bank of Scotland, which although itself part of Lloyds, does have separate authorisation. Bank of Scotland are marketing products avoiding the use of a Scottish name in case it puts off English customers. In any event, these policies are underwritten by Lloyds Bank General Insurance Limited. So they are keeping it all in-house.Bangkokaddick said:charlton4ever said:I have a brilliant one from Halifax Bank that I took out a week ago- worth giving them a call. Tried loads this year and they came out not only cheapest but fantastic Buildings/Contents/accidental damage/legal cover.
Interesting. Banks are not normally particularly competitive because of the commisions that they take.We were with Lloyds Insurance for years for buildings and contents - used to cost about £1200 a year. Switched to Direct Line (all our cars are with them as well) and now pay half that amount for what seems to be better cover!Shop around but read the small print too. If it's too cheap, there's a reason.
Check the limits @bobmunro they aren't known for super HNW customers I had a quote from them but they couldn't cover the limits for Jewellery etc and bank safety deposit.1 -
Thanks lads. Helpful info as ever from CL’s denizens.0
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Mine is due next month, Mrs GA now WFH on a permanent basis, will this have an effect on the premium?0
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You only discover how good insurance is when you have to make a claim.1
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No, it shouldn't do.guinnessaddick said:Mine is due next month, Mrs GA now WFH on a permanent basis, will this have an effect on the premium?0 -
Who do you use. No online facility will give me a quote so I use a broker and the only cover I can get is B&C through Aviva Private Client with a £500 excess. Premium is outrageous.bobmunro said:
I've got separate cover for high value items and a safety deposit box with separate insurance with that also.Rob7Lee said:
Direct Line are very good, I'm with them (Churchill) for some of my cars and when two went missing their claims service was superb. Car stolen on the Friday money in my bank account the following Friday. And despite costing them over £50k my renewal premium went down!bobmunro said:cafcfan said:
Just for the sake of clarity, there is no such thing as "Halifax Bank". It has no separate authorisation from the FCA. It is merely a trading name of Bank of Scotland, which although itself part of Lloyds, does have separate authorisation. Bank of Scotland are marketing products avoiding the use of a Scottish name in case it puts off English customers. In any event, these policies are underwritten by Lloyds Bank General Insurance Limited. So they are keeping it all in-house.Bangkokaddick said:charlton4ever said:I have a brilliant one from Halifax Bank that I took out a week ago- worth giving them a call. Tried loads this year and they came out not only cheapest but fantastic Buildings/Contents/accidental damage/legal cover.
Interesting. Banks are not normally particularly competitive because of the commisions that they take.We were with Lloyds Insurance for years for buildings and contents - used to cost about £1200 a year. Switched to Direct Line (all our cars are with them as well) and now pay half that amount for what seems to be better cover!Shop around but read the small print too. If it's too cheap, there's a reason.
Check the limits @bobmunro they aren't known for super HNW customers I had a quote from them but they couldn't cover the limits for Jewellery etc and bank safety deposit.
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Dippenhall said:
Who do you use. No online facility will give me a quote so I use a broker and the only cover I can get is B&C through Aviva Private Client with a £500 excess. Premium is outrageous.bobmunro said:
I've got separate cover for high value items and a safety deposit box with separate insurance with that also.Rob7Lee said:
Direct Line are very good, I'm with them (Churchill) for some of my cars and when two went missing their claims service was superb. Car stolen on the Friday money in my bank account the following Friday. And despite costing them over £50k my renewal premium went down!bobmunro said:cafcfan said:
Just for the sake of clarity, there is no such thing as "Halifax Bank". It has no separate authorisation from the FCA. It is merely a trading name of Bank of Scotland, which although itself part of Lloyds, does have separate authorisation. Bank of Scotland are marketing products avoiding the use of a Scottish name in case it puts off English customers. In any event, these policies are underwritten by Lloyds Bank General Insurance Limited. So they are keeping it all in-house.Bangkokaddick said:charlton4ever said:I have a brilliant one from Halifax Bank that I took out a week ago- worth giving them a call. Tried loads this year and they came out not only cheapest but fantastic Buildings/Contents/accidental damage/legal cover.
Interesting. Banks are not normally particularly competitive because of the commisions that they take.We were with Lloyds Insurance for years for buildings and contents - used to cost about £1200 a year. Switched to Direct Line (all our cars are with them as well) and now pay half that amount for what seems to be better cover!Shop around but read the small print too. If it's too cheap, there's a reason.
Check the limits @bobmunro they aren't known for super HNW customers I had a quote from them but they couldn't cover the limits for Jewellery etc and bank safety deposit.Ellerton Knight (broker) for safety deposit box - and Chubb for watches/jewellery and art.That said, my standard provider Direct Line home insurance (max £5k per item) are now doing SELECT Home Insurance - unlimited buildings and contents including high value items and you only need to list items that have an individual value of more than £10k.0 -
FWIW I use a company I used to work for (was Sterling, bought by Covea) includes B&C as well as all valuables/watches etc and safety deposit box. Premium isn't cheap mind but I know some of the people still which always helps if the worst happens!Dippenhall said:
Who do you use. No online facility will give me a quote so I use a broker and the only cover I can get is B&C through Aviva Private Client with a £500 excess. Premium is outrageous.bobmunro said:
I've got separate cover for high value items and a safety deposit box with separate insurance with that also.Rob7Lee said:
Direct Line are very good, I'm with them (Churchill) for some of my cars and when two went missing their claims service was superb. Car stolen on the Friday money in my bank account the following Friday. And despite costing them over £50k my renewal premium went down!bobmunro said:cafcfan said:
Just for the sake of clarity, there is no such thing as "Halifax Bank". It has no separate authorisation from the FCA. It is merely a trading name of Bank of Scotland, which although itself part of Lloyds, does have separate authorisation. Bank of Scotland are marketing products avoiding the use of a Scottish name in case it puts off English customers. In any event, these policies are underwritten by Lloyds Bank General Insurance Limited. So they are keeping it all in-house.Bangkokaddick said:charlton4ever said:I have a brilliant one from Halifax Bank that I took out a week ago- worth giving them a call. Tried loads this year and they came out not only cheapest but fantastic Buildings/Contents/accidental damage/legal cover.
Interesting. Banks are not normally particularly competitive because of the commisions that they take.We were with Lloyds Insurance for years for buildings and contents - used to cost about £1200 a year. Switched to Direct Line (all our cars are with them as well) and now pay half that amount for what seems to be better cover!Shop around but read the small print too. If it's too cheap, there's a reason.
Check the limits @bobmunro they aren't known for super HNW customers I had a quote from them but they couldn't cover the limits for Jewellery etc and bank safety deposit.0 -
Well, you have to declare it and answer the relative questions, which can sometimes make the online process not as straightforward and at the end it may say phone them anyway (wife was a child minder).guinnessaddick said:Mine is due next month, Mrs GA now WFH on a permanent basis, will this have an effect on the premium?0
