cheap building and contents discussions (Merged Discussion)

Coolhandluke

Currently up for renewal,being quoted £153.00 for a detatched bungalow in Ards,includes cover for contents of £21,000 with accidental damage etc.
How does that compare with what anyone else is paying?

BigAl94

Without knowing the value or rebuild cost of the property, it is impossible to comment

NAR

Also just a bit of advice, £21,000 sounds a bit light for contents cover. Go round each room and approximate how much it would cost to replace every item new (pretend house had been gutted by fire). I think you'll find you are into a ball-park of nearer £30,000, or more.

Coolhandluke

The insurance quote currently has the house valued at £117k but i will have to have this increased to £150k at least to cover current market value.
I think im happy with £21k for contents.

BigAl94

Buildings £400K Contents £50K "All Risks" £7K - Premium £261. As I'm over 50 I use SAGA. I think it's a good deal. Shop around Coolhandluke.

Chrissy_Boy_2

Forget about the market value of your house, your insurance is based on rebuilding costs rather than current value. When you bought the house, they surveyor should have indicated on the survey what the rebuilding costs are, go with that figure.

£21k is very low for contents, make sure you take everything into account, carpets, wooden floors, electrical equipment, cd's etc and work out what it would cost to buy them all again if you had to.

IvanOpinion

Agree with previous comments about value of contents - someone once said that for a ball park figure take the number of lving areas and multiply by £5000. Also to calculate the cost of buildings insurance you can use the calculator on the ABI site (towards the bottom of the page at http://www.abi.org.uk/Public/Consumer/HouseholdPersonal/newbuildingcalculator.asp).

I reckon that the ABI site is probably one of the worst designed sites I have ever come across (and I have come across a lot).

Ivan

Coolhandluke

Thanks for all the replys,i will sit down and do my sums again.

Coolhandluke

Have got 3 different quotes all with contents at around £31k and they are all within the £160.00 price range,so there doesn't seem to be much difference between them

ooo000ooo

Get the keys to my new house next week, never owned anything more expensive than a cheap car before What insurance do i need and who's the best people to do it through?

TIA