Home insurance recommendation?

[nickyboy]

Er - fire and flood are part of the building cover. And if you don't have any valuable contents there is no reason to insure them - despite having suffered a couple of burglaries I have saved £10-12,000 over the last 30 years by not insuring mine.

You are insuring your house against fire and flood damage but none of its contents

Well you pays your money (or not in your case) and takes your chance. House contents add up to tens of thousands usually and a fire could result in a catastrophic loss and having to replace out of my own pocket. I am happier not putting my family's finances at risk for the sake of a few hundred pounds per year

 

[martint235]

Having been stung a few times by insurance companies (eg claimed for a replacement carpet and was given £5 per sq metre in a shop specified by the insurer. It didn't actually cover the cost of the cheapest carpet in the shop!) I'm going it alone. It's not that I won't have insurance, I'll just be insuring the things that need insuring so for example the TV won't be, it's not insured if it breaks anyway so may as well save the insurance money in case it does. If I look at the room I spend the most time in, most of what's in there is irreplaceable and I'm left with a sofa, a telly, a PS3, sky box (got a spare in the garage) and a couple of lamps so hardly worth the extortionate money requested by insurers who will then find a way not to pay out anyway.

One current advert on TV shows someone being burgled and losing a ring of sentimental importance. The insurance company makes a big thing about how they'll make a replacement. I emailed them to say that as the front door (method of access by burglar) only had a Yale lock on it, would they please confirm that they would actually pay out at all under those circumstances? No reply.

 

[ASC1951]

Even the most basic of 'contents' would cost a surprising amount to replace if you lost it all in a fire, for example. Try costing the stuff in the room you spend the most time in.

Bear in mind that I have never bought any new furniture or furnishings in my life. I could replace it all for a few hundred pounds, because that is what I paid for it.
My point is that you shouldn't insure a risk just because the people who sell it tell you that it is essential. Insurers make a profit by charging more in premiums over the life of an asset than the cost of replacing that asset; and you should consider the risk/reward ratio in each case. So I insure my driving because the law says I have to and I insure my house because the loss would be catastrophic. But I don't insure my car or bicycles or other belongings because the loss would be small and I can cover it.

 

[PK99]

Y
The one thing you need to do is ensure the sums insured are adequate to replace and rebuild everything if you lost the lot.
.

The second thing to remember is not to underinsure because you think you will never lose the lot > Insure £100k of possessions for £50k lose the lot, and the payout will be £25k, in fact lose anything. and if a loss adjuster is sent round the payout will be reduced

 

[ASC1951]

Lucky you!....

I do have a fairly asset-free life. The last burglar ten years ago was unable to find anything he considered worth taking.

The only thing that would seriously inconvenience me would be the loss of all my data, which isn't insurable in that money wouldn't get it back. So that is backed up in't Cloud.

 

[asterix]

We are in the same boat. Last time we were burgled they left us a food parcel and blankets.

 

[wheeliebin]

As someone suggested I went on the DL website and got a quote for £195, as opposed to the £800+ renewal!!!!
I may renew with them if they will match that as I think the level of cover is OK and it will save hassle, but I'm sorely tempted to kick them into touch for taking the p*ss.

 

[goo_mason]

I went with Naturesave last year - my block of flats has a flat roof, which has suddenly become a nightmare when trying to get Contents & Buildings Insurance. They were the cheapest & I was delighted this year when my renewal premiums went up by a few pence, rather than doubling as they've done with all of my previous insurers.

 

[MrGrumpy]

You will be surprised to hear that RBS and Direct Line are the same company.
Do you need contents cover? Think about whether you would be able to replace everything if your house burnt down or flooded.
Do you want accidental damage cover as well as standard perils?
The one thing you need to do is ensure the sums insured are adequate to replace and rebuild everything if you lost the lot.
Most well known providers will have very similar policy wordings and exclusions. Check security requirements.

Yes I knew but I thought RBS sold direct line? Anyway main point is the insurance game is a minefield designed to make it as complicated as possible for the customer.

 

[fossyant]

CoOp insurance Services.....you always know where your money is going with the CoOp

These. ^^^

I get two of my bikes (over limit of £1000) on an extended policy and also the usual contents. Pay £240 a year Buildings is within Mortgage and thats about another £120.

 

[martint235]

CoOp insurance Services.....you always know where your money is going with the CoOp

On a party? To a drugs den?

 

[Slim]

Yes I knew but I thought RBS sold direct line? .....

Yes they did. I worked for them for 10+ years. They are now Directline Insurance Group. Also, in case you weren't aware, they also own Churchill and Privilege as well as running insurance for a variety of supermarkets.

Oh! and the staff generally get a raw deal on pretty much everything including discounted insurance. Me? bitter and twisted? absolutely!!!

 

[vickster]

I am with the AA, Zurich I believe, through confused.com. Was £50 cheaper than my previous provider who decided that I had to have a burglar alarm fitted - luckily I actually read the paperwork before renewing as they didn't bother to tell me, nor the reasoning.

I've not had to claim so can't speak to how they handle, but Zurich are pretty established

My buildings and contents was under £300, 75k of cover, accidental damage, cover away from home, bikes don't need to be named items up to £1500 I think. I should get some quidco cashback at some point too

Make sure you are not under insured as you won't be covered in event of a full claim (following fire or similar)! You can't just claim up to the policy limit, everything has to be covered!

 

[mr_cellophane]

LV include 3rd party insurance when I am cycling (the bikes are an extra). Not every company includes this. Well worth it to shut up people who say cyclists aren't insured.